1329 S New Hampshire Ave, Los Angeles, CA 90006

4-Plex in Pico Union | 90% Upside | Large Lot | 6.03% Cap Rate

Sold: $630,000

Property Highlights

Quadruplex built in 1912
Represented both Buyer & Seller
Charming Craftsman style architecture
All large 1+1 units, average just under 1,000 SqFt each
Very low price per square foot of $158/SF
Long term low-paying tenants; 90% upside on rents
First time on market in 58 years!
Large 6,285 SqFt Lot zoned LARD1.5
Property was earthquake retrofitted in 2009 with 15-year warranty on the work included
Very low expense load property
6.03% Cap Rate and 11.44 GRM
Pico Union neighborhood near Downtown LA, Koreatown, and USC
Perfect owner-occupier opportunity

The Deal Story

The Glaser Group is pleased to announce the successful sale of 1329 S New Hampshire Ave, a charming quadruplex in the vibrant Pico-Union neighborhood of Los Angeles. After navigating significant deferred maintenance and outdated systems, both parties reached an agreeable credit, resulting in a sale price of $630,000, with an attractive 6.03% cap rate and 11.44 GRM. This property, which had not been on the market in 58 years, was a rare value-add investment opportunity. Built in 1912, the Craftsman-style building features four spacious 1-bedroom/1-bath units, each averaging just under 1,000 square feet, all situated on a generous 6,285 square foot lot (zoned LARD1.5). The sale boasted an exceptionally low price per square foot of $158/SF, representing tremendous value in today’s market. Additionally, the new SB1211 ADU law presents the potential for the buyer to add up to four (4) detached ADUs in the back of the lot.

With long-term tenants in place, there is significant potential for rental income growth, with 90% upside on current rents. The quadruplex also benefits from a low expense load and underwent earthquake retrofitting in 2009, complete with a 15-year warranty. Located conveniently near Downtown LA, Koreatown, and USC, 1329 S New Hampshire Blvd combines unique architectural charm with substantial upside potential.

If you’re interested in selling or acquiring similar deals in the LA area, please do not hesitate to reach out to our team.