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Desirable Koreatown Location | 54 Units 130 N Alexandria Ave
54 Unit Apartment Building $11,380,000 ($210,741/Unit) 4.74% Cap Rate Los Angeles, CA 90004
Investment Highlights
- Strong Koreatown Location; Walk Score of 87
- ±36,012 SF Building Size on ±24,008 SF Double Lot
- Well-Amenitized with Controlled Access, Elevator, Two On-Site Laundry Facilities, and Select Units have a Balcony
- All One-Bedroom/One-Bathroom Units
- True Value-Add Opportunity with Current Rent 55% Under Market
- 57 Gated Subterranean Parking with Dual Access Gates
Executive Summary
Since 2020, nearly 1/3 of the units have turned over naturally without any relocation assistance.
The Orleans boasts all one-bedroom/one-bathroom units, and offer laminate wood flooring, electric stoves, dishwashers, radiant heat, and wall units for cooling. Select units offer a private balcony.
PLEASE DO NOT WALK THE PROPERTY OR DISTURB RESIDENTS
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$921,437
|
$25.59
|
| Other Income |
$8,000
|
$0.22
|
| Vacancy Loss |
$27,883
|
$0.77
|
| Effective Gross Income |
$901,554
|
$25.03
|
| Taxes |
$141,094
|
$3.92
|
| Operating Expenses |
$221,228
|
$6.14
|
| Total Expenses |
$362,322
|
$10.06
|
| Net Operating Income |
$539,232
|
$14.97
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $921,437 |
| Annual Per SF | $25.59 |
| Other Income | |
|---|---|
| Annual | $8,000 |
| Annual Per SF | $0.22 |
| Vacancy Loss | |
|---|---|
| Annual | $27,883 |
| Annual Per SF | $0.77 |
| Effective Gross Income | |
|---|---|
| Annual | $901,554 |
| Annual Per SF | $25.03 |
| Taxes | |
|---|---|
| Annual | $141,094 |
| Annual Per SF | $3.92 |
| Operating Expenses | |
|---|---|
| Annual | $221,228 |
| Annual Per SF | $6.14 |
| Total Expenses | |
|---|---|
| Annual | $362,322 |
| Annual Per SF | $10.06 |
| Net Operating Income | |
|---|---|
| Annual | $539,232 |
| Annual Per SF | $14.97 |
Property Facts
| Price | $11,380,000 | Building Class | C |
| Price Per Unit | $210,741 | Lot Size | 0.55 AC |
| Sale Type | Investment | Building Size | 36,012 SF |
| Cap Rate | 4.74% | Average Occupancy | 96% |
| Gross Rent Multiplier | 12.35 | No. Stories | 3 |
| No. Units | 54 | Year Built | 1971 |
| Property Type | Multifamily | Parking Ratio | 0.83/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $11,380,000 |
| Price Per Unit | $210,741 |
| Sale Type | Investment |
| Cap Rate | 4.74% |
| Gross Rent Multiplier | 12.35 |
| No. Units | 54 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.55 AC |
| Building Size | 36,012 SF |
| Average Occupancy | 96% |
| No. Stories | 3 |
| Year Built | 1971 |
| Parking Ratio | 0.83/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Heating
- Vinyl Flooring
Site Amenities
- Controlled Access
- Laundry Facilities
- Gated
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 54 | $1,585 | 625 |
Sustainability
Sustainability
ENERGY STAR® Energy Star is a program run by the U.S. Environmental Protection Agency (EPA) and U.S. Department of Energy (DOE) that promotes energy efficiency and provides simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. Thousands of industrial, commercial, utility, state, and local organizations partner with the EPA to deliver cost-saving energy efficiency solutions that protect the climate while improving air quality and protecting public health. The Energy Star score compares a building’s energy performance to similar buildings nationwide and accounts for differences in operating conditions, regional weather data, and other important considerations. Certification is given on an annual basis, so a building must maintain its high performance to be certified year to year. To be eligible for Energy Star certification, a building must earn a score of 75 or higher on EPA’s 1 – 100 scale, indicating that it performs better than at least 75 percent of similar buildings nationwide. This 1 – 100 Energy Star score is based on the actual, measured energy use of a building and is calculated within EPA’s Energy Star Portfolio Manager tool.
PROPERTY TAXES
| Parcel Number | 5518-012-036 | Total Assessment | $6,742,778 (2024) |
| Land Assessment | $2,690,669 (2024) | Annual Taxes | $141,094 ($3.92/SF) |
| Improvements Assessment | $4,052,109 (2024) | Tax Year | 2023 |
PROPERTY TAXES
zoning
| Zoning Code | R3 (*Buyer to Verify Zoning & Density) |
| R3 (*Buyer to Verify Zoning & Density) |
Presented by
Desirable Koreatown Location | 54 Units | 130 N Alexandria Ave
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