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3601-3605 W Washington Blvd 12 Unit Apartment Building $2,400,000 ($200,000/Unit) 5.78% Cap Rate Los Angeles, CA 90018
Investment Highlights
- First Time on the Market in Forty (40) Years
- Entirely Two-Bedroom Units
- Approximately 44% Rental Upside
- Each Unit Measures Over 1,100 Square Feet
- Potential to Deliver One Unit Vacant
Executive Summary
3601 W. Washington Boulevard is being offered for sale for the first time in forty (40) years. The 12-unit apartment complex is located in the Arlington Heights submarket of Los Angeles -- near Mid-City. The opportunity consists of three separate structures totaling 13,818 rentable square feet for 12 units. Each unit measures at least 1,100 square feet and is separately metered for gas and electricity. The property offers seven (7) single car garages and ample parking on the large lot. Lastly, there is approximately 44% rental upside that can be achieved as units turnover.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$259,203
|
$23.78
|
| Other Income |
$2,160
|
$0.20
|
| Vacancy Loss |
$7,716
|
$0.71
|
| Effective Gross Income |
$253,647
|
$23.27
|
| Taxes |
$28,800
|
$2.64
|
| Operating Expenses |
$86,171
|
$7.90
|
| Total Expenses |
$114,971
|
$10.55
|
| Net Operating Income |
$138,676
|
$12.72
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $259,203 |
| Annual Per SF | $23.78 |
| Other Income | |
|---|---|
| Annual | $2,160 |
| Annual Per SF | $0.20 |
| Vacancy Loss | |
|---|---|
| Annual | $7,716 |
| Annual Per SF | $0.71 |
| Effective Gross Income | |
|---|---|
| Annual | $253,647 |
| Annual Per SF | $23.27 |
| Taxes | |
|---|---|
| Annual | $28,800 |
| Annual Per SF | $2.64 |
| Operating Expenses | |
|---|---|
| Annual | $86,171 |
| Annual Per SF | $7.90 |
| Total Expenses | |
|---|---|
| Annual | $114,971 |
| Annual Per SF | $10.55 |
| Net Operating Income | |
|---|---|
| Annual | $138,676 |
| Annual Per SF | $12.72 |
Property Facts
| Price | $2,400,000 | Apartment Style | Low-Rise |
| Price Per Unit | $200,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.46 AC |
| Cap Rate | 5.78% | Building Size | 13,818 SF |
| Gross Rent Multiplier | 9.26 | Average Occupancy | 92% |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1917 |
| Property Subtype | Apartment | Parking Ratio | 1.09/1,000 SF |
| Zoning | LACM | ||
| Price | $2,400,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 5.78% |
| Gross Rent Multiplier | 9.26 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 13,818 SF |
| Average Occupancy | 92% |
| No. Stories | 2 |
| Year Built | 1917 |
| Parking Ratio | 1.09/1,000 SF |
| Zoning | LACM |
Amenities
- Smoke Detector
Unit Amenities
- Storage Space
- Washer/Dryer
- Crown Molding
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Tub/Shower
- Walk-In Closets
- Dining Room
- Framed Mirrors
- Large Bedrooms
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Online Services
- Private Bathroom
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | $1,800 | 1,100 |
1 1
Moderately walkable
70/100
Exceptionally drivable
90/100
Good public transit
70/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 5072-015-009 | Total Assessment | $589,029 |
| Land Assessment | $331,079 | Annual Taxes | $28,800 ($2.08/SF) |
| Improvements Assessment | $257,950 | Tax Year | 2025 |
Property Taxes
Parcel Number
5072-015-009
Land Assessment
$331,079
Improvements Assessment
$257,950
Total Assessment
$589,029
Annual Taxes
$28,800 ($2.08/SF)
Tax Year
2025
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3601-3605 W Washington Blvd
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