Estimated payment $33,112/month
Highlights
- Subterranean Parking
- 4-minute walk to Wilshire/Western Station
- Gated Home
- Charles H. Kim Elementary School Rated A-
- Central Heating and Cooling System
- Wood Siding
About This Home
REDUCED! Potential for 3+ Vacancies at COE. Located just south of 3rd Street, between Western Avenue and Vermont Avenue, and north of 6th Street, 534 S Oxford Avenue offers investors a unique opportunity to acquire a prime piece of real estate in one of Los Angeles' most robust submarkets. Constructed in 1989 on a 8,739 square foot LAR4 lot, 534 S Oxford Avenue is a three-story, 21-unit multifamily property with a total building area of 14,787 square feet. The controlled-access property features an elevator, an on-site laundry facility, 21 gated subterranean parking spaces, and upgraded hallways with fresh paint. The property is separately metered for electricity (studio unit on house meter), the units are not serviced by gas, and there are tankless water heaters. 534 S Oxford Avenue offers a desirable unit mix, comprising one studio/one-bathroom unit and twenty-one-bedroom/one-bathroom units. The units feature laminate or bamboo wood flooring, granite countertops, electric stoves, refrigerators, dishwashers, microwaves, and central air & heat. Select units have been upgraded with quartz countertops, stainless steel appliances (refrigerator, stove, dishwasher, and microwave), modern hardware and fixtures, and recessed lighting. While the current ownership has diligently maintained the property, the current ownership has not been aggressive in increasing rents or implementing full-unit renovations. With current rents approximately 24% below market, a new owner is presented with the opportunity to increase rents to market upon vacancy or further increase rental income with complete unit renovations. The property is subject to California's AB 1482 and is not subject to Los Angeles city rent control. 534 S Oxford Avenue is ideally located near some of Los Angeles' most rapidly developing neighborhoods. It offers convenient access to Koreatown's trendiest shops, restaurants, and entertainment spots along Beverly Boulevard, 3rd Street, Vermont Avenue, Western Avenue, and 6th Street. Additionally, it is just minutes away from iconic destinations such as Dodger Stadium, Echo Park Lake, Silver Lake Reservoir, Griffith Observatory, LA Zoo, Kaiser Permanente Los Angeles Medical Center, Children's Hospital Los Angeles, Los Angeles City College, USC, and various local schools. The property is also a short drive from major employment hubs in Hollywood, Downtown Los Angeles, and Glendale. Given the property's strong real estate fundamentals, which include a strong unit, excellent Koreatown location, and value-add potential, 534 S Oxford Avenue is a solid investment for an investor seeking growth, wealth preservation, and a hedge against inflation.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1989
Lot Details
- 8,739 Sq Ft Lot
- Gated Home
Home Design
- Flat Roof Shape
- Wood Siding
- Stucco
Interior Spaces
- 14,787 Sq Ft Home
- 3-Story Property
Bedrooms and Bathrooms
- 20 Bedrooms
- 21 Bathrooms
Parking
- 21 Parking Spaces
- Subterranean Parking
Utilities
- Central Heating and Cooling System
Community Details
- 21 Units
Listing and Financial Details
- The owner pays for water
- Assessor Parcel Number 5503-020-023
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/28/2025 04/28/25 | Price Changed | $5,250,000 | -2.8% | $355 / Sq Ft |
| 03/04/2025 03/04/25 | For Sale | $5,400,000 | 0.0% | $365 / Sq Ft |
| 03/02/2025 03/02/25 | Off Market | $5,400,000 | -- | -- |
| 02/28/2025 02/28/25 | For Sale | $5,400,000 | -- | $365 / Sq Ft |
Source: The MLS
MLS Number: 25505033
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