1666 Federal Ave 18 Unit Apartment Building $4,995,000 ($277,500/Unit) 4.61% Cap Rate Los Angeles, CA 90025

1666 Federal Avenue is an 18-unit multifamily property located in the prestigious West Los Angeles submarket, offered for sale by the family of the original developer, marking it as a rare generational asset. Built in 1964, this offering presents a compelling investment opportunity due to its size, location, and value-add potential. The unit mix—eight 2-bedroom/2-bathroom units, eight 1-bedroom/1-bathroom units, and two studios—caters to a diverse tenant demographic, including young professionals, students, and small families, ensuring consistent occupancy in a high-demand rental market. The property’s 22 parking spaces (6 tandem and 10 single) are a significant advantage in parking-scarce West LA, enhancing tenant appeal and retention. The property offers tremendous value-add potential through targeted renovations, such as updating kitchens, bathrooms, or common areas, to maximize allowable rent increases and boost property value.
The West LA submarket is characterized by strong rental demand, driven by proximity to employment centers like Century City (1.8 miles away) and UCLA (2.5 miles away). The strong location fundamentals and limited inventory underscore the area’s robust investor interest and appreciating property values. This rare 18-unit asset in a premier location offers investors a unique opportunity for long-term cash flow and appreciation in one of Los Angeles’ most desirable neighborhoods.