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Rodney Apartments 2050 Rodney Dr 16 Unit Apartment Building $5,195,000 ($324,688/Unit) 4.58% Cap Rate Los Angeles, CA 90027
INVESTMENT HIGHLIGHTS
- Well-Maintained Mid-Century Two-Story Courtyard Building with Pool
- Spacious Interiors with Natural Light and Hillside Views
- 50% of Units Offer Significant Rental Upside via Renovation
- 16 Units with Strong Mix of One- and Two-Bedroom Floor Plans
- Seller financing available
- Multiple ADU Opportunities via SB 1211
EXECUTIVE SUMMARY
Rare opportunity to acquire a value-add 16-unit property in the heart of the highly desirable Los Feliz rental market. The asset offers a strong unit mix of spacious one- and two-bedroom residences, each featuring large bedrooms, open living areas, and abundant natural light. Approximately 50% of the units present significant rental
upside through interior renovations, while additional income potential exists with multiple ADU opportunities via SB 1211.
he beautifully maintained mid-century, two-story courtyard building is centered around a sparkling in-ground pool and includes 16 parking spaces. Stabilized metrics project to a 7% CAP rate. Ideally located just a few blocks from Los Feliz Village, Starbucks Reserve, Alcove, Figaro, and the eclectic shopping, dining, and entertainment
that define the neighborhood.
upside through interior renovations, while additional income potential exists with multiple ADU opportunities via SB 1211.
he beautifully maintained mid-century, two-story courtyard building is centered around a sparkling in-ground pool and includes 16 parking spaces. Stabilized metrics project to a 7% CAP rate. Ideally located just a few blocks from Los Feliz Village, Starbucks Reserve, Alcove, Figaro, and the eclectic shopping, dining, and entertainment
that define the neighborhood.
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $5,195,000 | Apartment Style | Low-Rise |
| Price Per Unit | $324,688 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.43 AC |
| Cap Rate | 4.58% | Building Size | 13,982 SF |
| Gross Rent Multiplier | 13 | Average Occupancy | 95% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 0.97/1,000 SF |
| Zoning | LAR3 - Multi-Family | ||
| Price | $5,195,000 |
| Price Per Unit | $324,688 |
| Sale Type | Investment |
| Cap Rate | 4.58% |
| Gross Rent Multiplier | 13 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 13,982 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 0.97/1,000 SF |
| Zoning | LAR3 - Multi-Family |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Heating
- Kitchen
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 11 | - | - |
| 1+1 | 5 | - | - |
1 1
Walk Score®
Walker's Paradise (93)
PROPERTY TAXES
| Parcel Number | 5590-007-032 | Total Assessment | $5,412,160 (2025) |
| Land Assessment | $3,714,228 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,697,932 (2025) | Tax Year | 2026 |
PROPERTY TAXES
Parcel Number
5590-007-032
Land Assessment
$3,714,228 (2025)
Improvements Assessment
$1,697,932 (2025)
Total Assessment
$5,412,160 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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Rodney Apartments | 2050 Rodney Dr
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