1646 N Harvard Blvd 10 Unit Apartment Building $2,400,000 ($240,000/Unit) 5.52% Cap Rate Los Angeles, CA 90027

1646 N Harvard Blvd presents the opportunity to acquire a 10-unit apartment community in the heart of Thai Town, one of Los Angeles’ most vibrant and supply-constrained rental markets. Situated on an 8,490 SF lot between Hollywood, Los Feliz, and Silver Lake, the property offers tenants walkable access to renowned restaurants, nightlife, shopping, and major employment centers including Kaiser Permanente, Children’s Hospital Los Angeles, Netflix, and Paramount Studios.
The property consists of ten 1-bedroom/1-bathroom units totaling approximately 6,766 square feet and offers a compelling value-add opportunity through both rental repositioning and potential future development. Current rents remain significantly below market, providing investors with the ability to increase income through unit turnover and strategic renovations. Based on projected market rents, ownership estimates annual gross income could increase by more than $125,000, creating substantial NOI growth and value appreciation.
Additionally, the oversized lot and existing parking configuration may support the development of two ADUs, including a 1-bedroom and a 2-bedroom unit, generating an estimated additional $61,000+ in annual gross rental income at market rents. Buyer to independently verify all zoning, development standards, and ADU feasibility.
With strong in-place cash flow, significant rental upside, potential ADU expansion, and an irreplaceable location in the center of Thai Town, 1646 N Harvard Blvd offers investors the rare opportunity to acquire a value-add asset in one of Los Angeles’ most sought-after rental submarkets.