1037 S Vermont Ave is a ten-unit Pico-Union multifamily investment opportunity located in a Federal Opportunity Zone just south of Koreatown. This charming courtyard-style bungalow complex sits on a 10,857 SF lot zoned LAC2 and offers a rare mix of current stability and long-term value-add potential. The property features (10) one-bedroom units, each with their own front entry, offering both architectural charm and tenant privacy.

At the list price, 1037 S Vermont Ave is being offered at just $175,000 per unit and $217 per foot. With rents significantly below market, the property presents approximately 100% rental upside compared to renovated 1-bedroom units in the neighborhood. Once stabilized, the asset is projected to operate at a 10.11% CAP and 7.29 GRM—an extremely attractive return profile for this central location.

The site also benefits from being directly across the street from a major Grubb Properties development, which will bring 228 new residential units and 50,000 square feet of commercial space to the area, including a ground-floor Target. This new construction is expected to drive additional foot traffic and demand for housing in the surrounding blocks, enhancing the long-term value of this acquisition.

Located in a high-demand rental corridor near major thoroughfares, public transportation, and cultural landmarks, 1037 S Vermont Ave is ideally positioned for both organic and strategic growth. Investors can take advantage of its Opportunity Zone designation for potential federal capital gains tax benefits (buyer to verify) while executing a renovation plan to reposition the asset. This offering is also available as part of a two-property portfolio with nearby 1144 Elden Ave, a twelve-unit property not subject to LA rent control.

With strong in-place fundamentals, massive upside, and a location at the gateway to Koreatown, 1037 S Vermont Ave is a compelling option for multifamily investors seeking returns and future growth in the heart of Central Los Angeles.