Upgrade Your Koreatown Rental Property And Increase Your ROI!

Upgrade Your Koreatown Rental Property And Increase Your ROI!

The quaint community of Koreatown in California has been catching the eye of many outsiders. The city has grown to become a business hub as it consists of many multi-national companies nearby. The many bars and casual 24/7 dining in this culturally diverse, 3-square-mile neighborhood make it a popular vacation spot and tourist attraction. Many of these businesses are owned by Koreans who migrated to America years ago, looking for better economic opportunities. This community is continuously growing into a thriving epicenter of Korean-American culture.

As a Koreatown property owner, taking advantage of this popularity by upgrading your property for better rental income is almost a given! Doing some renovation or construction will surely increase your property’s value.

Here are some of the recommended ways in which you should consider upgrading your property in Koreatown:

1. Repairs and Cleaning

Shampooing carpets, refacing cabinets, and repairing loose doorknobs, light fixtures, and leaky pipes can help make a good impression on potential tenants.

2. New Windows and Doors

Changing your old windows and doors and replacing them with new ones, perhaps with a modern look, will immensely enhance your property’s aesthetics.

3. Remodeling Kitchen and Bathrooms

People spend most of their time in the kitchen, making it an essential room in an apartment or home. As for a bathroom, who doesn’t like a clean and elegant-looking space in their home? Installing modern appliances, painting cabinets, installing stylish fixtures and faucets, changing the flooring in the kitchen and the bathroom are some of the ways to add significant value to your property.

4. Furnished Property

A sure way to add rental value to your property is by furnishing it. Koreatown has become a hotspot for residents as well as tourists, and furnished properties are not only convenient for short-term rentals but long-term as well.

5. Amenities

Make your property irresistible to tenants! A gym, swimming pool, business center, and parking lot are amenities sure to capture your tenants’ interest. Using technology like smart temperature control or online maintenance request platforms is also a bonus.

As a property owner in Koreatown, upgrading your property through renovation or construction is sure to increase your property’s rental value.

If you’re looking for a reputable construction company in Koreatown, CA to upgrade your property, get in touch with Streamline Builders, Inc. We have worked with several industry-leading real estate companies including, Douglas Emmett and the Irvine Company, to offer well-furnished and well-designed homes to tenants. Our team provides our clients the highest quality renovations (multifamily renovations, senior living renovations, etc.), value-engineering, and management of the complete project from start to finish. Reach out to us for a free consultation!