1047 Irolo Street

Marcus and Millichap is pleased to present a twenty (20) unit multifamily property located at 1047 Irolo Street in Los Angeles, California. The property is situated in a n ideal Koreatown location just

south of Olympic Boulevard and east of Western Ave.

Koreatown is one of the most vibrant and diverse neighborhoods in all of Los Angeles. It offers a unique blend of culture, nightlife, and cuisine to both locals and visitors alike. The area is famous for its rich food scene, from traditional barbeque to innovative fusion dishes and trendy cafes. In addition to its culinary offerings, Koreatown is home to some of the city ’s best nightlife, with an array of bars, lounges, and speakeasies. The neighborhood also boasts cultural landmarks such as the Korean American National Museum and a variety of spas and wellness centers, including the iconic Wi Spa. Its central location offers convenient access to major freeways like the Interstate 10, US Route 101, and California State

Route 110, making it easy to navigate to other parts of the city. Koreatown provides a dynamic, fast-paced urban experience while maintaining a strong sense of community and heritage.

Built in 1926, this property is comprised of twenty (20) studio units. Two (2) units will be de livered vacant allowing an investor to capture market rents on these units from day one. This property boasts a unique Nubian-inspired architecture, with the building resembling the grandeur of the Pyramids of Meroe. In addition, the property is master metered for gas, allowing rent to be increased by 5% annually. Averaging over 435 SF each, these large studio units have over 45% rental upside potential. The property includes a roughly 200 SF laundry room for tenants, allowing an investor to net additional income. This is the first time in over 30 years this property has been on the market.