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2804 S Norton Ave
Los Angeles, CA 90018
Multifamily Property For Sale
·
5 Units
INVESTMENT HIGHLIGHTS
- Ideal unit mix, consisting of (2) 2 Bed/1 Bath, (1) 3 Bed/1 Bath, (1) 3 Bed/2 Bath, and (1) 3 Bed/2.5 Bath Units
- Conveniently located in West Adams, the property is surrounded by restaurants, shopping centers, and major metropolitan hubs
- Four of the five units are currently occupied by HACLA tenants, providing stable, government-backed rental income
EXECUTIVE SUMMARY
2804 Norton Ave is a rare, high-yield 5-unit apartment located in a prime pocket of West Adams, offering strong in-place cash flow supported by highly desirable unit
layouts. The property benefits from special financing available at 80% LTV with 30-year interest-only terms, creating an attractive leverage opportunity for investors. The asset delivers a 7.06% going-in cap rate and a 7.33% cash-on-cash return while trading at under $400 per square foot, a compelling basis for the submarket. Four of the five units are large, townhome-style residences, a layout that is extremely desirable to tenants and consistently drives strong rents with lower turnover. The property’s total average monthly rent exceeds $3,000 per unit, highlighting the durability of the in-place income. Additionally, four of the five units are leased under HACLA, providing government guaranteed rents and long-term income stability. This is a turn-key opportunity to acquire stable cash flow, favorable long-term debt, and well-positioned multifamily housing in one of Los Angeles’ most active neighborhoods.
layouts. The property benefits from special financing available at 80% LTV with 30-year interest-only terms, creating an attractive leverage opportunity for investors. The asset delivers a 7.06% going-in cap rate and a 7.33% cash-on-cash return while trading at under $400 per square foot, a compelling basis for the submarket. Four of the five units are large, townhome-style residences, a layout that is extremely desirable to tenants and consistently drives strong rents with lower turnover. The property’s total average monthly rent exceeds $3,000 per unit, highlighting the durability of the in-place income. Additionally, four of the five units are leased under HACLA, providing government guaranteed rents and long-term income stability. This is a turn-key opportunity to acquire stable cash flow, favorable long-term debt, and well-positioned multifamily housing in one of Los Angeles’ most active neighborhoods.
PROPERTY FACTS
| Price Per Unit | $370,000 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 7.06% | Lot Size | 0.12 AC |
| Gross Rent Multiplier | 10.16 | Building Size | 4,134 SF |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | LARD1.5 | ||
| Price Per Unit | $370,000 |
| Sale Type | Investment |
| Cap Rate | 7.06% |
| Gross Rent Multiplier | 10.16 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 4,134 SF |
| No. Stories | 2 |
| Year Built | 1964 |
| Opportunity Zone |
Yes |
| Zoning | LARD1.5 |
PROPERTY TAXES
| Parcel Number | 5051-010-002 | Improvements Assessment | $260,264 |
| Land Assessment | $369,423 | Total Assessment | $629,687 |
PROPERTY TAXES
Parcel Number
5051-010-002
Land Assessment
$369,423
Improvements Assessment
$260,264
Total Assessment
$629,687
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