Welcome to 248 S Hobart Blvd, an exceptional 8-unit apartment building located in the heart of Koreatown, one of Los Angeles’ most vibrant and high-demand rental markets. Built in 1928, this charming property offers a vintage aesthetic while benefiting from recent upgrades, including a new roof (2020), exterior paint and patching (2020), and updated electrical systems (2022–2023).
The building consists of eight spacious 2-bedroom, 1.25-bath units, each approximately 920 sq. ft., spread across two floors. All units are separately metered, providing operational efficiency. Current rents are significantly below market, offering substantial upside potential as units turn over. Pro forma rents project income growth to over $17,600 per month, supporting a pro forma cap rate of 6.64%.
Situated on a 10,386 sq. ft. lot with R3-1 zoning, the property totals 7,359 sq. ft. of building space. Residents enjoy easy access to local amenities including renowned restaurants, shopping, markets, schools, and public transit—just blocks from the Metro Red and Purple lines. The property’s walkable location, one block off Western Avenue, makes it highly desirable for tenants seeking convenience and connectivity.
Ideal opportunity for investors seeking stable cash flow, low vacancy, and strong long-term upside in one of Los Angeles’ most dynamic rental submarkets.
The building consists of eight spacious 2-bedroom, 1.25-bath units, each approximately 920 sq. ft., spread across two floors. All units are separately metered, providing operational efficiency. Current rents are significantly below market, offering substantial upside potential as units turn over. Pro forma rents project income growth to over $17,600 per month, supporting a pro forma cap rate of 6.64%.
Situated on a 10,386 sq. ft. lot with R3-1 zoning, the property totals 7,359 sq. ft. of building space. Residents enjoy easy access to local amenities including renowned restaurants, shopping, markets, schools, and public transit—just blocks from the Metro Red and Purple lines. The property’s walkable location, one block off Western Avenue, makes it highly desirable for tenants seeking convenience and connectivity.
Ideal opportunity for investors seeking stable cash flow, low vacancy, and strong long-term upside in one of Los Angeles’ most dynamic rental submarkets.
Property Details
Price:
$1,800,000
MLS #:
PW25219562
Status:
Active
Beds:
0
Baths:
0
Address:
S Hobart
Type:
Commercial
Subtype:
Multi Family
Neighborhood:
krea
City:
Los Angeles
Listed Date:
Sep 17, 2025
State:
CA
Total Sq Ft:
7,359
ZIP:
90004
Lot Size:
10,189 sqft / 0.23 acres (approx)
Year Built:
1928
Schools
Interior
Cooling
W W
Heating
W L
Laundry Features
A R
Exterior
Financial
Maintenance Fee
$12,936
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Courtesy of Real Broker. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than BUSINESS MA include the name of the listing broker. Neither the listing company nor BUSINESS MA shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2025. California Regional Multiple Listing Service. All rights reserved. S Hobart
Los Angeles, CA
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