Estimated NOI Range
$430K – $525K
Subject to verified financials
Confidential Investment Offering • Multifamily
3951 Ingraham Street
The Union Building
Los Angeles, CA 90005 · Koreatown / Wilshire Center
13 Units · ±21,100 SF · Built 2017 · LAR4P
The Offering
A 2017-built, 13-unit asset in the core of Koreatown
An opportunity to acquire 3951 Ingraham Street, a 2017-construction, 13-unit apartment building of approximately 21,100 square feet on an R4 (LAR4P) lot in one of Los Angeles' densest and most liquid rental submarkets — roughly a five-minute walk from the Wilshire/Western Metro D (Purple) Line.
As newer construction, the property offers a modern unit and amenity profile, reduced near-term capital exposure relative to Koreatown's predominantly older stock, and a favorable regulatory posture: as post-1978 housing it sits outside the City of Los Angeles Rent Stabilization Ordinance, affording materially greater operational and pricing flexibility. The asset suits conventional multifamily operation as well as furnished, corporate, student, or co-living strategies, subject to buyer diligence and regulatory review.
Property Snapshot
Address3951 Ingraham St, LA 90005
SubmarketKoreatown / Central LA
Year Built2017
Units13
Building Size±21,100 SF
Lot Size±8,403 SF
ZoningLAR4P (R4)
APN5092-030-023
Bed / Bath (public record)±23 BR / 24 BA confirm
ParkingSecured subterranean
Flood ZoneFEMA X — outside SFHA
Rent ControlOutside LA RSO (2017)
2025–26 Assessed Value$8,749,165
2025–26 Property Tax~$106,514
Public-record characteristics; unit-level bed/bath, square footage, and parking count to be confirmed against rent roll and certificate of occupancy. Property taxes reset to buyer's basis on sale under Proposition 13.
Investment Highlights
Newer construction (2017)
Modern finishes and systems with lower near-term capex than Koreatown's older vintage stock — broader renter appeal and a cleaner operating profile.
Outside LA rent control
As post-1978 housing the property is exempt from the LA RSO, and as sub-15-year construction is generally exempt from AB 1482 caps (statutory notice required; confirm with counsel) — meaningful pricing flexibility.
Transit-oriented core location
±0.3 mi (5-min walk) to the Wilshire/Western Metro D Line, with direct access to Downtown, Mid-Wilshire, Hollywood, and USC-adjacent demand.
Multiple revenue strategies
Conventional, furnished/corporate, student, or co-living operation — flexibility to optimize revenue beyond traditional apartment leasing, subject to diligence.
Secured parking & elevator-served
Subterranean parking and an elevator-served building support premium rents and tenant retention in a parking-constrained submarket.
Boutique size, broad demand
A check size built for private capital, family offices, 1031 buyers, and boutique operators seeking newer Koreatown product — outside the SFHA, no mandated flood insurance.
Preliminary Valuation Guidance
Cap Rate Range
5.50% – 6.00%
Base case 5.75%
Preliminary Value
$7.5M – $9.0M
Midpoint ≈ $8.25M
Indicative Midpoint
$8,250,000
Price / Unit (at midpoint)
≈ $635,000
Price / SF (at midpoint)
≈ $391
Preliminary framework only. To be finalized upon confirmation of trailing financials, current rent roll, lease structure, operating expenses, reassessed property tax, insurance, and regulatory status.
Illustrative Cap-Rate Sensitivity
| Cap Rate | Value at $430,000 NOI | Value at $525,000 NOI |
|---|---|---|
| 5.00% | $8,600,000 | $10,500,000 |
| 5.25% | $8,190,000 | $10,000,000 |
| 5.50% | $7,820,000 | $9,550,000 |
| 5.75% — base | $7,480,000 | $9,130,000 |
| 6.00% | $7,170,000 | $8,750,000 |
| 6.25% | $6,880,000 | $8,400,000 |
| 6.50% | $6,620,000 | $8,080,000 |
Location & Market
Koreatown is among the most densely populated districts in the United States and one of Los Angeles' most resilient rental markets — walkable retail and dining, major Wilshire Corridor employment, and exceptional transit access. The submarket skews to a young, renter-dominant professional base, supporting durable occupancy and demand for newer product.
85,334
Population · 1 mi
37,183
Households · 1 mi
39%
Aged 25–44 (ZIP)
0.3 mi
To Metro D Line
Population and household figures within a 1-mile radius; age profile per ZIP 90005. Sources: third-party data aggregated from public records.
Market Context — Competing Listings
| Address | Area | Building SF | Asking Price |
|---|---|---|---|
| 681 Shatto Pl | 90005 | 24,642 | $5,299,000 |
| 839 S St. Andrews Pl | 90005 | 21,456 | $4,895,000 |
| 741 S Hobart Blvd | 90005 | 11,230 | $3,999,000 |
| 311 S New Hampshire Ave | 90020 | 11,792 | $3,925,000 |
| 514 S Mariposa Ave | 90020 | 13,725 | $3,700,000 |
Active competing listings of broadly comparable size in the immediate area, shown as market context (asking prices, not closed sales). Most are older vintage; 3951 Ingraham's 2017 construction and non-RSO status command a premium. Replace with verified closed comparables before distribution.
Likely Buyer Pool
- Private Los Angeles multifamily investors
- Korean-American family offices & Koreatown-focused buyers
- 1031-exchange buyers seeking newer product
- Boutique multifamily operators
- Furnished / corporate / student / co-living operators
- Regional private-equity real estate groups
Offering Process
Phase 1Teaser distribution to targeted buyers
Phase 2NDA execution & data-room access
Phase 3Tours & underwriting calls
Phase 4Initial LOI deadline
Phase 5Best-and-final, if competitive
Phase 6Selection on price & certainty of close
Pricing Positioning
Call for Offers — Guidance Available Upon Request
Whisper range: $8,000,000 – $8,750,000
Target: ≈ $8,250,000
Implied cap rate: ≈ 5.5% – 6.0%, subject to verified NOI
For More Information
Contact the Exclusive Listing Agent
[Broker / Agent Name] · [License #]
[Firm] · [Phone] · [Email]
Confidentiality & Disclaimer. This teaser is provided for preliminary discussion purposes only and
does not constitute an offer to sell or a solicitation of an offer to buy. Information has been obtained from sources
believed reliable, including public records, but has not been independently verified; no representation, warranty, or
guarantee, express or implied, is made as to its accuracy or completeness. All valuation figures are preliminary
estimates subject to confirmation of actual rent roll, operating statements, lease structure, expenses, reassessed
property taxes, insurance, and regulatory status (including RSO, AB 1482, JCO, SCEP, and LAHD matters). Prospective
purchasers should conduct their own independent investigation and rely solely on their own due diligence, legal
counsel, tax advisors, and financial analysis. Square footage, unit count, bedroom/bath count, parking, and zoning
are approximate and must be independently confirmed.