Price Recently Reduced! First time on the market in over 30 years, this well-maintained Koreatown multifamily asset—long owned and operated by the same family trust—now offers even greater value following a recent price reduction. The property currently has one vacant unit (previously two as of early 2024), and ownership is actively negotiating a new lease at approximately $1,980, providing immediate upside and additional income potential for the next investor. Ideally located just south of Beverly Blvd and east of Western Ave, the property is positioned in one of Koreatown’s most desirable multifamily corridors, with a nearby Metro station and premier amenities only minutes away. Situated on an expansive 14,201 SF lot, the building includes rare on-site surface parking—highly sought-after in Koreatown. Zoned LAR3, the site also offers future redevelopment potential, creating multiple exit strategies and enhancing long-term value. With a submarket vacancy rate of just 3% and strong historical rent growth, this asset is located in a high-demand rental area. Current rents remain significantly below market, presenting 20–30% upside through interior renovations and unit repositioning. This is an ideal value-add opportunity for investors seeking stable cash flow, near-term income growth, and long-term appreciation. Perfect for 1031 exchange buyers, private investors, or owner-users seeking secure, inflation-hedged returns in a central Los Angeles location. With a submarket vacancy rate of just 3% and strong historical rent growth, this property is located in a high-demand rental area. Current rents are significantly below market, offering 20–30% upside through renovation and unit repositioning. An ideal value-add opportunity for investors seeking stable cash flow and long-term appreciation. Perfect for 1031 exchange buyers, private investors, or owner-users looking for secure, inflation-hedged returns in a central LA location.