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6 Units | 7.84 GRM & 7.64% CAP Rate 1901 W Florence Ave 6 Unit Apartment Building $1,025,000 ($170,833/Unit) 7.64% Cap Rate Los Angeles, CA 90047
EXECUTIVE SUMMARY
We are proud to present 1901 W Florence Ave, a well-priced 6-unit multifamily property in Los Angeles, offered at a 7.84 GRM and a 7.64% CAP on actual rents, with upside potential to achieve a 7.30 GRM and an 8.53% CAP with market rents. The property is comprised of one, two-story building consisting of a total of 3,012 rentable square feet. Built in 1946, the property sits on a 5,122 square foot LAC2-zoned corner lot with street access on two sides plus alley access. The unit mix features one (1) two-bedroom one bathroom unit, four (4) one-bedroom one-bathroom units, and one studio unit. The property also features a total of seven (7) carport spaces that can potentially serve as ADU conversions to increase the property's long-term cash flow. Located on Florence Ave just west of Western Ave and directly south of the Mann UCLA Community School, this property offers excellent access with close proximity to the 110 Freeway, multiple Metro stations, and easy access to Downtown Los Angeles, Inglewood, Lennox, Gardena and Crenshaw. Contact the listing broker for additional information.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$78,349
|
$26.12
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $78,349 |
| Annual Per SF | $26.12 |
PROPERTY FACTS
| Price | $1,025,000 | Apartment Style | Low-Rise |
| Price Per Unit | $170,833 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 7.64% | Building Size | 3,012 SF |
| Gross Rent Multiplier | 7.84 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1946 |
| Property Subtype | Apartment | Parking Ratio | 2.32/1,000 SF |
| Zoning | LAC2 - 5,122 SF LAC2 Zoned Corner Lot. | ||
| Price | $1,025,000 |
| Price Per Unit | $170,833 |
| Sale Type | Investment |
| Cap Rate | 7.64% |
| Gross Rent Multiplier | 7.84 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 3,012 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1946 |
| Parking Ratio | 2.32/1,000 SF |
| Zoning | LAC2 - 5,122 SF LAC2 Zoned Corner Lot. |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 1 | $1,592 | - |
| 1+1 | 4 | $2,002 | - |
| Studios | 1 | $1,310 | - |
1 1
Walk Score®
Very Walkable (77)
PROPERTY TAXES
| Parcel Number | 6016-035-027 | Improvements Assessment | $200,776 (2025) |
| Land Assessment | $522,260 (2025) | Total Assessment | $723,036 (2025) |
PROPERTY TAXES
Parcel Number
6016-035-027
Land Assessment
$522,260 (2025)
Improvements Assessment
$200,776 (2025)
Total Assessment
$723,036 (2025)
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6 Units | 7.84 GRM & 7.64% CAP Rate | 1901 W Florence Ave
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