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2214-2232 W 8th St 9 Unit Apartment Building $1,200,000 ($133,333/Unit) 7.23% Cap Rate Los Angeles, CA 90057
Investment Highlights
- Priced at a 7.23% CAP Rate
- Approximately 42% Rental Upside
- Offered at $137 Per Square Foot
- First Time on the Market in 30 Years
- Almost Entirely Two-Bedroom Units
Executive Summary
2214 W. 8th Street is a nine (9) unit apartment complex located in the Westlake neighborhood of Los Angeles. The property sits one block away from MacArthur Park and the Westlake/MacArthur Park Metro Line. Tenants have easy access to a multitude of dining and entertainment options within walking distance. The opportunity consists of seven (7) large two-bedroom units and two (2) spacious one-bedroom units spread across 8,760 rentable square feet. Each unit is separately metered for gas and select units have their own private balconies. While the units have been kept in good condition over the decades, there is approximately 42% rental upside that can be achieved as the units turnover.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$152,868
|
$17.45
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$4,586
|
$0.52
|
| Effective Gross Income |
$148,282
|
$16.93
|
| Taxes |
$16,200
|
$1.85
|
| Operating Expenses |
$46,721
|
$5.33
|
| Total Expenses |
$62,921
|
$7.18
|
| Net Operating Income |
$85,361
|
$9.74
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $152,868 |
| Annual Per SF | $17.45 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $4,586 |
| Annual Per SF | $0.52 |
| Effective Gross Income | |
|---|---|
| Annual | $148,282 |
| Annual Per SF | $16.93 |
| Taxes | |
|---|---|
| Annual | $16,200 |
| Annual Per SF | $1.85 |
| Operating Expenses | |
|---|---|
| Annual | $46,721 |
| Annual Per SF | $5.33 |
| Total Expenses | |
|---|---|
| Annual | $62,921 |
| Annual Per SF | $7.18 |
| Net Operating Income | |
|---|---|
| Annual | $85,361 |
| Annual Per SF | $9.74 |
Property Facts
| Price | $1,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $133,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 7.23% | Building Size | 8,760 SF |
| Gross Rent Multiplier | 7.85 | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1909 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | C2-4, Los Angeles | ||
| Price | $1,200,000 |
| Price Per Unit | $133,333 |
| Sale Type | Investment |
| Cap Rate | 7.23% |
| Gross Rent Multiplier | 7.85 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 8,760 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1909 |
| Opportunity Zone |
Yes |
| Zoning | C2-4, Los Angeles |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $1,301 | 850 |
| 2+1 | 7 | $1,448 | 1,000 |
1 1
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 5141-022-017 | Total Assessment | $270,337 |
| Land Assessment | $211,718 | Annual Taxes | $16,200 ($1.85/SF) |
| Improvements Assessment | $58,619 | Tax Year | 2025 |
Property Taxes
Parcel Number
5141-022-017
Land Assessment
$211,718
Improvements Assessment
$58,619
Total Assessment
$270,337
Annual Taxes
$16,200 ($1.85/SF)
Tax Year
2025
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