822 New Depot St, Los Angeles, CA 90012

Property Description

822 New Depot Street, a 22-unit apartment building located in the Chinatown neighborhood of Los Angeles, available for sale for the first time since it was built. Constructed in 1983, the property falls outside the reach of the City's Rent Stabilization Ordinance (RSO), a distinction that is exceedingly difficult to find at this scale in the Los Angeles multifamily market. The property encompasses approximately 22,021 square feet of building area on a LAR4 zoned lot and features a unit mix of (1) 1BD/1BA, (19) 2BD/1BA, (1) 3BD/2BA penthouse and (1) 3BD/2.5BA penthouse. Three units, including the owner's penthouse, will be delivered vacant at close of escrow, providing new ownership immediate access to lease at market rate. Penthouse Unit A includes a private 1,000 SF rooftop deck and patio with access to its own washer/dryer room, while both penthouse units feature HVAC and Sub-Zero appliances, distinguishing the property's top-tier residences from typical Chinatown product. Ownership has also completed a full roof reseal in 2023. The property offers residents a semi-subterranean parking garage serving all units, along with an elevator running from the garage level to the penthouse floor. Coin-operated laundry machines provide approximately $500 per month in supplemental income. Ideally situated in the vibrant Chinatown submarket, 822 New Depot Street benefits from close proximity to Downtown Los Angeles, Dodger Stadium, Echo Park, Silver Lake, and access to both the 110 and 101, supporting strong and consistent rental demand