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1152 W 88th St 10 Unit Apartment Building $1,950,000 ($195,000/Unit) 9.81% Cap Rate Los Angeles, CA 90044
EXECUTIVE SUMMARY
We are proud to present 1152 W 88th St, a well-located 10-unit multifamily community in Los Angeles, priced attractively at a 9.81% CAP and 7.22 GRM on current rents, with significant upside potential to achieve an 11.15% CAP and 6.54 GRM upon stabilization. Nestled just south of Manchester Ave and west of Vermont Ave, this property offers excellent connectivity with close proximity to the 110 Freeway, multiple Metro stations, and easy access to Downtown Los Angeles, Inglewood, Lennox, and Crenshaw.
The property is comprised of two buildings—a two-story front structure and a single-story rear building—offering a total of 6,438 rentable square feet. Built in 1936, the property sits on a generous 9,659 SF LCR320U-zoned corner lot with valuable alley access. The unit mix features 100% two-bedroom units, with 3 units delivered VACANT at closing, presenting an immediate opportunity for renovation and rent increases. Contact the listing broker for additional information.
The property is comprised of two buildings—a two-story front structure and a single-story rear building—offering a total of 6,438 rentable square feet. Built in 1936, the property sits on a generous 9,659 SF LCR320U-zoned corner lot with valuable alley access. The unit mix features 100% two-bedroom units, with 3 units delivered VACANT at closing, presenting an immediate opportunity for renovation and rent increases. Contact the listing broker for additional information.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$191,316
|
$29.73
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $191,316 |
| Annual Per SF | $29.73 |
PROPERTY FACTS
| Price | $1,950,000 | Building Class | C |
| Price Per Unit | $195,000 | Lot Size | 0.22 AC |
| Sale Type | Investment | Building Size | 6,436 SF |
| Cap Rate | 9.81% | Average Occupancy | 60% |
| Gross Rent Multiplier | 7.22 | No. Stories | 2 |
| No. Units | 10 | Year Built | 1936 |
| Property Type | Multifamily | Parking Ratio | 0.31/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | LCR320U - 9,659 Square Foot LCR320U Zoned Corner Lot with Alley Access. | ||
| Price | $1,950,000 |
| Price Per Unit | $195,000 |
| Sale Type | Investment |
| Cap Rate | 9.81% |
| Gross Rent Multiplier | 7.22 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 6,436 SF |
| Average Occupancy | 60% |
| No. Stories | 2 |
| Year Built | 1936 |
| Parking Ratio | 0.31/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LCR320U - 9,659 Square Foot LCR320U Zoned Corner Lot with Alley Access. |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Refrigerator
- Oven
- Range
- Views
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Picnic Area
- Recycling
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 10 | $2,080 | 750 |
1 1
Walk Score®
Very Walkable (75)
PROPERTY TAXES
| Parcel Number | 6047-009-022 | Improvements Assessment | $412,461 (2025) |
| Land Assessment | $967,152 (2025) | Total Assessment | $1,379,613 (2025) |
PROPERTY TAXES
Parcel Number
6047-009-022
Land Assessment
$967,152 (2025)
Improvements Assessment
$412,461 (2025)
Total Assessment
$1,379,613 (2025)
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1152 W 88th St
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