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2614 Griffin Ave 24 Unit Apartment Building $3,880,000 ($161,667/Unit) 4.57% Cap Rate Los Angeles, CA 90031

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INVESTMENT HIGHLIGHTS

All one-bedroom, one-bath units with 19 parking spaces. Seismic retrofit completed
Seismic retrofit completed and new roof installed
Prime Lincoln Heights location with strong tenant demand.

Elevator building; easily convertible to senior living units. • Seismic retrofit completed
Significant value-add opportunity with over 40% rent upside
First time on the market in over 20 years.

EXECUTIVE SUMMARY

Don’t miss this rare opportunity to acquire a stable income-producing property with significant upside. This 24-unit apartment building is located in the prime Lincoln Heights area and consists entirely of one-bedroom, one-bath units in a classic courtyard-style layout. The elevator-served building is easily convertible to senior living use and is situated in a high-demand rental market with a very low vacancy rate.
Major capital improvements have already been completed, including a full seismic retrofit and a recently replaced roof. The property offers a low cost per unit and is first time on market in over 20 years. With approximately 40% rent upside while maintaining in-place stable income, this is an exceptional value-add investment opportunity.

Griffin Flyer 3.88

FINANCIAL SUMMARY (ACTUAL - 2025)	ANNUAL	ANNUAL PER SF
Gross Rental Income	$354,206	$24.67
Other Income	$5,482	$0.38
Vacancy Loss	-	-
Effective Gross Income	$359,688	$25.05
Taxes	-	-
Operating Expenses	-	-
Total Expenses	$178,822	$12.45
Net Operating Income	$180,866	$12.60

FINANCIAL SUMMARY (ACTUAL - 2025)

Gross Rental Income
Annual	$354,206
Annual Per SF	$24.67

Other Income
Annual	$5,482
Annual Per SF	$0.38

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	$359,688
Annual Per SF	$25.05

Taxes
Annual	-
Annual Per SF	-

Operating Expenses
Annual	-
Annual Per SF	-

Total Expenses
Annual	$178,822
Annual Per SF	$12.45

Net Operating Income
Annual	$180,866
Annual Per SF	$12.60

PROPERTY FACTS

Price	$3,880,000	Apartment Style	Low-Rise
Price Per Unit	$161,667	Building Class	C
Sale Type	Investment	Lot Size	0.31 AC
Cap Rate	4.57%	Building Size	14,359 SF
Gross Rent Multiplier	10.95	Average Occupancy	100%
No. Units	24	No. Stories	3
Property Type	Multifamily	Year Built	1970
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	LARD3

Price	$3,880,000
Price Per Unit	$161,667
Sale Type	Investment
Cap Rate	4.57%
Gross Rent Multiplier	10.95
No. Units	24
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.31 AC
Building Size	14,359 SF
Average Occupancy	100%
No. Stories	3
Year Built	1970
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	LARD3