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1059 S Corning St 7 Unit Apartment Building $2,100,000 ($300,000/Unit) 4.43% Cap Rate Los Angeles, CA 90035
Executive Summary
Michael Kamara of Lyon Stahl is pleased to present 1059 S Corning St, a charming 7-unit apartment
building located in the highly desirable Pico-Robertson neighborhood of Los Angeles, California. Built
in 1957, the property consists of (6) one-bedroom + one-bathroom units and (1) two-bedroom + one-
bathroom unit. The building is 5,457 gross square feet and sits on a 6,101 square foot lot.
Nestled in the heart of the Pico-Robertson neighborhood, 1059 S Corning St offers residents a highly
walkable, centrally located Los Angeles lifestyle surrounded by a diverse mix of dining, shopping,
and everyday conveniences. Just minutes from Beverly Hills, Century City, and West Hollywood, the
property provides seamless access to some of LA’s most desirable employment and lifestyle hubs.
With a strong Walk Score, residents enjoy close proximity to neighborhood cafés and popular
restaurants along Pico and Robertson Boulevards, along with quick access to Beverly Center, The
Grove, and major thoroughfares including Olympic and La Cienega.
1059 S Corning St also presents a compelling value-add investment opportunity, offering both an
exceptional location and notable rental upside. The property currently delivers an initial CAP rate of
4.43%, with the potential to reach a 6.46% CAP rate upon unit turnover.
building located in the highly desirable Pico-Robertson neighborhood of Los Angeles, California. Built
in 1957, the property consists of (6) one-bedroom + one-bathroom units and (1) two-bedroom + one-
bathroom unit. The building is 5,457 gross square feet and sits on a 6,101 square foot lot.
Nestled in the heart of the Pico-Robertson neighborhood, 1059 S Corning St offers residents a highly
walkable, centrally located Los Angeles lifestyle surrounded by a diverse mix of dining, shopping,
and everyday conveniences. Just minutes from Beverly Hills, Century City, and West Hollywood, the
property provides seamless access to some of LA’s most desirable employment and lifestyle hubs.
With a strong Walk Score, residents enjoy close proximity to neighborhood cafés and popular
restaurants along Pico and Robertson Boulevards, along with quick access to Beverly Center, The
Grove, and major thoroughfares including Olympic and La Cienega.
1059 S Corning St also presents a compelling value-add investment opportunity, offering both an
exceptional location and notable rental upside. The property currently delivers an initial CAP rate of
4.43%, with the potential to reach a 6.46% CAP rate upon unit turnover.
Property Facts
| Price | $2,100,000 | Apartment Style | Low-Rise |
| Price Per Unit | $300,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 4.43% | Building Size | 5,457 SF |
| Gross Rent Multiplier | 13.72 | No. Stories | 2 |
| No. Units | 7 | Year Built | 1957 |
| Property Type | Multifamily | Parking Ratio | 2.02/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | LAR3 | ||
| Price | $2,100,000 |
| Price Per Unit | $300,000 |
| Sale Type | Investment |
| Cap Rate | 4.43% |
| Gross Rent Multiplier | 13.72 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 5,457 SF |
| No. Stories | 2 |
| Year Built | 1957 |
| Parking Ratio | 2.02/1,000 SF |
| Zoning | LAR3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
| 2+1 | 1 | - | - |
1 1
Very walkable
80/100
Moderately drivable
60/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 4332-025-025 | Improvements Assessment | $129,909 |
| Land Assessment | $106,860 | Total Assessment | $236,769 |
Property Taxes
Parcel Number
4332-025-025
Land Assessment
$106,860
Improvements Assessment
$129,909
Total Assessment
$236,769
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1059 S Corning St