Executive Summary

The Neema Group of Marcus & Millichap is pleased to present 225 North Catalina Street, in Los Angeles, CA 90004. Built in 1950, this 8-unit property totals 5,134 SF on a 7,409 SF lot zoned R3 in a Tier 3 TOC in the middle of Koreatown. The building features singles and one-bedroom units and includes six parking spaces at the rear of the property.

This offering presents an investor the opportunity to purchase a value-add investment with true rental upside located in a Qualified Opportunity Zone. At the asking price, the price per unit is $218,750 with a pro forma 6.35% CAP rate. In addition, the ability to install laundry on-site can further increase cash flow. With separately metered utilities including individual water heaters and individual trash bins, the building is well run providing ease of management.

The Koreatown submarket remains one of the most desirable addresses for both living and working for residents who need to commute to both Downtown Los Angeles and Hollywood. With over 110,000 people living within one mile and an average home value of over $830,000 within a three-mile radius, the demand for apartment units continue to increase. The subject property has a walk score of 86 and is within walking distance to the Vermont/Beverly Station.