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1166 W 39th Pl 2 Unit Apartment Building $1,049,000 ($524,500/Unit) 6.83% Cap Rate Los Angeles, CA 90037
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 | $1,049,000 | Building Class | C |
| Price Per Unit | $524,500 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 2,695 SF |
| Cap Rate | 6.83% | Average Occupancy | 50% |
| Gross Rent Multiplier | 9.5 | No. Stories | 2 |
| No. Units | 2 | Year Built | 1915 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | LARD 1.5 - Restricted Density Multiple Dwelling | ||
| Price | $1,049,000 |
| Price Per Unit | $524,500 |
| Sale Type | Investment |
| Cap Rate | 6.83% |
| 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 |
| Zoning | LARD 1.5 - Restricted Density Multiple Dwelling |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Carpet
- Deck
- Dining Room
- Pantry
- Porch
SITE AMENITIES
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | $1,563 | - |
| 6+2 | 1 | $6,950 | - |
1 1
Walk Score®
Very Walkable (73)
Bike Score®
Very Bikeable (70)
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1166 W 39th Pl
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