Property Detail

Description

We are pleased to present 3148 James M. Wood Boulevard, an exceptional 8-unit turnkey apartment building located in the heart of Koreatown, one of Los Angeles' most dynamic rental markets. Originally built in 1952, the property features an attractive unit mix of (2) one-bedroom/one-bathroom units and (6) two-bedroom/one-bathroom units.The property underwent a comprehensive interior and exterior renovation in 2020, creating a highly desirable, modern living environment for tenants. Each residence features an open-concept floor plan with recessed lighting, new flooring, fully renovated kitchens with custom cabinetry, stainless steel appliances, stone countertops, and designer tile backsplashes. Bathrooms have been tastefully upgraded with tiled walk-in showers featuring glass enclosures, new vanities with stone countertops, and contemporary fixtures. Every unit also includes an in-unit washer and dryer along with an individual water heater, providing added convenience and efficiency for residents.Exterior and system improvements completed during the renovation include new windows, roof, electrical, fresh exterior paint, and updated metal railings on the balconies and staircases, resulting in strong curb appeal and reduced near-term capital expenditure requirements.The approximately 6,800-square-foot building is situated on a 6,645-square-foot corner lot zoned LAR4, providing investors with long-term redevelopment potential in a rapidly evolving neighborhood.The property boasts an outstanding Walk Score of 95, placing residents within close proximity to Koreatown's vibrant collection of coffee shops, restaurants, bars, markets, and retail destinations along Olympic Boulevard, Wilshire Boulevard, 8th Street, and Western Avenue. The location also offers exceptional regional connectivity with convenient access to the 101, 10, and 110 Freeways, making commuting to Downtown Los Angeles, Hollywood, Beverly Hills, Century City, Culver City, and Westwood quick and convenient.Additionally, the property is located just 0.5 miles from the Wilshire/Normandie Metro D Line Station, providing direct access to Downtown Los Angeles and, through the Metro D Line Extension, expanding westward service to Beverly Hills, Century City, and Westwood as stations continue opening through 2027. This continued investment in public transportation further enhances the property's long-term desirability and investment appeal.