14623 Roxton Ave, Gardena, CA 90249

Property Overview

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2375 W 12th St is an eleven-unit multifamily investment located at the Koreatown–Westlake border of Los Angeles, offering investors immediate income with substantial value-add potential through rent growth, unit renovations, and operational efficiencies. The property features a desirable mix of (4) two-bedroom/one-bath units, (6) one-bedroom/one-bath units, and (1) studio across 12,306 square feet of rentable space. With current rents averaging $1,194 per month compared to market rents of $2,087 per month, investors can unlock more than $117K in additional annual rental income. Additional upside can be realized by implementing RUBS, upgrading interiors, and monetizing the rare 12 on-site parking spaces. Built in 1923, the property retains historic charm while offering a straightforward repositioning strategy for long-term appreciation.

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Key Property Details

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• Location: 2375 W 12th St, Los Angeles, CA 90006
• ‍Lot Size: 13,999 square feet‍
• Total Building Area: 12,306 square feet
• ‍Units: 11 (4 × 2BR/1BA, 6 × 1BR/1BA, 1 × Studio)
• ‍Zoning: LAR4
• ‍Year Built: 1923
• ‍Parking: 12 spaces
• ‍Rent Control: Yes
• ‍Utilities: Master-metered water/sewer, separately metered gas & electric

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Investment Highlights

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• $117K+ Annual Rent Upside – Current collections of $157K vs. market rent potential of $275K.
• Attractive Entry Point – Priced at $214K per unit and $191 per square foot in Koreatown/Westlake.
• Stabilized Performance – Pro forma 8.01% cap rate and 8.56% cash-on-cash return with repositioning.
• Parking Premiums – Twelve on-site spaces for eleven units, a rare advantage in this dense submarket.
• Operational Upside – Potential for RUBS implementation, professional management, and expense efficiencies.
• Prime Location – Walkable to Wilshire Blvd., close to Metro Red & Purple Lines, minutes to Downtown LA.

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Neighborhood and Accessibility

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Situated in one of Los Angeles’s most vibrant rental hubs, 2375 W 12th St lies at the intersection of Koreatown and Westlake, where consistent tenant demand is fueled by cultural amenities, nightlife, and proximity to major employment centers. Tenants benefit from access to Downtown Los Angeles (under 2 miles), a variety of restaurants and entertainment along Wilshire Boulevard, and landmarks such as MacArthur Park. Transit connectivity is excellent, with the Wilshire/Vermont and Westlake/MacArthur Park Metro stations nearby, and easy access to the I-10 and US-101 freeways. The area’s walkability and ongoing neighborhood revitalization ensure strong long-term rental demand.

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Market Trends and Financial Potential

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• Current Occupancy: Fully occupied (11 of 11 units leased)
• ‍Current Cap Rate: 3.44% at $2,350,000 asking price
• ‍Pro Forma Cap Rate: 8.01% with stabilization
• ‍Price Per Unit (PPU): $213,636
• ‍Price Per SF (PPSF): $190.96
• ‍Insurance Estimate: ~$787 per unit annually
• ‍Repairs & Maintenance: ~$850 per unit annually
• ‍Management Fee: 4% of Effective Gross Income
• ‍Reserves: $200 per unit annually

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For more information and to schedule a viewing, please contact:

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Taylor Avakian

Founder, The Group CRE

First Vice President, Lyon Stahl

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