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1651 W 11th Pl 4 Unit Apartment Building $895,000 ($223,750/Unit) 5.76% Cap Rate Los Angeles, CA 90015
Investment Highlights
- A 4-Unit Value-Add Opportunity Just Outside of Downtown LA
- Over 1,200 Square Feet One-Bedroom Units
- ADU Development Potential in the Back of the Lot
- All One-Bedroom Units with Living Room, Dining Room, and Laundry Area
- $182 Price Per Square Foot at the Asking Price
- Separately Metered for Gas and Electric
Executive Summary
1651 W 11th Place presents a prime opportunity to acquire a value-add four-unit apartment property strategically located near Downtown Los Angeles. The building offers a total of approximately 4,904 square feet on a 6,129-square-foot lot and consists of four spacious 1-bedroom, 1-bathroom units, each averaging around 1,200 square feet with individual living and dining rooms, in-unit laundry, and full kitchens.
Two units have been extensively remodeled to achieve premium rents, while two additional units provide upside through renovations. The property is separately metered for gas and electricity, reducing operational overhead. Investors will appreciate the potential for ADU development at the rear of the lot, which can increase future cash flow and property value.
Situated in a high-demand area with excellent access to major employment centers, public transportation, and attractions such as LA LIVE and the Crypto.com Arena, this property stands out as a strong long-term investment with both immediate income and redevelopment potential.
Two units have been extensively remodeled to achieve premium rents, while two additional units provide upside through renovations. The property is separately metered for gas and electricity, reducing operational overhead. Investors will appreciate the potential for ADU development at the rear of the lot, which can increase future cash flow and property value.
Situated in a high-demand area with excellent access to major employment centers, public transportation, and attractions such as LA LIVE and the Crypto.com Arena, this property stands out as a strong long-term investment with both immediate income and redevelopment potential.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$79,920
|
$16.30
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,398
|
$0.49
|
| Effective Gross Income |
$77,522
|
$15.81
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$26,002
|
$5.30
|
| Net Operating Income |
$51,520
|
$10.51
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $79,920 |
| Annual Per SF | $16.30 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $2,398 |
| Annual Per SF | $0.49 |
| Effective Gross Income | |
|---|---|
| Annual | $77,522 |
| Annual Per SF | $15.81 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $26,002 |
| Annual Per SF | $5.30 |
| Net Operating Income | |
|---|---|
| Annual | $51,520 |
| Annual Per SF | $10.51 |
Property Facts
| Price | $895,000 | Apartment Style | Low-Rise |
| Price Per Unit | $223,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 5.76% | Building Size | 4,904 SF |
| Gross Rent Multiplier | 11.2 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1911 |
| Property Subtype | Apartment | ||
| Zoning | R4-2, Los Angeles - Restricted Density Multiple Dwelling | ||
| Price | $895,000 |
| Price Per Unit | $223,750 |
| Sale Type | Investment |
| Cap Rate | 5.76% |
| Gross Rent Multiplier | 11.2 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 4,904 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1911 |
| Zoning | R4-2, Los Angeles - Restricted Density Multiple Dwelling |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 1,200 |
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5137-019-020 | Improvements Assessment | $137,957 |
| Land Assessment | $817,130 | Total Assessment | $955,087 |
Property Taxes
Parcel Number
5137-019-020
Land Assessment
$817,130
Improvements Assessment
$137,957
Total Assessment
$955,087
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