248 S Hobart Los Angeles, CA 90004
10,188 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW25219562
HOA Y/N No
Year Built 1928
Lot Size 10,188 Sqft
Property Sub-Type Multi Family
Property Description
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.
Location
State CA
County Los Angeles
Area Krea - Koreatown
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Common Area
Exterior
Utilities Available Electricity Available, Natural Gas Available, Sewer Available
Building
Lot Description Paved
Story 2
Water Public
Others
Tax ID 5517014017
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Nearby Locations
- 10
Ivanhoe Elementary
Public | KG - 5
- 9
Citizens of the World Charter
Public | KG - 8
- 9
Equitas Academy Charter
Public | KG - 5
- 8
Melrose Avenue Elementary School
Public | KG - 6
- 8
3rd Street Elementary School
Public | KG - 5
- 8
Larchmont Charter
Public | KG - 12
- 8
Queen Anne Place Elementary School
Public | KG - 5
- 8
Los Feliz STEMM Magnet School
Public | KG - 6
- 8
Hoover Street Elementary
Public | KG - 5
- 8
Franklin Avenue Elementary
Public | KG - 5
- 7
Cheremoya Avenue School
Public | PK - 6
- 7
Hollywood Primary Center
Public | KG - 3
- 7
Dr. Sammy Lee Medical and Health Science Magnet
Public | KG - 5
- 6
Wilshire Park Elementary
Public | KG - 5
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Van Ness Avenue Elementary
Public | KG - 5
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Kim Elementary School
Public | KG - 5
- 6
Cahuenga Elementary School
Public | KG - 5
- 6
Downtown Value
Public | KG - 8
- 6
Micheltorena Elementary
Public | KG - 5
- 5
City Charter Elementary School
Public | KG - 5
- 8
Rise Kohyang Middle School
Public | 6 - 8
- 7
Alliance Gertz-Ressler Richard Merkin 6-12 Complex
Public | 6 - 12
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John Burroughs Middle School
Public | 6 - 8
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Virgil Middle School
Public | 6 - 8
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Thomas Starr King Middle School
Public | 6 - 8
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New Designs Charter
Public | 6 - 12
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Pico Pico Middle School
Public | 6 - 8
- 4
Magnolia Science Academy 5
Public | 6 - 12
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Bancroft Middle School
Public | 6 - 8
- 4
Joseph Le Conte Middle School
Public | 6 - 8
- 4
RFK Community Schools - Ambassador School of Global Leadership
Public | 6 - 12
- 4
Los Angeles Academy of Arts & Enterprise Charter
Public | 6 - 12
- 4
Vista Charter Middle School
Public | 6 - 8
- 4
Alliance College-Ready Middle Academy No. 12
Public | 6 - 8
- 2
Monsenor Oscar Romero Charter Middle School
Public | 6 - 8
- 1
Johnnie Cochran Jr. Middle School
Public | 6 - 8
- 1
Apex Academy
Public | 7 - 12
- 1
Berendo Middle School
Public | 6 - 8
- 1
Young Oak Kim Academy
Public | 6 - 8
- 1
John Liechty Middle School
Public | 6 - 8
- 9
Alliance Dr. Olga Mohan High School
Public | 9 - 12
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John Marshall High School
Public | 9 - 12
- 8
Orthopaedic Hospital
Public | 9 - 12
- 7
Math and Science College Preparatory
Public | 9 - 12
- 7
Frederick Douglass Academy High School
Public | 9 - 12
- 7
STEM Academy of Hollywood
Public | 9 - 12
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Central City Value
Public | 9 - 12
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Camino Nuevo High No. 2
Public | 9 - 12
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Alliance College-Ready Academy High No. 16
Public | 9 - 12
- 5
Hollywood High School
Public | 9 - 12
- 5
Belmont Sh-la Teacher Preparatory Academy
Public | 9 - 12
- 4
RFK Community Schools - Los Angeles High School of the Arts
Public | 9 - 12
- 4
Santee Education Complex
Public | 9 - 12
- 4
Miguel Contreras Learning Complex - School of Business & Tourism
Public | 9 - 12
- 3
Los Angeles High School
Public | 9 - 12
- 3
Belmont High School
Public | 9 - 12
- 3
Miguel Contreras Learning Complex - Academic Leadership Community
Public | 9 - 12
- 2
Miguel Contreras Learning Complex - School of Global Studies
Public | 9 - 12
- 1
Helen Bernstein High School
Public | 9 - 12
- 1
RFK Community Schools - School for the Visual Arts & Humanities
Public | 9 - 12