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1649 S La Brea Ave - 11 Units in the heart of Mid-City 11 Unit Apartment Building Offered at $2,200,000 at a 5.80% Cap Rate Los Angeles, CA 90019
Investment Highlights
- Corner Lot on La Brea and St. Elmo just south of Venice Blvd.
- Seismic Retrofit completed
- Strong in-place rents with additional upside of approximately 20%
- Unit Mix consisting of 3BR, 2BR, 1BR and Bachelor Units
Executive Summary
Value-add multifamily opportunity featuring a classic 1960s asset offered to the market for the first time, providing a rare chance to reposition and enhance long-term value. Offered to market at a 9.8x GRM, this property features approximately 20% upside to market - and will be delivered with Two (2) Vacant Units - 2BR and Bachelor Unit - ready for immediate in-unit refreshes. 1649 S. La Brea is ideally located in the heart of Mid-City Los Angeles, one of the city’s most dynamic rental submarkets, the property benefits from strong tenant demand, central connectivity, and ongoing neighborhood revitalization. A highly diverse unit mix of Bachelor, 1-, 2-, and 3-bedroom units appeals to a broad tenant base, supporting stable occupancy and leasing flexibility. Additionally, the property has completed the LA Seismic Retrofit Ordinance, with a Certificate of Compliance dated January 25, 2024. Contact Listing Agent for Offering Memorandum containing additional information.
Property Facts
| Price | $2,200,000 | Property Type | Multifamily |
| Price Per Unit | $200,000 | Building Size | 6,816 SF |
| Sale Type | Investment | Average Occupancy | 91% |
| Cap Rate | 5.80% | No. Stories | 2 |
| Gross Rent Multiplier | 9.8 | Year Built | 1963 |
| No. Units | 11 | Opportunity Zone |
Yes
|
| Price | $2,200,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 5.80% |
| Gross Rent Multiplier | 9.8 |
| No. Units | 11 |
| Property Type | Multifamily |
| Building Size | 6,816 SF |
| Average Occupancy | 91% |
| No. Stories | 2 |
| Year Built | 1963 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | - |
| 1+1 | 6 | - | - |
| 2+1 | 2 | - | - |
| 3+1.5 | 1 | - | - |
1 1
Moderately walkable
70/100
Very drivable
80/100
Strong public transit
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5067-005-030 | Improvements Assessment | $182,378 |
| Land Assessment | $33,311 | Total Assessment | $215,689 |
Property Taxes
Parcel Number
5067-005-030
Land Assessment
$33,311
Improvements Assessment
$182,378
Total Assessment
$215,689
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1649 S La Brea Ave - 11 Units in the heart of Mid-City
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