1035 W 17th St 12 Unit Apartment Building $1,999,999 ($166,667/Unit) 5.63% Cap Rate Los Angeles, CA 90015

TheWe are pleased to present 1035 W 17th Street, a 12-unit multifamily investment opportunity located in the highly desirable Pico-Union neighborhood, just minutes from Downtown Los Angeles and the LADT employment hub.
This fully occupied (100%) asset offers stable in-place cash flow with a current NOI of $112,593 and a 5.63% cap rate, providing investors with immediate day-one income. The property has been held by the current ownership since 1982, with rents maintained at below-market levels, creating a compelling value-add opportunity.
The asset presents approximately 50%+ rental upside, with current gross income of $166,224 and strong potential to increase to market levels, supporting a projected pro forma cap rate of 8–9%. This allows investors to significantly grow NOI through strategic rent repositioning.
Select capital improvements, including plumbing upgrades and seismic retrofitting, help reduce operational risk and enhance long-term asset stability.
Situated in a high-demand rental corridor, the property benefits from close proximity to Downtown Los Angeles, major transportation routes, and a dense employment base, supporting consistent tenant demand and long-term rental growth.
This offering represents an opportunity to acquire a stabilized, income-producing asset with strong upside potential in one of Los Angeles’ most active rental submarkets.property has undergone improvements including updates to the plumbing system and seismic retrofitting.