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1131 Lodi Pl 9 Unit Apartment Building $2,250,000 ($250,000/Unit) 5.84% Cap Rate Los Angeles, CA 90038
Investment Highlights
- Attractive Basis Below Replacement Cost
- Vintage 1927 Character with Repositioning Appeal
- Desirable 9-Unit Mix in a High-Demand Rental Market
- Prime Hollywood Location Near Major Demand Drivers
Executive Summary
Prime Hollywood Character Asset Below Replacement Cost! Offered at $2,250,000, 1131-33 Lodi Pl represents an incredibly compelling acquisition basis at approximately $250,000 per unit and $247.93 per square foot. Built in 1927, this vintage 9-unit property boasts classic architectural character that stands out from generic inventory, providing an excellent repositioning opportunity to blend historic charm with modern upgrades. The building features a highly desirable rental mix of three 1-bedroom/1-bath units and six large 2-bedroom/1-bath units perfectly aligned with current tenant demand. Situated in a prime, high-demand Hollywood location, the property benefits from immediate proximity to major employment hubs, legendary entertainment destinations, premier retail corridors, and vibrant neighborhood amenities. With rising construction costs and limited local development opportunities, this asset offers investors reduced supply risk and strong, long-term rental growth upside.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$212,366
|
$23.40
|
| Other Income |
$3,568
|
$0.39
|
| Vacancy Loss |
$6,371
|
$0.70
|
| Effective Gross Income |
$209,563
|
$23.09
|
| Taxes |
$26,716
|
$2.94
|
| Operating Expenses |
$51,512
|
$5.68
|
| Total Expenses |
$78,228
|
$8.62
|
| Net Operating Income |
$131,335
|
$14.47
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $212,366 |
| Annual Per SF | $23.40 |
| Other Income | |
|---|---|
| Annual | $3,568 |
| Annual Per SF | $0.39 |
| Vacancy Loss | |
|---|---|
| Annual | $6,371 |
| Annual Per SF | $0.70 |
| Effective Gross Income | |
|---|---|
| Annual | $209,563 |
| Annual Per SF | $23.09 |
| Taxes | |
|---|---|
| Annual | $26,716 |
| Annual Per SF | $2.94 |
| Operating Expenses | |
|---|---|
| Annual | $51,512 |
| Annual Per SF | $5.68 |
| Total Expenses | |
|---|---|
| Annual | $78,228 |
| Annual Per SF | $8.62 |
| Net Operating Income | |
|---|---|
| Annual | $131,335 |
| Annual Per SF | $14.47 |
Property Facts
| Price | $2,250,000 | Apartment Style | Low-Rise |
| Price Per Unit | $250,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 5.84% | Building Size | 9,075 SF |
| Gross Rent Multiplier | 10.59 | No. Stories | 3 |
| No. Units | 9 | Year Built | 1927 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | LARD1.5 | ||
| Price | $2,250,000 |
| Price Per Unit | $250,000 |
| Sale Type | Investment |
| Cap Rate | 5.84% |
| Gross Rent Multiplier | 10.59 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 9,075 SF |
| No. Stories | 3 |
| Year Built | 1927 |
| Opportunity Zone |
Yes |
| Zoning | LARD1.5 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $1,733 | - |
| 2+1 | 9 | $2,046 | - |
1 1
Moderately walkable
70/100
Very drivable
80/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5534-007-018 | Total Assessment | $2,749,748 |
| Land Assessment | $1,924,267 | Annual Taxes | $26,716 ($2.94/SF) |
| Improvements Assessment | $825,481 | Tax Year | 2025 |
Property Taxes
Parcel Number
5534-007-018
Land Assessment
$1,924,267
Improvements Assessment
$825,481
Total Assessment
$2,749,748
Annual Taxes
$26,716 ($2.94/SF)
Tax Year
2025
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1131 Lodi Pl
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