1629 S New Hampshire Avenue
Property Description
The 5+ Unit Specialists are pleased to present 1629 S New Hampshire Ave, a 2023 new construction, non-rent-controlled 5-unit property located just minutes from USC. Delivered 100% leased at market rents and offering a REAL 6.29% cap rate, New Hampshire provides immediate cash flow from day one in a high-demand central Los Angeles rental market. Spanning an impressive 7,861 square feet across two modern buildings, the property features three spacious 3-bedroom residences and two massive 5-bedroom/5-bathroom residences. Each unit offers large, open floorplans, sleek kitchens and bathrooms, central HVAC, in-unit laundry, private balconies, and modern finishes throughout. Eight on-site parking spaces conveniently accessed from the rear alley further enhance tenant appeal. All units are separately metered for gas, electric, AND water, helping keep operating expenses exceptionally low and making this a truly turnkey, low-maintenance investment. Offered at $2,885,000, the property trades at just $367 per square foot and $577,000 per unit-an attractive basis for nearly 7,900 square feet of newer construction. Ideally positioned near USC, Downtown LA, and Koreatown, residents enjoy convenient access to major employment, education, dining, and entertainment hubs, as well as the 10 and 110 freeways. With its strong current yield, oversized units, low operating expenses, and high-quality construction, 1629 S New Hampshire offers a rare opportunity to acquire a fully stabilized newer construction asset in central Los Angeles.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,885,000 |
| No. of Units: | 5 |
| Year Built: | 2023 |
| Opportunity Zone: | No |
| Price per unit: | $577,000 |
| Number of Bedrooms: | 19 |
| Number of Bathrooms: | 18 |
ID: 3yd-MRMLSCA-BB26206740
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