No Rent Control (RSO) 2022 Year Built! 3324 N Chapman St 8 Unit Apartment Building $4,560,000 ($570,000/Unit) 5.22% Cap Rate Los Angeles, CA 90065

Newly built (2022) 8-unit multifamily property presenting an exceptional investment opportunity in the heart of Glassell Park. With 7 of 8 units on month-to-month leases and no RSO (Rent Stabilization Ordinance), the property offers immediate rental upside of approximately +-23.64%. The building features a mix of two 3-bedroom/2-bath units and six 2-bedroom units with 2, 1.5, or 1 bathroom, all equipped with private in-unit laundry. Most units include balconies, and select units offer private office spaces. Seven units are separately metered for electricity, gas, and internet, with water privately metered in 7 units, ensuring efficient utility management.
Situated on a 9,613 SF lot with 14 parking spaces, the property also provides potential for expansion or the addition of seven(7) ADUs (buyer to verify). Common amenities include two storage rooms, with six units ready to accommodate additional storage. Located in a highly desirable area near Glendale, Atwater Village, Los Feliz, Mt. Washington, and Silver Lake, the property is close to major amenities including Dodger Stadium, Whole Foods, Costco, Glendale Galleria, Americana at Brand, schools, and hospitals. Easy access to FWY 5, 2, 110, 134, and 101 provides convenient connectivity to all major employment hubs.
This property combines new construction, modern finishes, strong rental upside, and a prime location, making it ideal for investors seeking growth or owner-users looking for turnkey operations in Los Angeles.