328 N Alexandria Avenue
An Eight-Unit Value-Add Community Bordering Koreatown
Marketing description
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale 328 North Alexandria Avenue, an eight-unit apartment property located just north of Beverly Boulevard in the East Hollywood submarket of Los Angeles, bordering Koreatown to the south.
The subject property offers easy access to Downtown Los Angeles, Hollywood, and the Mid-Wilshire corridor, with the Metro Red Line’s Vermont/Beverly Station located within walking distance. East Hollywood is one of the most centrally located and culturally diverse neighborhoods in Los Angeles. Residents enjoy a dense mix of restaurants, cafes, and retail along Vermont Avenue and Melrose Avenue, with Thai Town, Little Armenia, and the dining and nightlife corridors of Koreatown all within close reach.
Situated on a 6,900-square-foot parcel, the property is comprised of three studios and five one-bedroom units totaling 3,833 rentable square feet. Built in 1929, the asset reflects the classic architectural character of the neighborhood. The property has 53% remaining rental upside achievable through interior renovations and exterior curb-appeal improvements.
328 North Alexandria Avenue offers investors an opportunity to acquire a value-add asset in one of the most central infill submarkets of Los Angeles. The combination of in-place cash flow and substantial mark-to-market potential make 328 North Alexandria Avenue a compelling acquisition opportunity.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
Investment highlights
An Attractive Basis
Offered at $150,000 per unit, providing a competitive entry point for a vintage asset in one of Los Angeles’ most central rental submarkets
Substantial Value-Add Opportunity
There is 53% remaining rental upside through interior renovations and exterior improvements
Dense Infill Location Central to Employment & Entertainment
Located in close proximity to a wide variety of retail, restaurants, cafes, bars, theaters, grocery stores, gyms, and employment opportunities throughout East Hollywood, Koreatown, Hollywood, and Downtown Los Angeles
Direct Metro Rail Access
Walking distance to the Vermont/Beverly Metro Station, providing direct rail access to Downtown Los Angeles, Hollywood, and Universal City
Potential ADU Opportunity
Situated on an oversized LAR3 parcel, new ownership may add detached Accessory Dwelling Units (ADUs) on excess land, creating additional income and long-term appreciation potential –Buyer to verify
Proximity to Major Institutional Anchors
Close to Los Angeles City College, Kaiser Permanente, Children’s Hospital Los Angeles, and Barnsdall Art Park — key employment and cultural drivers of the East Hollywood submarket
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
