1231 W 8th St

.Discover a value-add single-room occupancy (SRO) investment unlike any other at 1231 W 8th Street, located in the Westlake neighborhood of Los Angeles, California. Currently 48% occupied, the community reports substantially diminished cash flow due to entry in the city’s Rent Escrow Account Program (REAP) and ongoing headwinds from the LA Rent Stabilization Ordinance. This allows a new owner to engage a more aggressive management strategy and complete the required remediation (estimated at ±$50,000) to create a profitable investment with additional lease upside. 1231 W 8th Street comprises 22 SRO units across 7,143 square feet originally built in 1907 on a highly visible, 5,507-square-foot corner lot. The units are master-metered and boast high ceilings with great natural lighting, and four units are equipped with private ¾ bathrooms. One unit is currently utilized as the property manager’s office. Shared amenities include four communal bathrooms, a communal kitchen, a centralized mail area, and an on-site laundry room. The units are all rented month-to-month, with two tenants on Section 8 paying abated rent, five paying 50% rent through LA REAP, and two tenants currently refusing to pay. Placed on the corner of Hartford Avenue and 8th Street, 1231 W 8th Street offers terrific brand exposure to more than 25,000 passing vehicles daily. The area offers tenants convenient access to shopping and dining amenities, quality healthcare, major freeways, and the world-class attractions of Downtown Los Angeles. The property provides commuters with quick access to the 10, 110, and 101 Freeways, as well as connections for the Blue and Purple metro lines within walking distance. Residents can also walk to numerous national retail locations, with nearby brands such as The Home Depot, Rite Aid, Dollar Tree, Starbucks, McDonald’s, Jack in the Box, and Jersey Mike’s Subs. Walking under the 110, residents can quickly reach the boutique retail stores, upscale restaurants, and traffic-driving destinations of Downtown Los Angeles, including Crypto.com Arena, LA LIVE, and the LA Convention Center. Operations at 1231 W 8th Street are supported by a growing demographic profile within just 2 miles of the community. More than 325,000 residents call the area home, and 93% of these locals currently rent their homes. This elevated demand resulted in annual spending on household segments exceeding $421 million during 2024, with overall consumer spending surpassing $3 billion. Find limitless potential with this value-add residential community offering operational/lease upsides and an exceptional location at the heart of Los Angeles’s Westlake neighborhood at 1231 W 8th Street.