Luxury Triplex in Prime Mid-City Location | 1649 S Rimpau Blvd
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Luxury Triplex in Prime Mid-City Location 1649 S Rimpau Blvd
3 Unit Apartment Building $2,499,000 ($833,000/Unit) 5.05% Cap Rate Los Angeles, CA 90019
Investment Highlights
- Centrally located on a desirable Mid-City street, close to shopping, dining, and cultural hotspots like Sprouts, Target, Starbucks, and more.
- Features 2,045 square feet, 4 bedrooms, and 4.5 bathrooms in a front single-family home with an open-concept design and high-end finishes.
- Perfect opportunity for owner-occupiers to live in luxury while rental income offsets the mortgage.
- Comparable single-family homes with significantly less space sell for $2- 3M, making this offering exceptional value at $2,499,000.
- Tenants pay all utilities, keeping expenses minimal and offering an outstanding projected cap rate of 5.05%.
- Offers two private garages and three additional exterior parking spaces for ample parking.
Executive Summary
The 2-4 Unit Specialists are excited to present 1649 S Rimpau Blvd, a brand-new luxury triplex in the heart of Mid-City Los Angeles. This stunning, NON RENT-CONTROLLED property offers an exceptional combination of design, functionality, and investment potential, with a pro forma cap rate of 5.05%.
Located on a desirable street near tons of shopping hotspots and convienent eateries, this 2024 construction features a luxurious 2,045 SF single-family residence with 4 bedrooms and 4.5 bathrooms, a massive tri-level townhome with 3 bedrooms and 3.5 bathrooms, and a 2-bedroom, 2-bathroom unit designated as an ADU. The property delivers 4,616 SF of total living space across two meticulously crafted buildings, each showcasing high-end finishes and contemporary design.
The thoughtfully designed floorplans boast open-concept living areas, spacious bedrooms, and gourmet kitchens with modern cabinetry, stainless steel appliances, and designer tiles. High ceilings, large windows, and abundant natural light create an airy, inviting ambiance, while waterproof wood vinyl flooring, oversized closets, and private balconies add an extra layer of luxury. The property also includes 4 exterior parking spaces, private washers/dryers for each unit, and drought-tolerant landscaping, ensuring minimal maintenance requirements.
Tenants pay all utilities, adding to the property’s efficiency. Its premium location guarantees strong tenant demand, making it an ideal long-term investment. With a GRM of 14.88 and a price per square foot of $541.38, this rare offering is perfect for investors seeking steady cash flow or homeowners desiring multi-unit luxury. Don’t miss the chance to own this trophy property—schedule your showing today!
Located on a desirable street near tons of shopping hotspots and convienent eateries, this 2024 construction features a luxurious 2,045 SF single-family residence with 4 bedrooms and 4.5 bathrooms, a massive tri-level townhome with 3 bedrooms and 3.5 bathrooms, and a 2-bedroom, 2-bathroom unit designated as an ADU. The property delivers 4,616 SF of total living space across two meticulously crafted buildings, each showcasing high-end finishes and contemporary design.
The thoughtfully designed floorplans boast open-concept living areas, spacious bedrooms, and gourmet kitchens with modern cabinetry, stainless steel appliances, and designer tiles. High ceilings, large windows, and abundant natural light create an airy, inviting ambiance, while waterproof wood vinyl flooring, oversized closets, and private balconies add an extra layer of luxury. The property also includes 4 exterior parking spaces, private washers/dryers for each unit, and drought-tolerant landscaping, ensuring minimal maintenance requirements.
Tenants pay all utilities, adding to the property’s efficiency. Its premium location guarantees strong tenant demand, making it an ideal long-term investment. With a GRM of 14.88 and a price per square foot of $541.38, this rare offering is perfect for investors seeking steady cash flow or homeowners desiring multi-unit luxury. Don’t miss the chance to own this trophy property—schedule your showing today!
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$168,000
|
$36.40
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$6,720
|
$1.46
|
| Effective Gross Income |
$161,280
|
$34.94
|
| Taxes |
$29,978
|
$6.49
|
| Operating Expenses |
$5,170
|
$1.12
|
| Total Expenses |
$35,148
|
$7.61
|
| Net Operating Income |
$126,132
|
$27.32
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $168,000 |
| Annual Per SF | $36.40 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $6,720 |
| Annual Per SF | $1.46 |
| Effective Gross Income | |
|---|---|
| Annual | $161,280 |
| Annual Per SF | $34.94 |
| Taxes | |
|---|---|
| Annual | $29,978 |
| Annual Per SF | $6.49 |
| Operating Expenses | |
|---|---|
| Annual | $5,170 |
| Annual Per SF | $1.12 |
| Total Expenses | |
|---|---|
| Annual | $35,148 |
| Annual Per SF | $7.61 |
| Net Operating Income | |
|---|---|
| Annual | $126,132 |
| Annual Per SF | $27.32 |
Property Facts
| Price | $2,499,000 | Apartment Style | Low Rise |
| Price Per Unit | $833,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 5.05% | Building Size | 4,616 SF |
| Gross Rent Multiplier | 14.88 | Average Occupancy | 0% |
| No. Units | 3 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2024 |
| Property Subtype | Apartment | Parking Ratio | 0.87/1,000 SF |
| Price | $2,499,000 |
| Price Per Unit | $833,000 |
| Sale Type | Investment |
| Cap Rate | 5.05% |
| Gross Rent Multiplier | 14.88 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.10 AC |
| Building Size | 4,616 SF |
| Average Occupancy | 0% |
| No. Stories | 3 |
| Year Built | 2024 |
| Parking Ratio | 0.87/1,000 SF |
Unit Amenities
- Balcony
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Double Pane Windows
- Handrails
- Instant Hot Water
- Loft Layout
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+4.5 | 1 | $6,200 | 2,045 |
| 2+2 | 2 | $3,100 | 766 |
| 3+3.5 | 3 | $4,700 | 1,805 |
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Walk Score ®
Very Walkable (86)
zoning
| Zoning Code | LARD1.5 |
| LARD1.5 |
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Luxury Triplex in Prime Mid-City Location | 1649 S Rimpau Blvd
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