2222 W 15th St - Apartments FOR SALE


Los Angeles, CA 90006- Harvard Heights
$3,500,000 USD
213-943-1897
2222 W 15th St, Los Angeles, CA for Sale
$3,500,000 USD
Apartments - FOR SALE
1/9
null | 6.14% Cap Rate

2222 W 15th St
Los Angeles, CA 90006
Harvard Heights


HIGHLIGHTS

  • A rare opportunity for investors to expand in Koreatown, where the average deal size in ZIP code 90006 over the past five years has been 13 units
  • The 2028 LA Summer Games are expected to drive real estate growth through upgrades to infrastructure, neighborhoods, and major venues
  • Bordered by Koreatown, Arlington Heights, and Country Club Park, this location offers strong value for tenants priced out of nearby submarkets
  • Property has been owned & operated for the last 11 years, offering operational stability and a clear track record
  • There is 38 percent remaining upside through interior renovations, providing a clear path to increased revenue for investors with a value-add strategy

OVERVIEW

The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 29-unit apartment community located at 2222 West 15th Street. Positioned just south of Pico Boulevard and west of Hoover Street, the property sits on the southern edge of Koreatown — a vibrant, culturally rich neighborhood known for its historic charm, diversity, and central Los Angeles location. Residents benefit from convenient access to Downtown LA, Hollywood, and the Westside via major freeways and Metro lines. The surrounding area is highly walkable and offers a mix of shopping, global restaurants, local cafes, Korean spas, and nightlife. Situated on a 7,504-square-foot lot, the building comprises 17 studio units and 12 one-bedroom units. With approximately 38% rental upside, there is significant potential to increase revenue through interior unit renovations. Additionally, the property is separately metered for gas and electricity. 2222 West 15th Street represents a compelling value-add opportunity in a high-demand, infill Los Angeles submarket. Continued neighborhood revitalization combined with the potential for increased rental income makes this an outstanding investment for multifamily investors. PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$193 USD /SF

# OF UNITS

29

PRICE/UNIT

$120,690

CAP RATE

6.14%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

29-Units Value-Add Near Koreatown

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1935

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,504 SF

ZONING

LAR3

APN/PARCEL ID

5056-006-008

ASK ABOUT THIS PROPERTY

Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.