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1633 259th Street 1633 259th St 8 Unit Apartment Building $1,550,000 ($193,750/Unit) 5.77% Cap Rate Harbor City, CA 90710
Investment Highlights
- LARSO-Exempt with 8% Annual Increases
- Covered Parking and On-Site Laundry
- Value-Add Opportunity: Below Market Rents with Significant Upside
- 5.73% Cap Rate on In-Place Rents
Executive Summary
1633 259th Street is a professionally managed 8-unit apartment building under single family ownership since 1977, situated on a 10,002 sf lot in Harbor City's sought-after industrial-residential corridor. The two-story, wood-frame building offers 5,545 square feet of livingspace across six 1-bedroom/1-bath units, one 2-bedroom/1-bath, and one 3-bedroom/1-bath, averaging 693 square feet per unit. Select units have been improved with updated kitchens, renovated bathrooms, and modern flooring. Critically, with a Certificate of Occupancy issued in 1980, the property is exempt from the Los Angeles Rent Stabilization Ordinance allowing incoming ownership to execute rent growth of up to 8% annually under AB 1482.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,550,000 | Property Subtype | Apartment |
| Price Per Unit | $193,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 5.77% | Building Size | 5,545 SF |
| Gross Rent Multiplier | 9.93 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1977 |
| Property Type | Multifamily | Parking Ratio | 2.34/1,000 SF |
| Zoning | LARD1.5 - Restricted Density Multiple Dwelling- One-Family Dwellings, Two-Family Dwellings, Apartment Houses, Multiple Dwellings, Home Occupations | ||
| Price | $1,550,000 |
| Price Per Unit | $193,750 |
| Sale Type | Investment |
| Cap Rate | 5.77% |
| Gross Rent Multiplier | 9.93 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 5,545 SF |
| No. Stories | 2 |
| Year Built | 1977 |
| Parking Ratio | 2.34/1,000 SF |
| Zoning | LARD1.5 - Restricted Density Multiple Dwelling- One-Family Dwellings, Two-Family Dwellings, Apartment Houses, Multiple Dwellings, Home Occupations |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $1,597 | - |
| 2+1 | 1 | $1,890 | - |
| 3+1 | 1 | $1,539 | - |
1 1
Fairly walkable
50/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
40/100
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1633 259th Street | 1633 259th St
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