Los Angeles Spotlight: Koreatown
Twenty-four-hour restaurants are just the beginning. Koreatown is home to an incredible nightlife, from dive bars and high-end cocktail speakeasies to karaoke clubs and foreign culinary delights. In fact, Koreatown is said to have the highest concentration of restaurants and nightclubs in Southern California.
Residents also enjoy multiple transportation options, including direct access to major Metro subway and bus lines, as well as three district-to-district DASH routes. Koreatown's central location means residents are also close to downtown Los Angeles (3 miles), Hollywood (4 miles), Santa Monica Beach (12 miles) and Los Angeles International Airport (16 miles).
- 2,074 - Number of units currently under construction in the Koreatown area - 900 more than the five-year average
$1,440 - Average asking rent per unit as of January 2017 and 6.5% higher than prior year
$339M - Total sales volume in Koreatown in 2016, resulting in an average per unit sales price of over $172K
4.2% - Overall vacancy rate in Koreatown, comparing favorably with other notable LA submarkets
Average Unit Mixes
- 50% - One Bedroom
36% - Studio
13% - Two Bedroom
1% - Three Bedroom
Average Rent Per Month
- Studio - $987
One Bedroom - $1,152
Two Bedroom - $1,486
Three Bedroom - $1,837
For more information on Koreatown, click HERE to see our full report.