1247 West 8th Street
Twelve-unit apartment building at 1247 W 8th Street in the Westlake neighborhood of Los Angeles, offered at $1,300,000 with an 8.00% cap rate ($103,986 NOI). The unit mix is four studios and eight one-bedrooms, one of which is vacant. The listing cites roughly 30% rental upside and cash flow about 170 basis points above current debt.
The two-story count is not stated, but the record shows one building of 6,762 SF built in 1910, on a 5,508 SF lot zoned LACW (APN 5143-011-012). Gas and electricity are separately metered, and the electrical panels are new.
The property sits just north of Olympic Boulevard and west of Union Avenue, next to Downtown Los Angeles. The 110 Freeway and the Metro A and B Lines are nearby, along with MacArthur Park, LA Live, Crypto.com Arena, and the restaurants, grocery stores, and nightlife of Downtown. The vacant unit lets a buyer set rent at current market levels from day one.
- 12 units: four studios and eight one-bedrooms
- 8.00% cap rate on $103,986 NOI
- About 30% rental upside potential
- Separately metered for gas and electricity, with new electrical panels
- One vacant unit available
- Close to the 110 Freeway, Metro A and B Lines, and Downtown LA
More property details
About this property
Marcus & Millichap is pleased to present a twelve-unit apartment building located at 1247 W 8th Street in Los Angeles, California, in the desirable Westlake neighborhood, just north of Olympic Boulevard and west of Union Avenue. Situated adjacent to Downtown Los Angeles, the property features a unit mix of four studio apartments and eight one-bedroom units, including one vacant unit, and offers approximately 30% rental upside potential. The property is separately metered for gas and electricity, features new electrical panels, and generates strong cash flow at approximately 170 basis points above current debt. Residents benefit from convenient access to the 110 Freeway, Metro A and B Lines, major commercial corridors, and a variety of nearby amenities, including MacArthur Park, LA Live, Crypto.com Arena, restaurants, entertainment venues, grocery stores, and nightlife throughout Downtown Los Angeles and the surrounding neighborhoods. With its central location, attractive unit mix, immediate access to transportation and major freeways, available vacant unit, and significant rental growth potential, the property presents an appealing investment opportunity for investors seeking to capitalize on sustained multifamily housing demand near Downtown Los Angeles.
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