Located in one of Koreatown's most desirable pockets, 538 S Oxford Avenue presents a rare chance to acquire a high performing asset with substantial upside in one of Los Angeles's most dynamic rental markets. This 24-unit building sits just moments from the area's top dining, retail, and transportation amenities, making it a highly coveted address that consistently attracts strong tenant demand. Constructed in 1966, the property features an efficient and highly leasable unit mix of (3) Singles and (21) One-bedroom apartment homes, totaling approximately 17, 280 SF of improvements. The building is fully parked, an increasingly hard-to-find advantage in Koreatown that provides added convenience for residents while enhancing long-term value for ownership. Priced at $4, 950, 000, the offering equates to an attractive $206, 000 per unit and a price per square foot well below replacement cost, creating a compelling basis in a core LA location. The asset also delivers an impressive 5.08% cap rate on actual income, with a clear path to nearly 10% cap rate at market rents. This combination of low entry basis and extraordinary rent upside is seldom seen in today's market. Well-located, well-parked, and primed for repositioning, 538 S Oxford checks every box for value-add investors. With Koreatown's continued growth and very limited availability of similar assets, this is the kind of deal that does not come around often.
