About The Property

1037 S. Vermont is a ten-unit courtyard-style bungalow complex located in a federal opportunity zone just south of Koreatown. Residing on a spacious 10,857 SF lot zoned LAC2, the property features (10) 1-bdrm. units that offer approx. 100% rental upside compared to renovated units in the area. The property is across the street from a Grubb Properties project spanning a city block, featuring 228 units and 50,000 SF of commercial space (ground-floor leased by Target).


Price $1,340,000

Year Built 1922

City Koreatown

Units 10

Current CAP 4.86%

Price p/ Sq. ft. $166

Price P/ Unit $134,000

Back of property at 1037 Vermont


Located just south of Koreatown, this courtyard-style bungalow complex featured (10) 1-bdrm. units with approx. 100% rental upside. A residential agent, who had an established relationship with the property’s out-of-state beneficiaries, reached out to KST to help the family cash out.

Back of lot at 1037 Vermont


Despite the substantial value-add opportunity, investors felt the price was steep, because the property featured a majority of long-term tenants with low rents. Additionally, this complex had a large amount of deferred maintenance and several SCEP violations that would have been a headache to handle for an inexperienced investor.

Drone photo of 1037 Vermont


With five offers in hand, we toured the property with all qualified buyers, which created a competitive environment and a round of best-and-final offers. Our motivated Sellers, eager to move on, accepted an offer from our Buyer who had the proven experience and resources to realize the property’s full potential. Fast forward 45 days, and the property changed hands for $1,340,000. With interest rates on the rise and market uncertainties looming, our clients couldn’t be happier to get this deal to the finish line.

Speaking for myself and everyone involved, you were absolutely the best broker we could have selected to market our portfolio. You found an incredible buyer and were able to guide us through so many challenges, including a global pandemic, and secured us a price beyond our expectations.

- Seller (60 Units by The Grove)

“I cannot say enough great things about KST. They take care of you, they have the connections needed, and they get the job done! We were amazed at how quickly our sale went through during the COVID pandemic.”

- Seller (4 Units in Beverly Grove)

“It was truly a pleasure working with Kenny. He is professional, honest, hardworking and most importantly did what he said he would. Kenny sold the property at list price in less than 60 days from start to finish.”

- Seller (Beachfront Generational Asset in Playa del Rey)