We buy apartment buildings in Koreatown
The Beverly Group is a direct buyer of Koreatown apartment buildings. Four to a hundred-plus units across Koreatown and Wilshire Center, with a written offer in one business day.
What is your building worth?
Get a no-obligation written offer, usually within one day.
The densest apartment market in LA County.
Everything from courtyards to mid-rises.
Koreatown packs more residents into a square mile than anywhere else in Los Angeles County. Twenties courtyard buildings, pre-war mid-rises, sixties and seventies walk-ups, all on the same block. Larger multifamily is ordinary here in a way it is not west of La Brea, and we buy the full range.
Nearly every Koreatown building is RSO.
Almost all Koreatown apartment stock predates 1978 and falls under the Los Angeles Rent Stabilization Ordinance. Most of what we own is rent stabilized, so if you are selling a rent controlled building in Koreatown this is the environment we understand best.
Transit that already exists.
The Purple Line extension gets the headlines, but Wilshire has been served for years. Few LA rental submarkets are genuinely walkable to work. Koreatown is one.
Our criteria, stated plainly.
If your property fits, you will hear from us within one business day. If it does not, we will tell you that just as quickly rather than sitting on it.
Four steps, start to close.
You reach out
Send the address. Nothing is listed and nothing is public.
We underwrite
Koreatown comps are dense enough that we can underwrite tightly, and we do it in-house rather than farming it out.
Written offer
A written offer, with the rent roll and expense assumptions we used spelled out.
Escrow and close
Your escrow and title companies. We handle the file from signature forward.
The building is old and needs work.
Pre-war Koreatown stock usually does. Plumbing, electrical, soft-story retrofit. We price it up front instead of finding it in inspections and coming back at you.
Do you buy the larger Koreatown buildings?
Yes. Koreatown is one of the few LA submarkets where we regularly look at fifty units and up.
Am I obligated if I request a valuation?
No. A lot of Koreatown owners just want to know where they stand before talking to a lender. No follow-up pressure from us.
How long does this normally take?
Three to six weeks for most deals once terms are agreed. Longer if your tax planning calls for it.
Is there a commission?
None from us. We are the buyer, not an agent. If you have representation we submit through your broker.
Find out what your building is worth.
Complimentary, and with no obligation to sell.