1985-BUILT KOREATOWN - NOT SUBJECT TO LA RSO 424 S. Commonwealth Avenue is a 25-unit multifamily investment opportunity ideally located in the heart of Koreatown, one of Los Angeles’ most dynamic and centrally located rental markets. Built in 1985, the property offers investors the significant advantage of being exempt from the Los Angeles Rent Stabilization Ordinance (RSO) as well as seismic retrofitting requirements. ATTRACTIVE IN-PLACE RETURN WITH NOI GROWTH Priced at $5,200,000, or $208,000 per unit, the property offers an attractive 5.42% in-place cap rate, with projected performance increasing to a 6.41% pro forma cap rate. Current NOI of ~$281,860 is projected to increase to ~$333,335, representing 18% NOI growth through a combination of rental upside and the monetization of the property’s garage parking. DESIRABLE UNIT MIX & EXCEPTIONAL PARKING The property consists of (19) one-bedroom units, (4) studios and (2) two-bedroom/two-bath units, together with 29 secured garage parking spaces, on-site laundry facilities, separately metered utilities and copper plumbing. The predominantly one-bedroom unit mix is well suited to the surrounding Koreatown renter base, while the property's parking ratio of more than one space per unit represents a particularly valuable amenity in this dense urban location. HIGHLY-WALKABLE, CONVENIENT TRANSIT LOCATION Situated in a highly walkable Koreatown location with a 90 Walk Score, 424 S. Commonwealth provides residents convenient access to the neighborhood’s extensive dining, nightlife, shopping and entertainment amenities, as well as Metro rail connectivity throughout Central Los Angeles. The combination of a strong in-place return, non-RSO status, income upside and an irreplaceable central Los Angeles location positions the property as a compelling opportunity for investors seeking both current cash flow and long-term appreciation.