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1537 Corinth Ave 18 Unit Apartment Building $4,095,000 ($227,500/Unit) 5.43% Cap Rate Los Angeles, CA 90025
INVESTMENT HIGHLIGHTS
- Excellent Westside Location
- 10.5%+ Rental Upside
- 11.42 GRM, 5.43% CURRENT CAP RATE
EXECUTIVE SUMMARY
The Corinth Apartments are a well maintained rent controlled property located in the City of Los Angeles in West Los Angeles. Built with beautiful European architecture this property presents an astute investor a reposition opportunity as there is approximately 10% upside in rents.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$356,935
|
$41.52
|
| Other Income |
$1,571
|
$0.18
|
| Vacancy Loss |
$10,755
|
$1.25
|
| Effective Gross Income |
$347,751
|
$40.45
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$125,399
|
$14.59
|
| Net Operating Income |
$222,352
|
$25.87
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $356,935 |
| Annual Per SF | $41.52 |
| Other Income | |
|---|---|
| Annual | $1,571 |
| Annual Per SF | $0.18 |
| Vacancy Loss | |
|---|---|
| Annual | $10,755 |
| Annual Per SF | $1.25 |
| Effective Gross Income | |
|---|---|
| Annual | $347,751 |
| Annual Per SF | $40.45 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $125,399 |
| Annual Per SF | $14.59 |
| Net Operating Income | |
|---|---|
| Annual | $222,352 |
| Annual Per SF | $25.87 |
PROPERTY FACTS
| Price | $4,095,000 | Apartment Style | Low-Rise |
| Price Per Unit | $227,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 5.43% | Building Size | 8,596 SF |
| Gross Rent Multiplier | 11.42 | Average Occupancy | 100% |
| No. Units | 18 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1913 |
| Property Subtype | Apartment | ||
| Zoning | LAR3 - Residential | ||
| Price | $4,095,000 |
| Price Per Unit | $227,500 |
| Sale Type | Investment |
| Cap Rate | 5.43% |
| Gross Rent Multiplier | 11.42 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 8,596 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1913 |
| Zoning | LAR3 - Residential |
AMENITIES
UNIT AMENITIES
- Hardwood Floors
- Oven
- Range
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 16 | - | - |
| 1+1 | 1 | - | - |
| 2+2 | 1 | - | - |
1 1
Walk Score®
Very Walkable (88)
Bike Score®
Very Bikeable (77)
PROPERTY TAXES
| Parcel Number | 4261-004-009 | Improvements Assessment | $640,583 |
| Land Assessment | $2,049,879 | Total Assessment | $2,690,462 |
PROPERTY TAXES
Parcel Number
4261-004-009
Land Assessment
$2,049,879
Improvements Assessment
$640,583
Total Assessment
$2,690,462
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1537 Corinth Ave
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