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1181-1185 N Virgil Ave 8 Unit Apartment Building $3,600,000 ($450,000/Unit) 4.94% Cap Rate Los Angeles, CA 90029
INVESTMENT HIGHLIGHTS
- Solar panels
- Corner Property
- Secured Playground Area
- Single tenant stabilized property
EXECUTIVE SUMMARY
Fully Renovated (2012): Modern systems, solar panels, tankless water heaters, AC, plus upgraded amenities including playground and secured parking
Prime LA Location: Between Hollywood, Silver Lake, and Los Feliz, with Metro B Line access at Vermont/Sunset.
Single-Tenant Structure:
Tenant: First Place for Youth — nationally recognized nonprofit serving foster youth (ages 18–24)
Eliminates multi-tenant turnover risk, simplifies management, and stable cash flow
Long-Term Lease:
Through July 2029 with two 1-year extension options
In occupancy since 2019 and in good standing
Maintenance Obligations:
Tenant: Day-to-day repairs for unit interiors, common areas, and adjacent sidewalks/walkways
Landlord: Preventative maintenance and capital improvements
Prime LA Location: Between Hollywood, Silver Lake, and Los Feliz, with Metro B Line access at Vermont/Sunset.
Single-Tenant Structure:
Tenant: First Place for Youth — nationally recognized nonprofit serving foster youth (ages 18–24)
Eliminates multi-tenant turnover risk, simplifies management, and stable cash flow
Long-Term Lease:
Through July 2029 with two 1-year extension options
In occupancy since 2019 and in good standing
Maintenance Obligations:
Tenant: Day-to-day repairs for unit interiors, common areas, and adjacent sidewalks/walkways
Landlord: Preventative maintenance and capital improvements
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$219,390
|
$39.63
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$219,390
|
$39.63
|
| Taxes |
$36,414
|
$6.58
|
| Operating Expenses |
$6,732
|
$1.22
|
| Total Expenses |
$43,146
|
$7.79
|
| Net Operating Income |
$176,244
|
$31.84
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $219,390 |
| Annual Per SF | $39.63 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $219,390 |
| Annual Per SF | $39.63 |
| Taxes | |
|---|---|
| Annual | $36,414 |
| Annual Per SF | $6.58 |
| Operating Expenses | |
|---|---|
| Annual | $6,732 |
| Annual Per SF | $1.22 |
| Total Expenses | |
|---|---|
| Annual | $43,146 |
| Annual Per SF | $7.79 |
| Net Operating Income | |
|---|---|
| Annual | $176,244 |
| Annual Per SF | $31.84 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Washer/Dryer Hookup
- Heating
- Kitchen
- Oven
- Carpet
- Yard
- Double Pane Windows
- Garden
- Lawn
- Patio
SITE AMENITIES
- Courtyard
- Laundry Facilities
- Playground
- Gated
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 2 | - | - |
| 1+1 | 2 | - | - |
| 2+1 | 4 | - | - |
1 1
Walk Score®
Walker's Paradise (93)
Transit Score®
Excellent Transit (70)
Bike Score®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 5542-026-022 | Total Assessment | $2,788,794 (2025) |
| Land Assessment | $1,673,277 (2025) | Annual Taxes | $36,414 ($6.58/SF) |
| Improvements Assessment | $1,115,517 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
5542-026-022
Land Assessment
$1,673,277 (2025)
Improvements Assessment
$1,115,517 (2025)
Total Assessment
$2,788,794 (2025)
Annual Taxes
$36,414 ($6.58/SF)
Tax Year
2024
CONTACTS
-
Mauricio
Nunez
-
Max
Esquivel
-
Rodrigo
Gonzalez
-
Life Connoisseurs Management & Enterprise Tony June
1 of 17
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1181-1185 N Virgil Ave
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