Los Angeles Spotlight: Koreatown

Feb 21st, 2017 by John Mullen

Often described as "a city within a city", Koreatown is quintessential Los Angeles, a sprawling melting pot full of hidden delights.

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).

Financial Highlights

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

Rental Highlights

Average Unit Mixes