130 N Alexandria AVE, Los Angeles, CA 90004
130 N Alexandria AVE, Los Angeles, CA 90004
130 N Alexandria AVE, Los Angeles, CA 90004
130 N Alexandria AVE, Los Angeles, CA 90004
130 N Alexandria AVE, Los Angeles, CA 90004
130 N Alexandria AVE, Los Angeles, CA 90004
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Andrew Valbuena

Andrew Valbuena

+1(714) 348-7487
$ 10,500,000
Est. payment | /mo

54 Beds

54 Baths

36,012 SqFt

Save
$ 10,500,000
Est. payment | /mo
Save

54 Beds

54 Baths

36,012 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 36,012 sqft

Price per Sqft $291

MLS Listing ID 26773631

Bedrooms 54

HOA Y/N No

Year Built 1971

Lot Size 0.551 Acres

Property Description

We are pleased to present The Orleans Apartments, a 54-unit investment opportunity in prime Koreatown just east of Normandie Ave and south of Beverly Blvd. The subject property features an ideal unit mix of 54 one-bedrooms with 57 subterranean parking spaces; four units will be delivered vacant at the close of escrow. This is a value-add opportunity with 21% rental upside achievable as units turn; units are well-maintained but can be enhanced to capture premium rents with a renovation program including luxury vinyl plank flooring, stainless steel appliances, custom cabinetry and countertops, smoothed ceilings and light fixtures, and HVAC; exterior upgrades could include paint and common area upgrades; third floor units have balconies and all appliances are electric. At the asking price, the property is being offered at $292 PSF and$194,444 per unit. There are two laundry rooms on the third and fourth floors, each with three washers and three dryers leased with Wash. Rare opportunity to acquire a sizeable asset with substantial upside located in one of the strongest rental submarkets in all of Los Angeles with continued rent growth year-over-year. High Walk Score of 87, close proximity to schools, employment, and transit options, this central location makes it convenient for residents to commute throughout the city to nearby neighborhoods such as Downtown LA, East Hollywood, Hollywood, Westlake, and Mid-City, among others. Koreatown is one of the densest neighborhoods in Los Angeles, with about 120,000 people. With an estimated $1 billion invested in the development of Koreatown since the early 2000s and various development projects taking place, Koreatown remains one of the highly coveted submarkets in all of Los Angeles.

Location

State CA

County Los Angeles

Area C17 - Mid-Wilshire

Zoning LAR3

Interior

Heating None

Cooling None

Fireplace No

Exterior

Parking Features Underground

Total Parking Spaces 57

Building

Story 3

Entry Level Three Or More

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID 5518012036

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Neema Ahadian Marcus & Millichap #01346750
Andrew Valbuena

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(714) 348-7487

andrew.valbuena82@gmail.com

3020 Old Ranch Parkway Suite 250, Seal Beach, CA, 90740, US

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130 N Alexandria AVE