San Mar Manor is a 56-unit 1920s vintage value- add opportunity located in the highly desirable Koreatown sub-market. Built in 1927, the subject property is constructed of reinforced masonry and is situated on a 10,200 square foot parcel, zoned LAR4. The property features well laid out floor plans consisting of 42 singles and 14 one-bedroom / one-bath units. The property is master-metered for all utilities and is subject to Los Angeles rent control statutes. San Mar Manor has undergone numerous capital improvements including a new electrical system that was completely re-wired less than 10 years ago and plumbing upgrades as units have been turned. Investors will have the opportunity to implement a comprehensive interior and exterior renovation to re-position the property into a truly unique 1920s vintage luxury community and increase rental income by an estimated 38 percent.
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