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2142 Baxter St 3 Unit Apartment Building $1,175,000 ($391,667/Unit) 5.16% Cap Rate Los Angeles, CA 90039
Investment Highlights
- Located In One Of LA’s Most Walkable Neighborhoods With A Walk Score Of 91
- Positioned On A 7,407 SF Lot With ADU Or SB9 Potential For Future Expansion
- Offers Skyline Views, Outdoor Spaces, And Mature Fruit-Tree Gardens
- Two Stabilized Units Plus A Lease-Ready Studio Offering Immediate Upside
- Features Updated Interiors Including Hardwood Flooring And Modern Kitchens
- Close To Echo Park, Silver Lake, And Major Freeway Connections
Executive Summary
2142 Baxter Street presents a rare opportunity to acquire a 3-unit income property in the sought-after Echo Park/Elysian Heights neighborhood of Los Angeles. Priced at $1,175,000, this property offers two stabilized one-bedroom units and a vacant studio ready to lease, delivering immediate upside potential. Set on a 7,407 SF lot zoned LAR1, the asset provides long-term value-add possibilities, including ADU or SB9 legalization options (buyer to verify). The 1910 California Bungalow retains its character while featuring tasteful updates such as refinished hardwood floors and modernized kitchens and baths. Enjoy mature fruit trees, private outdoor areas, and skyline views in a highly walkable area boasting a Walk Score of 91. Tenants benefit from proximity to Echo Park Lake, Silver Lake, and Downtown LA, with quick freeway access for connectivity. Ideal for owner-users, investors, or 1031 buyers seeking stable income with future development potential.
Property Facts
| Price | $1,175,000 | Apartment Style | Low-Rise |
| Price Per Unit | $391,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.16% | Building Size | 1,511 SF |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1910 |
| Property Subtype | Apartment | Parking Ratio | 1.8/1,000 SF |
| Zoning | LAR1 - One-Family Residential | ||
| Price | $1,175,000 |
| Price Per Unit | $391,667 |
| Sale Type | Investment |
| Cap Rate | 5.16% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 1,511 SF |
| No. Stories | 2 |
| Year Built | 1910 |
| Parking Ratio | 1.8/1,000 SF |
| Zoning | LAR1 - One-Family Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,800 | 414 |
| 1+1 | 2 | $2,650 | 496 - 601 |
Fairly walkable
50/100
Very drivable
80/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5422-021-011 | Improvements Assessment | $131,931 |
| Land Assessment | $461,864 | Total Assessment | $593,795 |
Property Taxes
Parcel Number
5422-021-011
Land Assessment
$461,864
Improvements Assessment
$131,931
Total Assessment
$593,795
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2142 Baxter St
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