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401 S La Fayette Park Pl
Los Angeles, CA 90057
Plaza Lafayette · Multifamily Property For Sale
·
58 Units
Investment Highlights
- EXCELLENT UNIT MIX IN AN EMERGING URBAN CORE SUBMARKET
- ATTRACTIVE ENTRY PRICING FOR A CENTRAL LA SUBMARKET
- MULTIPLEREPOSITIONING STRATEGIES
Executive Summary
EXCELLENT UNIT MIX IN AN EMERGING URBAN CORE SUBMARKET
Built in 2001, Plaza Lafayette offers 81% two bedroom units with an average size of 954 square feet. The neighborhood boasts a
walk-score of 90, providing residents with quick access to recreation, retail, employment and schools all within a 5 to 10 minute walk.
MULTIPLEREPOSITIONING STRATEGIES
The Rampart Village/Westlake submarket offers a strong location, significant renter demand, demographic stability, and ongoing
development, making it an attractive investment market. New ownership would have the opportunity to implement:
• Continued Value-Add Strategy—A total of 31 units have received minor renovations, which include wood-style flooring,
enhanced stainless-steel appliances, and new hardware installed throughout. By renovating the remaining 27 units, the new ownership will be strategically positioned to take advantage of the ongoing rent pressure from nearby submarkets and new developments in the area.
• Affordable Conversion—the area’s median household income of $70,477 and strong base of working professionals creates
ideal conditions for a LIHTC-focused repositioning strategy. This potential model allows new ownership to abate up to 100% of property taxes while meeting the significant unmet demand for middle -income housing in Los Angeles
ONGOING HOUSING DEVELOPMENT SIGNALS MARKET MOMENTUM
Numerous ongoing housing developments—comprising both mixed-income and market-rate initiatives—demonstrate robust investor
confidence and a favorable municipal attitude towards new housing. This positive trend in reinvestment strengthens long -term value
appreciation and confirms Rampart Village as a burgeoning hotspot for supply and demand.
ATTRACTIVE ENTRY PRICING FOR A CENTRAL LA SUBMARKET
New construction pricing and recent redevelopment activity suggest that Rampart Village offers relatively favorable acquisition cost
compared to more established Westside and Downtown submarkets —creating an opportunity to capture yield while still gaining
exposure to a high-demand, centrally located neighborhood.
Built in 2001, Plaza Lafayette offers 81% two bedroom units with an average size of 954 square feet. The neighborhood boasts a
walk-score of 90, providing residents with quick access to recreation, retail, employment and schools all within a 5 to 10 minute walk.
MULTIPLEREPOSITIONING STRATEGIES
The Rampart Village/Westlake submarket offers a strong location, significant renter demand, demographic stability, and ongoing
development, making it an attractive investment market. New ownership would have the opportunity to implement:
• Continued Value-Add Strategy—A total of 31 units have received minor renovations, which include wood-style flooring,
enhanced stainless-steel appliances, and new hardware installed throughout. By renovating the remaining 27 units, the new ownership will be strategically positioned to take advantage of the ongoing rent pressure from nearby submarkets and new developments in the area.
• Affordable Conversion—the area’s median household income of $70,477 and strong base of working professionals creates
ideal conditions for a LIHTC-focused repositioning strategy. This potential model allows new ownership to abate up to 100% of property taxes while meeting the significant unmet demand for middle -income housing in Los Angeles
ONGOING HOUSING DEVELOPMENT SIGNALS MARKET MOMENTUM
Numerous ongoing housing developments—comprising both mixed-income and market-rate initiatives—demonstrate robust investor
confidence and a favorable municipal attitude towards new housing. This positive trend in reinvestment strengthens long -term value
appreciation and confirms Rampart Village as a burgeoning hotspot for supply and demand.
ATTRACTIVE ENTRY PRICING FOR A CENTRAL LA SUBMARKET
New construction pricing and recent redevelopment activity suggest that Rampart Village offers relatively favorable acquisition cost
compared to more established Westside and Downtown submarkets —creating an opportunity to capture yield while still gaining
exposure to a high-demand, centrally located neighborhood.
Property Facts
| Price Per Unit | $342,672 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.50 AC |
| Cap Rate | 5.21% | Building Size | 50,824 SF |
| No. Units | 58 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 2002 |
| Property Subtype | Apartment | Parking Ratio | 0.59/1,000 SF |
| Apartment Style | Mid-Rise | ||
| Zoning | LAR4 | ||
| Price Per Unit | $342,672 |
| Sale Type | Investment |
| Cap Rate | 5.21% |
| No. Units | 58 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.50 AC |
| Building Size | 50,824 SF |
| No. Stories | 4 |
| Year Built | 2002 |
| Parking Ratio | 0.59/1,000 SF |
| Zoning | LAR4 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Crown Molding
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Walk-In Closets
- Wheelchair Accessible (Rooms)
Site Amenities
- Fitness Center
- Laundry Facilities
- Picnic Area
- Property Manager on Site
- Grill
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 425 |
| 1+1 | 10 | - | 641 - 801 |
| 2+1 | 4 | - | 762 - 818 |
| 2+2 | 43 | - | 800 - 1,007 |
Property Taxes
| Parcel Number | 5155-012-014 | Improvements Assessment | $16,886,525 |
| Land Assessment | $6,905,483 | Total Assessment | $23,792,008 |
Property Taxes
Parcel Number
5155-012-014
Land Assessment
$6,905,483
Improvements Assessment
$16,886,525
Total Assessment
$23,792,008
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