512 S Hobart Blvd, Los Angeles, CA 90020

Description

***MAY BE PURCHASED INDIVIDUALLY OR IN COMBINATION WITH ANY OR ALL OF 100 N KENMORE, 601 N ROSSMORE, 1311 INGRAHAM & 3333 4TH ST*** 508 & 512 S Hobart Blvd is a 49-unit, seven-story apartment building built in 1929, plus an additional adjacent parcel, located in the heart of Koreatown. The property reflects the scale and permanence of pre-war Los Angeles construction, with classic proportions, a strong street presence, and architectural detailing that is increasingly difficult to replicate today. Over the years, the building has been maintained with care, including the replacement of a substantial portion of the roof and upgrades to the electrical system, preserving both its character and core infrastructure. The building is serviced by an elevator and is master metered for electricity and gas. The unit mix consists of studios and one-bedroom apartments, a configuration well suited to the neighborhood's renter profile. Units retain many of the attributes typical of late-1920s construction generous windows, defined living spaces, and practical layouts offering a blend of historic charm and functional design. Additional amenities include controlled access and on-site laundry. One of the more distinctive aspects of the property is its parking configuration. In addition to subterranean parking uncommon for an asset of this vintage the offering includes a separate, adjoining parcel to the north that currently operates as a surface parking lot (508 S Hobart Blvd). Beyond its current use, this parcel introduces a meaningful long-term option for a buyer to explore alternative uses or development potential, subject to investigation. The location is a core strength. Positioned within Koreatown, just off Wilshire Boulevard, the property sits in one of the most active and densely populated submarkets in Los Angeles. Residents have convenient access to the Wilshire/Western Metro station, The Wiltern, MacArthur Park, and an extensive collection of neighborhood retail and dining options. Its central positioning also allows for straightforward connectivity to Downtown Los Angeles, Hollywood, and other major employment centers. 508 & 512 S Hobart Blvd offers scale, architectural integrity, and long-term optionality in a supply-constrained location a well-located historic asset with both stability and future upside embedded in the land. Note: The subject property has been identified by LADBS as possibly subject to the city's non-ductile concrete retrofit program. Buyer is advised to do its own due diligence with respect to this potential condition.