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1135 Leighton Ave | 3944 S Budlong Ave 3944 S Budlong Ave 8 Unit Apartment Building $4,395,000 ($549,375/Unit) 6.30% Cap Rate Los Angeles, CA 90037
Investment Highlights
- Modern 2019 Construction
- Premier USC & Exposition Park Location
- Transit-Oriented & Walkable
- Strong In-Place Cashflow
- Uniform Large Unit Mix
- Dynamic Submarket Growth
Executive Summary
True North CRE of Compass Commercial, as the exclusive listing agent, is pleased to present 1135 Leighton Avenue & 3944 South Budlong Avenue, an eight-unit multifamily investment opportunity located in the Exposition Park neighborhood of Los Angeles. Constructed in 2019, the property comprises approximately 10,887± square feet of rentable building area, situated on two parcels totaling 13,776± square feet, zoned RD1.5-1-CPIO, providing long-term operational flexibility and investment stability in a highly desirable Los Angeles submarket.
The property features eight well-designed three-bedroom, three-bathroom apartment units, offering spacious layouts tailored to modern renter demand. Each unit is individually metered for gas and electricity and includes a tankless water heater, providing operational efficiency and cost control. Ownership benefits from minimal utility obligations, as tenants are responsible for water, trash, gas, and electricity expenses. The property is subject to the Los Angeles Rent Stabilization Ordinance (LARSO).
Strategically located in Exposition Park, one of Los Angeles’ most culturally significant and supply-constrained neighborhoods, the property benefits from strong tenant demand driven by the area’s academic, cultural, and employment anchors. Residents enjoy proximity to the University of Southern California (USC), the California Science Center, the renowned museums of Exposition Park, and BMO Stadium, as well as the vibrant USC Village retail and dining corridor.
The location offers excellent regional connectivity with convenient access to Downtown Los Angeles, major employment centers, and key transportation corridors, including the I-110 and I- 10 freeways, along with the Metro E Line, providing direct light rail access across the Westside and Downtown. This combination of quality construction, prime location, and strong underlying fundamentals presents investors with a compelling long-term hold opportunity in one of Southern California’s most dynamic and evolving multifamily markets.
The property features eight well-designed three-bedroom, three-bathroom apartment units, offering spacious layouts tailored to modern renter demand. Each unit is individually metered for gas and electricity and includes a tankless water heater, providing operational efficiency and cost control. Ownership benefits from minimal utility obligations, as tenants are responsible for water, trash, gas, and electricity expenses. The property is subject to the Los Angeles Rent Stabilization Ordinance (LARSO).
Strategically located in Exposition Park, one of Los Angeles’ most culturally significant and supply-constrained neighborhoods, the property benefits from strong tenant demand driven by the area’s academic, cultural, and employment anchors. Residents enjoy proximity to the University of Southern California (USC), the California Science Center, the renowned museums of Exposition Park, and BMO Stadium, as well as the vibrant USC Village retail and dining corridor.
The location offers excellent regional connectivity with convenient access to Downtown Los Angeles, major employment centers, and key transportation corridors, including the I-110 and I- 10 freeways, along with the Metro E Line, providing direct light rail access across the Westside and Downtown. This combination of quality construction, prime location, and strong underlying fundamentals presents investors with a compelling long-term hold opportunity in one of Southern California’s most dynamic and evolving multifamily markets.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$377,244
|
$34.65
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$11,317
|
$1.04
|
| Effective Gross Income |
$365,927
|
$33.61
|
| Taxes |
$52,740
|
$4.84
|
| Operating Expenses |
$36,437
|
$3.35
|
| Total Expenses |
$89,177
|
$8.19
|
| Net Operating Income |
$276,750
|
$25.42
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $377,244 |
| Annual Per SF | $34.65 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $11,317 |
| Annual Per SF | $1.04 |
| Effective Gross Income | |
|---|---|
| Annual | $365,927 |
| Annual Per SF | $33.61 |
| Taxes | |
|---|---|
| Annual | $52,740 |
| Annual Per SF | $4.84 |
| Operating Expenses | |
|---|---|
| Annual | $36,437 |
| Annual Per SF | $3.35 |
| Total Expenses | |
|---|---|
| Annual | $89,177 |
| Annual Per SF | $8.19 |
| Net Operating Income | |
|---|---|
| Annual | $276,750 |
| Annual Per SF | $25.42 |
Property Facts
| Price | $4,395,000 | Building Class | C |
| Price Per Unit | $549,375 | Lot Size | 0.32 AC |
| Sale Type | Investment | Building Size | 10,887 SF |
| Cap Rate | 6.30% | Average Occupancy | 100% |
| Gross Rent Multiplier | 11.7 | No. Stories | 2 |
| No. Units | 8 | Year Built | 2019 |
| Property Type | Multifamily | Parking Ratio | 0.73/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Garden | ||
| Zoning | LARD1.5 | ||
| Price | $4,395,000 |
| Price Per Unit | $549,375 |
| Sale Type | Investment |
| Cap Rate | 6.30% |
| Gross Rent Multiplier | 11.7 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 10,887 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2019 |
| Parking Ratio | 0.73/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LARD1.5 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Oven
- Walk-In Closets
- Vinyl Flooring
- Large Bedrooms
- Quartz Countertops
Site Amenities
- Fenced Lot
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+3 | 8 | $4,095 | - |
1 1
Moderately walkable
60/100
Very drivable
80/100
Strong public transit
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Total Assessment | $4,784,695 | |
| Land Assessment | $2,597,405 | Annual Taxes | $52,740 ($4.84/SF) |
| Improvements Assessment | $2,187,290 | Tax Year | 2025 |
Property Taxes
Parcel Numbers
Land Assessment
$2,597,405
Improvements Assessment
$2,187,290
Total Assessment
$4,784,695
Annual Taxes
$52,740 ($4.84/SF)
Tax Year
2025
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1135 Leighton Ave | 3944 S Budlong Ave | 3944 S Budlong Ave
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