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3672 Percy St 6 Unit Apartment Building $2,595,000 ($432,500/Unit) 6.22% Cap Rate Los Angeles, CA 90023
Executive Summary
Huge newer construction Boyle Heights single parcel 6 unit campus comprised of (3) Duplexes with spacious 3 Bed, 2 Bath Units + previously RTI plans for (2) 1 Bed “Tiny Home” ADUs. Constructed in 2017, the property is exempt from LA RSO and CA Statewide AB1482 rent control. Luxury newer construction finishes and features include in-unit laundry, stainless appliances with microwaves, dishwashers, and fridges, recessed overhead lighting, central AC, vaulted ceilings and balconies in upper units, vinyl plank flooring, master suites, fire sprinklers, modern open concept floor plans, and new landscaping. All utilities are separately metered leaving zero utility expenses for the owner. High yield, low expense property at a true in-place cap rate of 6.2% on proven actuals and a GRM of 11.49 plus upside to 9.7X GRM and a 7.7% cap rate after ADU construction. Very well parked with 10 parking spaces plus additional driveway parking. Conveniently located in Boyle Heights just 2 miles to Downtown LA Arts District across the 6th Street Bridge. Walk to LA Metro Gold Line for direct access to Metro Center. Directly across the street from Stevenson Middle School. 3.5 Miles to Keck USC Hospital. 4 Miles to Cal State LA. 6 Miles to Dodger Stadium. 7.5 Miles to USC. Close access to the 5, 10, 60, and 710 freeways.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$225,300
|
$34.28
|
| Other Income |
$540
|
$0.08
|
| Vacancy Loss |
$11,265
|
$1.71
|
| Effective Gross Income |
$214,575
|
$32.65
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$53,250
|
$8.10
|
| Net Operating Income |
$161,325
|
$24.55
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $225,300 |
| Annual Per SF | $34.28 |
| Other Income | |
|---|---|
| Annual | $540 |
| Annual Per SF | $0.08 |
| Vacancy Loss | |
|---|---|
| Annual | $11,265 |
| Annual Per SF | $1.71 |
| Effective Gross Income | |
|---|---|
| Annual | $214,575 |
| Annual Per SF | $32.65 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $53,250 |
| Annual Per SF | $8.10 |
| Net Operating Income | |
|---|---|
| Annual | $161,325 |
| Annual Per SF | $24.55 |
Property Facts
| Price | $2,595,000 | Apartment Style | Low-Rise |
| Price Per Unit | $432,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 6.22% | Building Size | 6,578 SF |
| Gross Rent Multiplier | 11.49 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2018 |
| Property Subtype | Apartment | Parking Ratio | 1.52/1,000 SF |
| Zoning | LARD1.5 | ||
| Price | $2,595,000 |
| Price Per Unit | $432,500 |
| Sale Type | Investment |
| Cap Rate | 6.22% |
| Gross Rent Multiplier | 11.49 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.21 AC |
| Building Size | 6,578 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2018 |
| Parking Ratio | 1.52/1,000 SF |
| Zoning | LARD1.5 |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Washer/Dryer
- Heating
- Hardwood Floors
- Refrigerator
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 6 | $3,129 | 1,077 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Good public transit
60/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 5188-008-015 | Improvements Assessment | $920,066 |
| Land Assessment | $2,002,498 | Total Assessment | $2,922,564 |
Property Taxes
Parcel Number
5188-008-015
Land Assessment
$2,002,498
Improvements Assessment
$920,066
Total Assessment
$2,922,564
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