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100% LEASED 6-UNIT W/ 4 YEARS PROVEN RETURNS 1818 Thurman Ave 6 Unit Apartment Building $4,450,000 ($741,667/Unit) 6.27% Cap Rate Los Angeles, CA 90019
Investment Highlights
- Fully stabilized 2021 six-unit delivering a TRUE 6.27% cap rate and 11.55 GRM
- All 4-bedroom, 4-bath units averaging 1,696 SF with two-car garages, private entries, and in-unit laundry
- Low expenses: only $90,711 annually— efficient and easy to operate
- 100% occupied with tenants in place since original 2021 lease-up — proven income, low loss-to-lease
- $32,095 monthly income ($385,140 annual) with strong tenant retention and no rent control exposure
- Turnkey investment: drought-tolerant landscaping, separate utilities, and builder’s warranty for low maintenance
Executive Summary
The 5+ Unit Specialists are pleased to present 1818 Thurman Ave, a fully stabilized 2021-built six-unit delivering a real 6.27% cap rate and four full years of proven income. In a market flooded with new builds still chasing tenants, this one’s already performing.
Each of the six residences are large 4 bed, 4 bath units with private entry, in unit laundry, separate utilities, and 2 car private garage parking. Two of the units also benefit from three additional outdoor parking spaces, bringing their total parking to five spaces, allowing for even higher rents. Current rents range from $4,795 to $5,900, making this a plug and play investment for 1031 buyers seeking strong day one income. Built for longevity, the property features drought tolerant landscaping and a builder’s warranty, helping keep expenses low and operations smooth.
Just minutes from Downtown Culver City’s creative corridor and hot spots like Father’s Office, Etta, and Margot, the location attracts long term professionals working at Amazon Studios, Apple, HBO, Sony & more. With almost no stabilized new construction available and demand at an all-time high, 1818 Thurman is that rare, proven performer every investor wants but few can actually find.
Each of the six residences are large 4 bed, 4 bath units with private entry, in unit laundry, separate utilities, and 2 car private garage parking. Two of the units also benefit from three additional outdoor parking spaces, bringing their total parking to five spaces, allowing for even higher rents. Current rents range from $4,795 to $5,900, making this a plug and play investment for 1031 buyers seeking strong day one income. Built for longevity, the property features drought tolerant landscaping and a builder’s warranty, helping keep expenses low and operations smooth.
Just minutes from Downtown Culver City’s creative corridor and hot spots like Father’s Office, Etta, and Margot, the location attracts long term professionals working at Amazon Studios, Apple, HBO, Sony & more. With almost no stabilized new construction available and demand at an all-time high, 1818 Thurman is that rare, proven performer every investor wants but few can actually find.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$367,200
|
$36.08
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$15,406
|
$1.51
|
| Effective Gross Income |
$351,794
|
$34.56
|
| Taxes |
$52,839
|
$5.19
|
| Operating Expenses |
$37,872
|
$3.72
|
| Total Expenses |
$90,711
|
$8.91
|
| Net Operating Income |
$261,083
|
$25.65
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $367,200 |
| Annual Per SF | $36.08 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $15,406 |
| Annual Per SF | $1.51 |
| Effective Gross Income | |
|---|---|
| Annual | $351,794 |
| Annual Per SF | $34.56 |
| Taxes | |
|---|---|
| Annual | $52,839 |
| Annual Per SF | $5.19 |
| Operating Expenses | |
|---|---|
| Annual | $37,872 |
| Annual Per SF | $3.72 |
| Total Expenses | |
|---|---|
| Annual | $90,711 |
| Annual Per SF | $8.91 |
| Net Operating Income | |
|---|---|
| Annual | $261,083 |
| Annual Per SF | $25.65 |
Property Facts
| Price | $4,450,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $741,667 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.25 AC |
| Cap Rate | 6.27% | Building Size | 10,178 SF |
| Gross Rent Multiplier | 11.55 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2021 |
| Property Subtype | Apartment | Parking Ratio | 1.18/1,000 SF |
| Zoning | LAR1 | ||
| Price | $4,450,000 |
| Price Per Unit | $741,667 |
| Sale Type | Investment |
| Cap Rate | 6.27% |
| Gross Rent Multiplier | 11.55 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.25 AC |
| Building Size | 10,178 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2021 |
| Parking Ratio | 1.18/1,000 SF |
| Zoning | LAR1 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Walk-In Closets
- Freezer
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+4.5 | 1 | $5,100 | 1,560 |
| 4+4.5 | 1 | $4,795 | 1,624 |
| 4+4.5 | 1 | $5,200 | 1,738 |
| 4+4.5 | 1 | $5,900 | 1,738 |
| 4+4 | 1 | $5,300 | 1,753 |
| 3+3 | 1 | $5,800 | 1,765 |
1 1
Very walkable
80/100
Very drivable
80/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 5064-021-042 | Total Assessment | $5,093,798 |
| Land Assessment | $2,971,382 | Annual Taxes | $52,839 ($5.19/SF) |
| Improvements Assessment | $2,122,416 | Tax Year | 2025 |
Property Taxes
Parcel Number
5064-021-042
Land Assessment
$2,971,382
Improvements Assessment
$2,122,416
Total Assessment
$5,093,798
Annual Taxes
$52,839 ($5.19/SF)
Tax Year
2025
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100% LEASED 6-UNIT W/ 4 YEARS PROVEN RETURNS | 1818 Thurman Ave
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