Part of 34 unit portfolio on same block! | 6812 11th Ave
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Part of 34 unit portfolio on same block! 6812 11th Ave
26 Unit Apartment Building $6,595,000 ($253,654/Unit) 6.04% Cap Rate Los Angeles, CA 90043
INVESTMENT HIGHLIGHTS
- Very clean
- Well-managed and "easy" to run
- Massive lot - build a 1/2 dozen ADUs (BTV)
- Very steady
- Only minutes to SoFi, The Forum and Intuit Dome
EXECUTIVE SUMMARY
An attractive 26 units - almost all are rehabbed. Newer windows and railings. Seismic completed. Diverse unit mix. Strong on-site and off-site management. Separately-metered and RUBS program. 'Leaner' annual expenses and less-likely to come out-of-pocket for cap ex, versus competing deals. Can likely add several ADUs, maybe as many as a half dozen!
6% CAP CURRENT
9.11% CAP PROFORMA
24K SQ. FT. RENTABLE
MASSIVE 20K SQ. FT. LOT - ADD 5 OR 6 ADUs
EXCLUSIVELY LISTED AT $6,595,000
PRICE RECENTLY REDUCED
SOLD ALONG WITH 8 UNITS AT 6821 11TH ACROSS THE STREET - BUILDNGS CAN BE SOLD SEPARATELY.
6% CAP CURRENT
9.11% CAP PROFORMA
24K SQ. FT. RENTABLE
MASSIVE 20K SQ. FT. LOT - ADD 5 OR 6 ADUs
EXCLUSIVELY LISTED AT $6,595,000
PRICE RECENTLY REDUCED
SOLD ALONG WITH 8 UNITS AT 6821 11TH ACROSS THE STREET - BUILDNGS CAN BE SOLD SEPARATELY.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$833,400
|
$34.91
|
| Other Income |
$16,908
|
$0.71
|
| Vacancy Loss |
$25,509
|
$1.07
|
| Effective Gross Income |
$824,799
|
$34.55
|
| Taxes |
$79,074
|
$3.31
|
| Operating Expenses |
$144,851
|
$6.07
|
| Total Expenses |
$223,925
|
$9.38
|
| Net Operating Income |
$600,874
|
$25.17
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $833,400 |
| Annual Per SF | $34.91 |
| Other Income | |
|---|---|
| Annual | $16,908 |
| Annual Per SF | $0.71 |
| Vacancy Loss | |
|---|---|
| Annual | $25,509 |
| Annual Per SF | $1.07 |
| Effective Gross Income | |
|---|---|
| Annual | $824,799 |
| Annual Per SF | $34.55 |
| Taxes | |
|---|---|
| Annual | $79,074 |
| Annual Per SF | $3.31 |
| Operating Expenses | |
|---|---|
| Annual | $144,851 |
| Annual Per SF | $6.07 |
| Total Expenses | |
|---|---|
| Annual | $223,925 |
| Annual Per SF | $9.38 |
| Net Operating Income | |
|---|---|
| Annual | $600,874 |
| Annual Per SF | $25.17 |
PROPERTY FACTS
| Price | $6,595,000 | Apartment Style | Mid Rise |
| Price Per Unit | $253,654 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.47 AC |
| Cap Rate | 6.04% | Building Size | 23,874 SF |
| Sale Condition | Bulk/Portfolio Sale | Average Occupancy | 92% |
| Gross Rent Multiplier | 10.88 | No. Stories | 3 |
| No. Units | 26 | Year Built | 1964 |
| Property Type | Multifamily | Parking Ratio | 1.09/1,000 SF |
| Property Subtype | Apartment |
| Price | $6,595,000 |
| Price Per Unit | $253,654 |
| Sale Type | Investment |
| Cap Rate | 6.04% |
| Sale Condition | Bulk/Portfolio Sale |
| Gross Rent Multiplier | 10.88 |
| No. Units | 26 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.47 AC |
| Building Size | 23,874 SF |
| Average Occupancy | 92% |
| No. Stories | 3 |
| Year Built | 1964 |
| Parking Ratio | 1.09/1,000 SF |
UNIT AMENITIES
- Cable Ready
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
SITE AMENITIES
- Fenced Lot
- Laundry Facilities
- Gated
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | - | 600 |
| 2+1 | 8 | - | 750 |
| 2+1.5 | 11 | - | 850 |
| 2+2 | 1 | - | 1,000 |
| 3+2 | 3 | - | 1,400 |
| 4+2 | 2 | - | 1,450 |
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Walk Score®
Very Walkable (77)
PROPERTY TAXES
| Parcel Number | 4006-026-041 | Total Assessment | $4,222,967 (2024) |
| Land Assessment | $2,356,567 (2024) | Annual Taxes | $79,074 ($3.31/SF) |
| Improvements Assessment | $1,866,400 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
4006-026-041
Land Assessment
$2,356,567 (2024)
Improvements Assessment
$1,866,400 (2024)
Total Assessment
$4,222,967 (2024)
Annual Taxes
$79,074 ($3.31/SF)
Tax Year
2025
ZONING
| Zoning Code | R3 (R3) |
| R3 (R3) |
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Part of 34 unit portfolio on same block! | 6812 11th Ave
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