343 South Occidental Boulevard

Los Angeles, CA 90057

$3,198,000
Price
1
Beds
2
Baths
10,218 Sq. Ft.
$313 / Sq. Ft.
10,218
Sq. Ft.
$313
per Sq. Ft.

Description

18 unit low rise garden style apartment building for sale with tremendous upside of 53% to peak proforma in one of the few remaining pockets in Los Angeles that hasn't seen big growth...yet. A short drive off the 101 and the Silver Lake Blvd exit is 343 S Occidental Blvd. The location is Silver Lake a few blocks to the north and Koreatown a few blocks to the east. 10 of the units are one bed one bath, 8 are studios. Rents were last raised February 2024. Current rents are $18,936/mo ($227,236/yr)....18 unit low rise garden style apartment building for sale with tremendous upside of 53% to peak proforma in one of the few remaining pockets in Los Angeles that hasn't seen big growth...yet. A short drive off the 101 and the Silver Lake Blvd exit is 343 S Occidental Blvd. The location is Silver Lake a few blocks to the north and Koreatown a few blocks to the east. 10 of the units are one bed one bath, 8 are studios. Rents were last raised February 2024. Current rents are $18,936/mo ($227,236/yr). Highest 1 bed unit is $1700/mo. Highest studio is $1500/mo. February 2025 rents at 4% increase gets to a 4.8 cap & 13.5 GRM. Proforma rents indicate $29,000/mo or ($348,000/yr) at 8.3 cap & 9.2 GRM. All units are occupied and rents are current. Laundry is on site. There are 13 parking spaces with the potential to add more. Soft story retrofit completed in 2019.
  1. Listed by Aram Gaboudian • DRE #01493911 • Brokerage DRE #01364089 • Keller Williams Downtown LA

Property Details for 343 South Occidental Boulevard

Zoning
LAR4
Parcel Number
5155009006
Total Units
18.0
Living Area
10218
Source Living Area
Assessor
Area
Downtown L.A. (C42)
Vacancy Rate
0
Lot Size Area
12243
LISTING UPDATED: 08/28/2024 03:54 PM

Property Details for 343 South Occidental Boulevard

StatusActive
MLS #24-406887
Days on Market148
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1949
Lot Size0.28 AC / 12,243 SF
CountyLos Angeles County

Building Information for 343 South Occidental Boulevard

Stories2Residences-Year Built1949Building Size-Lot Size0.28 AC / 12,243 SF

Property Information for 343 South Occidental Boulevard

Community / Development
Community / Development
  • Number Of Units: 18
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: attached
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $236,325
  • Net Operating Income: $154,544.00
  • Gross Income: $236,325
  • Gross Rent Multiplier: $13.50
  • Total Annual Expense: 81780
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2812
  • Lot Size Square Feet: 12243
Parking Details
Parking Details
  • Parking Garage: Carport, Parking Space, Uncovered
  • Total Parking: 13
  • Parking Features: Carport, Parking Space, Uncovered
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Wall Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Garbage Disposal
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 06-25-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,197.60
  • Unit Actual Rent: $1,197.60
  • Unit Projected Rent: $1,700.00
  • Like Units: 10
Unit 2 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $965.14
  • Unit Actual Rent: $965.14
  • Unit Projected Rent: $1,500.00
  • Like Units: 8
Unit Details
  • Unit Type Type: 2106, 2107

Property History for 343 South Occidental Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 343 South Occidental Boulevard

Taxable ValueLand$1,020,000Additions$2,109,500Total$3,129,500
Tax Record2024$39,290 ($3,274 / month)
Home Facts
Total Finished SqFt10,218 SqFtAbove Grade Finished SqFt10,218 SqFtLot Size12,243 SqFtStyleMulti-Family Res (5+ Units)Year Built1949ZoningLAR4CountyLOS ANGELESAPN5155-009-006

Schools near 343 South Occidental Boulevard

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Commonwealth Avenue Elementary School
PublicK to 5

Virgil Middle School
Public6 to 8

Academic Leadership Community School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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343 South Occidental Boulevard is a multi-family home for sale in Los Angeles, CA 90057. This property was listed for sale on June 25, 2024 by Keller Williams Downtown LA, it's currently listed at $3,198,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Commonwealth Avenue Elementary School, Virgil Middle School and Contreras Learning Center-School Of Social Justice. 343 South Occidental Boulevard is a 1-bed, 2-bath, 10,218 sqft multi-family home built in 1949.

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Listing Courtesy of Keller Williams Downtown LA, Aram Gaboudian, DRE #01493911

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.