5
See all 5 photos
$2,300,000
Est. payment /mo
26 Beds
16 Baths
14,308 SqFt
Active
2622 S Hobart BLVD Los Angeles, CA 90018
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 14,308 sqft
Price per Sqft $160
MLS Listing ID 25523141
Bedrooms 26
HOA Y/N No
Year Built 1969
Lot Size 0.304 Acres
Property Description
We are pleased to present 2622 S Hobart Blvd, a 16-unit value-add investment opportunity in the rapidly evolving West Adams neighborhood of Los Angeles. Just south of W Adams Blvd, the property is situated minutes from Downtown Los Angeles and Koreatown, with convenient access to the 10 Freeway. The subject property was originally a HUD Project-Based Section 8 property and was opted out of the HUD program in September 2011. The building features a well-balanced unit mix of six one-bedrooms and ten two-bedrooms, along with 16 parking spaces. With current rents significantly below market, the property offers an outstanding opportunity for investors to capitalize on over 88% rental upside. The property is well positioned for a Naturally Occurring Affordable Housing (NOAH) conversion, as 38% of the current tenants are voucher holders, while the remaining units rent for below approximately 80% of the area's median income (AMI). This favorable rent structure enhances the property's long-term stability and appeals to both value-add and mission-driven affordable housing operators. Ideally located less than a mile from the Metro Expo Line and steps from transit stops at W Adams Blvd and S Western Ave, 2622 S Hobart Blvd offers residents excellent connectivity to employment hubs and cultural districts. The property is also within walking distance of local retail, enhancing tenant appeal. Mid-City remains one of Los Angeles' most densely populated and historically significant neighborhoods, with sustained demand for rental housing due to its proximity to major job centers and educational institutions. This investment presents a rare opportunity to acquire a well-located asset with significant value-add potential in one of the city's most dynamic submarkets.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LARD1.5
Interior
Heating None
Cooling None
Fireplace No
Exterior
Parking Features Gated
Total Parking Spaces 16
Building
Story 3
Entry Level Three Or More
Level or Stories Three Or More
New Construction No
Others
Senior Community No
Tax ID 5053012034
Special Listing Condition Standard
Listed by Neema Ahadian • Marcus & Millichap