Christian Mkpado 8056373623

1951 W Martin Luther King Jr Blvd

8 Unit Apartment Building $2,595,000 ($324,375/Unit) 5.86% Cap Rate Los Angeles, CA 90062

INVESTMENT HIGHLIGHTS

Newly Renovated Units Achieving High Rents
Below Average Expense Profile
Large Parking Lot

Strong Cash Flow from Day 1
Gentrifying Area Allowing for Above Average Appreciation

EXECUTIVE SUMMARY

Located in the Leimert Park neighborhood, the subject property is centrally located offering quick access to premium entertainment such as The LA Memorial Coliseum and The Natural History Museum. The property is located a few miles from USC which provides access to a strong student rental market. The building has a diverse mix of 4 two-bedroom, and four studio units. Seven of the eight units have been completely remodeled with brand new electrical, plumbing, and mechanical. These units are also completely sub-metered for gas, electrical, and water resulting in an extremely low utility expense which is rare in the Los Angeles market. Due to the renovations the expense profile of the property is extremely low, and will allow for strong cash flow immediately.

MLK Jr Blvd

PROPERTY FACTS

Price	$2,595,000
Price Per Unit	$324,375
Sale Type	Investment
Cap Rate	5.86%
No. Units	8
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.20 AC
Building Size	4,762 SF
Average Occupancy	100%
No. Stories	2
Year Built	1923
Parking Ratio	2.1/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

UNIT AMENITIES

Microwave
Refrigerator
Oven

Range
Tub/Shower

SITE AMENITIES

24 Hour Access

UNIT MIX INFORMATION

DESCRIPTION	NO. UNITS	AVG. RENT/MO	SF
Studios	4	-	-
2+1	4	-	-

Walk Score®

Very Walkable (78)

PROPERTY TAXES

Parcel Number	5035-006-011	Improvements Assessment	$334,654
Land Assessment	$892,413	Total Assessment	$1,227,067

ZONING

Zoning Code

RD1.5, Los Angeles

Map of 1951 W Martin Luther King Jr Blvd Los Angeles, CA 90062

ADDITIONAL PHOTOS

Building Photo

Listing ID: 35200455
Date on Market: 3/20/2025
Last Updated: 3/20/2025
Address: 1951 W Martin Luther King Jr Blvd, Los Angeles, CA 90062

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