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6 Large Units Averaging Over 1,050 SF Each 1419-1421 1/2 W 11th St 6 Unit Apartment Building $1,855,000 ($309,167/Unit) 6.10% Cap Rate Los Angeles, CA 90015
Investment Highlights
- Located 4 blocks from Crypto.com Arena, L.A. Live, Peacock Theater, and the heart of Downtown LA’s entertainment district
- Strong in-place cash flow — current NOI of approximately $112,191 on estimated expenses; 6.1% going-in cap rate at $1,855,000
- New roof and extensive unit interior upgrades in 2025
- Exceptionally large units — current rent roll reflects 2BR, 4BR, and 5BR configurations — well above submarket average unit sizes
- Meaningful rent-to-market upside — current rents estimated approximately 23% below market on a gross income basis
- Turnkey investment — long-term stable tenancy
Executive Summary
Darin Spillman at Kidder Mathews is pleased to present for sale 1419 W. 11th Street, a 6-unit multifamily investment property situated in the Pico-Union neighborhood of Los Angeles, just four blocks from Crypto.com Arena, L.A. Live, and Peacock Theater, in the heart of Downtown L.A.'s sports and entertainment district.
The property is a 1913-built wood-frame building comprising 6,310 rentable square feet on a 6,404 SF lot zoned C1-1, with three separate structures on-site. The property offers investors a rare combination of immediate yield and long-term appreciation potential in one of Los Angeles’ most supply-constrained rental submarkets.
The unit mix consists of two 2-bedroom/1-bath units and four larger units including three 4-bedroom/1-bath and one 5-bedroom/1bath configuration, yielding exceptionally large average unit sizes relative to the neighborhood and strong in-place rental income. Current rents total $15,644 per month ($187,728 annualized), with market rents estimated at $20,200 per month ($242,400 annualized), reflecting meaningful embedded upside.
The property just underwent extensive renovations to the units as well as a new roof in 2025.
The property is a 1913-built wood-frame building comprising 6,310 rentable square feet on a 6,404 SF lot zoned C1-1, with three separate structures on-site. The property offers investors a rare combination of immediate yield and long-term appreciation potential in one of Los Angeles’ most supply-constrained rental submarkets.
The unit mix consists of two 2-bedroom/1-bath units and four larger units including three 4-bedroom/1-bath and one 5-bedroom/1bath configuration, yielding exceptionally large average unit sizes relative to the neighborhood and strong in-place rental income. Current rents total $15,644 per month ($187,728 annualized), with market rents estimated at $20,200 per month ($242,400 annualized), reflecting meaningful embedded upside.
The property just underwent extensive renovations to the units as well as a new roof in 2025.
Property Facts
| Price | $1,855,000 | Property Subtype | Apartment |
| Price Per Unit | $309,167 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.10% | Lot Size | 0.15 AC |
| Gross Rent Multiplier | 9.88 | Building Size | 6,355 SF |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1913 |
| Zoning | LAC1 | ||
| Price | $1,855,000 |
| Price Per Unit | $309,167 |
| Sale Type | Investment |
| Cap Rate | 6.10% |
| Gross Rent Multiplier | 9.88 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 6,355 SF |
| No. Stories | 2 |
| Year Built | 1913 |
| Zoning | LAC1 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | - | - |
| 4+1 | 3 | - | - |
| 5+1 | 1 | - | - |
1 1
Very walkable
80/100
Very drivable
80/100
Exceptional public transit
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5137-012-007 | Improvements Assessment | $547,385 |
| Land Assessment | $568,711 | Total Assessment | $1,116,096 |
Property Taxes
Parcel Number
5137-012-007
Land Assessment
$568,711
Improvements Assessment
$547,385
Total Assessment
$1,116,096
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6 Large Units Averaging Over 1,050 SF Each | 1419-1421 1/2 W 11th St
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