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1166 W 39th Pl 2 Unit Apartment Building $969,000 ($484,500/Unit) 7.39% Cap Rate Los Angeles, CA 90037

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Investment Highlights

High demand rental area
LARD 1.5 zoning provides the ability for redevelopment or value add
Possibility of FHA financing

Two detached buildings on one lot
Located just minutes from USC
Possibility of transitional housing

Executive Summary

Located just minutes from USC, this property presents a rare opportunity for both investors and owner-users. Nestled in the heart of a rapidly appreciating area, this property offers unbeatable proximity to USC, the Natural History Museum, the highly anticipated Lucas Museum, BMO Stadium, the LA Coliseum, and a host of other cultural and entertainment landmarks. Property boasts two separate homes on the lot. Front house is a 6drm 2ba house with a bonus room, rear house is a 1bdrm 1ba. Property also has a LARD 1.5 zoning providing the ability for redevelopment or value add. A spacious front house and a detached rear unit provide flexibility for student housing, multi-generational living, or rental income. Whether you're looking to renovate and hold, occupy and rent, or develop and scale, this property checks all the boxes for a strategic real estate play in one of LA's most dynamic neighborhoods.

Financial Summary (Pro Forma - 2025)	Annual	Annual Per SF
Gross Rental Income	$110,400	$40.96
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$110,400	$40.96
Taxes	$5,968	$2.21
Operating Expenses	$32,771	$12.16
Total Expenses	$38,739	$14.37
Net Operating Income	$71,661	$26.59

Financial Summary (Pro Forma - 2025)

Gross Rental Income
Annual	$110,400
Annual Per SF	$40.96

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	$110,400
Annual Per SF	$40.96

Taxes
Annual	$5,968
Annual Per SF	$2.21

Operating Expenses
Annual	$32,771
Annual Per SF	$12.16

Total Expenses
Annual	$38,739
Annual Per SF	$14.37

Net Operating Income
Annual	$71,661
Annual Per SF	$26.59

Property Facts

Price	$969,000	Building Class	C
Price Per Unit	$484,500	Lot Size	0.16 AC
Sale Type	Investment	Building Size	2,695 SF
Cap Rate	7.39%	Average Occupancy	50%
Gross Rent Multiplier	9.5	No. Stories	2
No. Units	2	Year Built	1915
Property Type	Multifamily	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Subtype	Apartment
Zoning	LARD 1.5 - Restricted Density Multiple Dwelling

Price	$969,000
Price Per Unit	$484,500
Sale Type	Investment
Cap Rate	7.39%
Gross Rent Multiplier	9.5
No. Units	2
Property Type	Multifamily
Property Subtype	Apartment
Building Class	C
Lot Size	0.16 AC
Building Size	2,695 SF
Average Occupancy	50%
No. Stories	2
Year Built	1915
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	LARD 1.5 - Restricted Density Multiple Dwelling