2622 South Hobart Boulevard

Los Angeles CA 90018

14308 sq. ft.

13260 sq. ft.

Other

Last sold for $2,030,000

Neema Ahadian, last sold this property on 23 July 2025 after 104 days on market.

Overview

We are pleased to present 2622 S Hobart Blvd, a 16-unit value-add investment opportunity in the rapidly evolving West Adams neighborhood of Los Angeles. Just south of W Adams Blvd, the property is situated minutes from Downtown Los Angeles and Koreatown, with convenient access to the 10 Freeway. The subject property was originally a HUD Project-Based Section 8 property and was opted out of the HUD program in September 2011. The building features a well-balanced unit mix of six one-bedrooms and ten two-bedrooms, along with 16 parking spaces. With current rents significantly below market, the property offers an outstanding opportunity for investors to capitalize on over 88% rental upside. The property is well positioned for a Naturally Occurring Affordable Housing (NOAH) conversion, as 38% of the current tenants are voucher holders, while the remaining units rent for below approximately 80% of the area's median income (AMI). This favorable rent structure enhances the property's long-term stability and appeals to both value-add and mission-driven affordable housing operators. Ideally located less than a mile from the Metro Expo Line and steps from transit stops at W Adams Blvd and S Western Ave, 2622 S Hobart Blvd offers residents excellent connectivity to employment hubs and cultural districts. The property is also within walking distance of local retail, enhancing tenant appeal. Mid-City remains one of Los Angeles' most densely populated and historically significant neighborhoods, with sustained demand for rental housing due to its proximity to major job centers and educational institutions. This investment presents a rare opportunity to acquire a well-located asset with significant value-add potential in one of the city's most dynamic submarkets.

Features

26 bedrooms

16 bathrooms

16 carspaces

14308 sq. ft. floor area

13260 sq. ft. lot size

Other

Estimated Value

We need at least 3 similar 26 bedroom other properties sold in Los Angeles over the last 12 months.

Property history for 2622 South Hobart Boulevard

2025

Sold

$2,030,000

23 Jul 2025 by Neema Ahadian, of Marcus & Millichap

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