Property Detail

Description

We are pleased to present an eighteen (18) unit apartment building located at 845 N Bunker Hill Ave in Los Angeles, California. The subject property is located in a great Chinatown location, north of Cesar Chavez Ave and west of Hill St. Located in the heart of Chinatown, the property consists of ten (10) studios and eight (8) one-bedrooms and has undergone significant capital improvements, including a new roof, upgraded fire alarm and sprinkler systems, copper plumbing, and updated electrical. The property offers rare central HVAC for a vintage asset, along with on-site security and laundry facilities. The property also presents an excellent value-add opportunity with a nearly 4,000 SF unfinished basement that offers future flexibility and potential ADU conversion. Additional benefits include separately metered gas and electricity, wood-frame stucco construction, low-maintenance landscaping, and a location just steps from Chinatown's restaurants, transit, and everyday amenities. Overall, the property combines capital improvements, rental upside potential (+35%), and a nearly 4,000 SF unfinished basement, offering investors a high initial cap rate in a very attractive Chinatown location.