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203 S Detroit St - 201-203 S. Detroit Street 2 Unit Apartment Building Offered at $2,595,000 at a 4.69% Cap Rate Los Angeles, CA 90036
INVESTMENT HIGHLIGHTS
- Huge Units - 3bd+3.5ba (2,590 sq. ft each unit)
- Large Living Rooms with Fireplaces
- Updated Plumbing and Electrical, Solar Panels, EV Charging
- Recently Remodeled
- Hardwood Floors, Updated Kitchens and Bathrooms
- Minutes to Downtown Los Angeles, Beverly Hills, The Grove. Walk to places of worship
EXECUTIVE SUMMARY
PRICE REDUCED $200,000. Beautiful Spanish Colonial duplex in the heart of Miracle Mile, full of charm and character. The units have recently been remodeled. Each spacious unit offers 2,590 sq. ft., 3 bedrooms, and 3.5 bathrooms with bright, open layouts. THE DOWNSTAIRS UNIT WILL BE DELIVERED VACANT - perfect for an owner-user or investor. Features include hardwood floors, updated kitchens and baths, stainless steel appliances, stone countertops, breakfast nook, wet bar, formal dining room, and large living rooms with fireplaces. Enjoy private patios/balconies, abundant natural light, individual washer/dryer hookups, recessed lighting, and backyard space. Modern upgrades include updated electrical and plumbing, central air & heat, new main sewer line, solar panels, EV charging, and security cameras. There is a 2-car garage. Don't miss this rare opportunity to own a timeless property with modern amenities in one of LA's most sought-after neighborhoods. Minutes from Downtown Los Angeles, Beverly Hills, The Grove and Hollywood. Walk to places of worship. The property is located in HPOZ Zone. Upstairs unit is occupied. PLEASE DO NOT DISTURB TENANTS.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$163,740
|
$31.61
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$163,740
|
$31.61
|
| Taxes |
$32,400
|
$6.25
|
| Operating Expenses |
$9,562
|
$1.85
|
| Total Expenses |
$41,962
|
$8.10
|
| Net Operating Income |
$121,778
|
$23.51
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $163,740 |
| Annual Per SF | $31.61 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $163,740 |
| Annual Per SF | $31.61 |
| Taxes | |
|---|---|
| Annual | $32,400 |
| Annual Per SF | $6.25 |
| Operating Expenses | |
|---|---|
| Annual | $9,562 |
| Annual Per SF | $1.85 |
| Total Expenses | |
|---|---|
| Annual | $41,962 |
| Annual Per SF | $8.10 |
| Net Operating Income | |
|---|---|
| Annual | $121,778 |
| Annual Per SF | $23.51 |
PROPERTY FACTS
| Price | $2,595,000 | Property Type | Multifamily |
| Price Per Unit | $1,297,500 | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 5,180 SF |
| Cap Rate | 4.69% | No. Stories | 2 |
| No. Units | 2 | Year Built | 1938 |
| Zoning | LAR2 | ||
| Price | $2,595,000 |
| Price Per Unit | $1,297,500 |
| Sale Type | Investment |
| Cap Rate | 4.69% |
| No. Units | 2 |
| Property Type | Multifamily |
| Lot Size | 0.15 AC |
| Building Size | 5,180 SF |
| No. Stories | 2 |
| Year Built | 1938 |
| Zoning | LAR2 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+3.5 | 2 | $6,823 | 2,950 |
1 1
Walk Score®
Walker's Paradise (93)
Bike Score®
Very Bikeable (70)
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203 S Detroit St - 201-203 S. Detroit Street
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