Koreatown Apartments

Iconic Closes St Andrews Apartments

Iconic Closes St Andrews Apartments

Iconic is pleased to announce the sale of St Andrews Apartments in Koreatown. The property sold at $6,235,000 which equates to $283,409 per unit, $333 per square foot and a 16.26 GRM. In addition to the purchase price the buyer was responsible to complete the earthquake retrofit work in excess of $350,000.

Iconic Lists - Habitat Apartments

Iconic Lists - Habitat Apartments

Iconic Investments is pleased to be marketing for sale Habitat Apartments, a 19-unit property located at 514 S. Mariposa Ave. in LA’s thriving Koreatown. This is an excellent opportunity for investors who want to capitalize on this submarket’s soaring popularity.

Iconic Lists - The Commonwealth in Koreatown

Iconic Investments is pleased to be marketing for sale The Commonwealth Apartments, a 12-unit property located at 441 S. Commonwealth Ave. in LA’s thriving Koreatown. This is an excellent opportunity for investors who want to capitalize on this submarket’s soaring popularity.

Another Legislative Shot at Landlords Repeals Vacancy Decontrol

Another Legislative Shot at Landlords Repeals Vacancy Decontrol

If Costa-Hawkins is repealed, owners of apartments would not be able to increase rents when a unit vacates. This would make apartments an unattractive investment. Meanwhile, there would be no incentive for owners to make capital improvements on their properties.

Iconic Sells Pico Union Land

Iconic Sells Pico Union Land

Iconic Investments represented the seller and the buyer in the sale of 2261-2269 W. 14th St. in Los Angeles. The property consists of two parcels of land totaling 13,500 square feet on a corner lot.(Orchard Ave and 14th Street) in LA’s Pico Union neighborhood. Each parcel has one single-family residence. All Cash - 30 Day Close of Escrow. 

Iconic Sells Villa Girasol in Koreatown

Iconic Sells Villa Girasol in Koreatown

Iconic Investments sold Villa Girasol, a 16-unit apartment property in L.A.’s hot Koreatown submarket, for $2,330,00 million. The sales price for 974 S. Catalina St. equates to $145,625 per unit and $327.24 per square foot. The gross rent multiplier (GRM) is 12.28 and the cap rate is 4.2 percent.

Iconic Investments Sells Koreatown Renovation Opportunity

Iconic Investments Sells Koreatown Renovation Opportunity

Iconic Investments’ Peter Strauss sold Habitat, a 23-unit apartment building at 3333 San Marino St. in Koreatown, for $5.35 million. The sale price equates to $232,608 per unit and $358 per square foot with a pro-forma cap rate of 5.25 percent post renovations. The buyer has the ability to renovate and remodel the entire building