Log In/Sign Up
Your email has been sent.
2024 Mid-City Fourplex | True 5.70% Cap Rate 2223 S Highland Ave 4 Unit Apartment Building $2,895,000 ($723,750/Unit) 5.85% Cap Rate Los Angeles, CA 90016
Investment Highlights
- NO RENT CONTROL!
- Located in ultra trendy and highly sought after Mid-City, minutes from West Adams and Culver City- A major draw for A+ tenants!
- Rooftop decks with amazing LA views!
- FULLY RENTED at a real 5.85% cap rate. Cash cow!
- One of the LOWEST priced luxury new construction fourplexes in the Mid-City/West Adams area. The best deal you will find!
- All units separately metered. Tenants pay utilities, meaning minimal owner expenses.
Executive Summary
Brand New 2024-built fourplex in central Mid-City, just minutes from West Adams and Culver City, offering a true 5.85% cap rate. Fully leased, this high-end property features spacious living rooms, modern kitchens, and sleek finishes. Two of the units boast private rooftop decks, adding valuable outdoor space. A low-maintenance investment in a prime, high-demand rental market.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$220,800
|
$46.30
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$8,832
|
$1.85
|
| Effective Gross Income |
$211,968
|
$44.45
|
| Taxes |
$34,731
|
$7.28
|
| Operating Expenses |
$7,785
|
$1.63
|
| Total Expenses |
$42,516
|
$8.92
|
| Net Operating Income |
$169,452
|
$35.53
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $220,800 |
| Annual Per SF | $46.30 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $8,832 |
| Annual Per SF | $1.85 |
| Effective Gross Income | |
|---|---|
| Annual | $211,968 |
| Annual Per SF | $44.45 |
| Taxes | |
|---|---|
| Annual | $34,731 |
| Annual Per SF | $7.28 |
| Operating Expenses | |
|---|---|
| Annual | $7,785 |
| Annual Per SF | $1.63 |
| Total Expenses | |
|---|---|
| Annual | $42,516 |
| Annual Per SF | $8.92 |
| Net Operating Income | |
|---|---|
| Annual | $169,452 |
| Annual Per SF | $35.53 |
Property Facts
| Price | $2,895,000 | Building Class | C |
| Price Per Unit | $723,750 | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 4,769 SF |
| Cap Rate | 5.85% | Average Occupancy | 100% |
| Gross Rent Multiplier | 13.11 | No. Stories | 3 |
| No. Units | 4 | Year Built | 2024 |
| Property Type | Multifamily | Parking Ratio | 1/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | LARD1.5 - restricted Density Multiple Dwelling | ||
| Price | $2,895,000 |
| Price Per Unit | $723,750 |
| Sale Type | Investment |
| Cap Rate | 5.85% |
| Gross Rent Multiplier | 13.11 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 4,769 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2024 |
| Parking Ratio | 1/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LARD1.5 - restricted Density Multiple Dwelling |
Amenities
Unit Amenities
- Dishwasher
- Microwave
- Washer/Dryer
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Views
- Deck
- Double Pane Windows
- Instant Hot Water
- Island Kitchen
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+4 | 2 | $4,450 | 1,461 |
| 4+4.5 | 2 | $4,750 | 1,860 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5062-018-031 | Total Assessment | $2,311,740 (2025) |
| Land Assessment | $707,472 (2025) | Annual Taxes | $34,731 ($7.28/SF) |
| Improvements Assessment | $1,604,268 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
5062-018-031
Land Assessment
$707,472 (2025)
Improvements Assessment
$1,604,268 (2025)
Total Assessment
$2,311,740 (2025)
Annual Taxes
$34,731 ($7.28/SF)
Tax Year
2024
1 of 73
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
2024 Mid-City Fourplex | True 5.70% Cap Rate | 2223 S Highland Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.