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… Read More 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. Read Less
Property listed by Marcus & Millichap, Neema Ahadian 310-909-5500
Listing Snapshot
Days Online
43
Last Updated
Property Type
Other
Beds
26
Square Ft.
14,308
Lot Size
0.3 Acres
Year Built
1969
MLS Number
25523141
Additional Details
Building
Built in 1969, Building area total: 14,308, Levels: ThreeOrMore, Living area: 14308, 1 building
Cooling
None
Heating
None
Income
Gross income: $211,096, Net operating income: $66,233
Lot
0.3044 acres, 13,260 square feet, Size: 13,260
Parking
16 totals parking, Gated
Property
Zoning: LARD1.5
Find The Perfect Home
'VIP' Listing Search
Whenever a listing hits the market that matches your criteria you will be immediately notified.
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Confirm your time
Fill in your details and we will contact you to confirm a time.
