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Reduced! 13 Units 5.75% Cap w/ Upside to 8.8% 1045 N Ardmore Ave 13 Unit Apartment Building $3,550,000 ($273,077/Unit) 5.75% Cap Rate Los Angeles, CA 90029
INVESTMENT HIGHLIGHTS
- Price Reduction! Renovated 13-Unit Building Cash Flowing at a 5.75% Cap Rate from Day 1 with 40% Upside to an 8.8% Cap on Proforma!
- Attractively Priced at $329/SF and $273k/Door in Prime East Hollywood Location Minutes from Silver Lake, Griffith Park, Etc.
- Large Unit Mix of 3 (2 Bed/2 Bath) Units, 9 (1 Bed/1 Bath) Units, and 1 (Studio/1 Bath) Unit Including 2 Brand-New ADUs
EXECUTIVE SUMMARY
3rd Price Reduction! Renovated 13-unit building cash flowing at an amazing 5.75% Cap Rate from day 1 with 40% upside to an 8.8% Cap on Proforma! Attractively priced at only $329/SF and $273k/door with a large unit mix consisting of 3 (2bed/2bath) units, 9 spacious (1bed/1bath) units, and 1 (studio/1bath) unit. Majority of the units (7) have been renovated including 2 brand-new attached ADUs. Amenities include gated entry, communal laundry room, large balconies, large patios, as well as 9 parking spaces (4 of which have not been officially assigned and may be rented for additional income). Many units boast updated cabinets, flooring, lighting, bathrooms, and significant exterior improvements including soft-story retrofit. Prime East Hollywood location just minutes away from the Vermont/Santa Monica Metro station, Silverlake, Hollywood, West Hollywood as well as many hip neighborhood attractions, restaurants, bars, and shops such as Hollywood Walk of Fame, Griffith Observatory, Cara Hotel, Saffy's Restaurant, Courage Bagels, and many more.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $3,550,000 | Apartment Style | Low-Rise |
| Price Per Unit | $273,077 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 5.75% | Building Size | 10,780 SF |
| Gross Rent Multiplier | 12.12 | Average Occupancy | 100% |
| No. Units | 13 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | ||
| Zoning | LAR3 - LAR3 | ||
| Price | $3,550,000 |
| Price Per Unit | $273,077 |
| Sale Type | Investment |
| Cap Rate | 5.75% |
| Gross Rent Multiplier | 12.12 |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 10,780 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1963 |
| Zoning | LAR3 - LAR3 |
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Gated
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 9 | - | - |
| 2+2 | 3 | - | - |
1 1
Walk Score®
Walker's Paradise (93)
Bike Score®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 5537-019-028 | Improvements Assessment | $1,047,780 (2025) |
| Land Assessment | $1,407,161 (2025) | Total Assessment | $2,454,941 (2025) |
PROPERTY TAXES
Parcel Number
5537-019-028
Land Assessment
$1,407,161 (2025)
Improvements Assessment
$1,047,780 (2025)
Total Assessment
$2,454,941 (2025)
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Reduced! 13 Units 5.75% Cap w/ Upside to 8.8% | 1045 N Ardmore Ave
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