311 S New Hampshire Ave, Los Angeles, CA 90020
311 S New Hampshire Ave, Los Angeles, CA 90020
311 S New Hampshire Ave, Los Angeles, CA 90020
10
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$3,795,000
Est. payment /mo
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24 Beds
24 Baths
11,792 SqFt
New

311 S New Hampshire Ave Los Angeles, CA 90020

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Kami Rahbaran

Kami Rahbaran

+1(702) 927-2797

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 11,792 sqft

Price per Sqft $321

MLS Listing ID 26106043

Bedrooms 24

Year Built 1989

Lot Size 9,015 Sqft

Acres 0.207

Property Sub-Type Multi-Family

Property Description

SEE OM in DOCS section of the listing. We as the exclusive listing agent, are pleased to present the opportunity to acquire 311 S New Hampshire Ave., a sixteen-unit multifamily investment property located in the Koreatown neighborhood of Los Angeles. Investors have the opportunity to buy a stabilized investment with only two vacant units that are rent-ready for lease up. Because the building was constructed in 1989, the property is exempt from the Los Angeles Rent Stabilization Ordinance and is governed instead by the statewide cap under AB 1482. Property Description: 311 S New Hampshire Ave. is a sixteen-unit multifamily property located in the Koreatown neighborhood of Los Angeles, near 3rd Street and Vermont Avenue. Built in 1989, the property is arranged as a single 11,792 square-foot building on a 9,015 square-foot LAC2-zoned lot. UNIT DETAILS Unit features include large bedrooms, large full bathrooms, large kitchens, separate spacious living room areas and ample closet and storage space. Many of the units feature vaulted ceilings and have updated kitchens, bathrooms and flooring. Due to ample available space, investors can explore the possibility of adding washer/dryers in each unit. COMMON AREA DETAILS The property has secured gated access with an intercom system. There is a laundry room on site for tenant use. All units are separately metered for electricity and gas and have their own individual water heaters and the landlord pays for water and trash. Gated access parking at street level is provided on site and is more than adequate for the number of units. Chargie EV chargers are also available in the parking area as an attractive amenity for tenants. Investment Highlights: EXEMPT FROM THE LA RSO 1989 construction places the property under CA State AB 1482 currently allowing more favorable 8.7% annual increases HIGH IN-PLACE CAP RATE 7.14% cap rate upon lease up of vacant rent-ready units 103 and 202 at market rents BALANCED UNIT MIX Eight 1Bed+1Bath and eight 2Bed+2Bath units averaging 737square feet across 11,792 square feet of building area. ADDITIONAL INCOME STREAMS Parking, laundry and RUBS income add an estimated $45,880 per year to rental income. SUPERIOR IN-PLACE RETURN TO COMPARABLES The offering prices to a 7.14%in-place cap and 8.75 GRM against a comparable average of 5.66% and 11.12, and to$237,188 per unit against a $255,516 average. RENTAL UPSIDE In-place rents sit $4,087 per month, or 12.6%, below market, supporting an 8.04% pro forma cap rate. PRIME KOREATOWN LOCATION Near 3rd Street and Vermont Avenue, minutes from the Wilshire Boulevard corridor, the Metro B and D Lines at Wilshire/Vermont and Downtown Los Angeles.

Location

State CA

County Los Angeles

Area Mid-Wilshire

Zoning LAC2

Rooms

Other Rooms None

Interior

Heating Other

Cooling Other

Equipment Other

Exterior

Parking Features Covered Parking, Controlled Entrance, Gated

Garage Spaces 24.0

Building

Story 3

Level or Stories Multi/Split

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Equity Union

NEARBY SCHOOL & BUSINESS

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Kami Rahbaran

Kami Rahbaran

Agent RE.S.0190800

+1(702) 927-2797

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311 S New Hampshire Ave