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4038 Marathon St 10 Unit Apartment Building $1,725,000 ($172,500/Unit) 5.89% Cap Rate Los Angeles, CA 90029
Investment Highlights
- A 10-unit apartment community that’s a true value-add opportunity in a prime East Hollywood location.
- Large parking lot offers potential ADU options for additional future cashflow.
- Approximately 1 block away from popular Virgil Avenue food shops like Sqirl, Courage Bagel, Budonoki, and KinKan LA.
- Features 11 parking spaces on-site.
- 9.8 GRM and a low $222/SF at the Asking Price.
- Separately Metered for Gas and Electric.
Executive Summary
This 10-unit apartment community presents a true value-add opportunity in the heart of East Hollywood, offering strong fundamentals and exceptional upside for investors. Priced at a 9.8 GRM and just $222 per square foot, the property stands out as an attractive acquisition in one of Los Angeles’ most dynamic rental markets. Tenants enjoy 11 on-site parking spaces, and the large parking lot provides potential for future ADU development to further boost cash flow and property value.
Located just one block from the bustling Virgil Avenue corridor, residents are steps away from some of LA’s most popular dining destinations including Sqirl, Courage Bagel, Budonoki, and KinKan LA. The property is separately metered for gas and electric, reducing operating costs and streamlining management for new ownership. With its prime location, built-in value-add potential, and favorable price metrics, this East Hollywood asset is an excellent long-term investment opportunity.
Located just one block from the bustling Virgil Avenue corridor, residents are steps away from some of LA’s most popular dining destinations including Sqirl, Courage Bagel, Budonoki, and KinKan LA. The property is separately metered for gas and electric, reducing operating costs and streamlining management for new ownership. With its prime location, built-in value-add potential, and favorable price metrics, this East Hollywood asset is an excellent long-term investment opportunity.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$176,004
|
$22.66
|
| Other Income |
$170,724
|
$21.98
|
| Vacancy Loss |
$5,280
|
$0.68
|
| Effective Gross Income |
$341,448
|
$43.96
|
| Taxes |
$27,135
|
$3.49
|
| Operating Expenses |
$41,989
|
$5.41
|
| Total Expenses |
$69,124
|
$8.90
|
| Net Operating Income |
$272,324
|
$35.06
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $176,004 |
| Annual Per SF | $22.66 |
| Other Income | |
|---|---|
| Annual | $170,724 |
| Annual Per SF | $21.98 |
| Vacancy Loss | |
|---|---|
| Annual | $5,280 |
| Annual Per SF | $0.68 |
| Effective Gross Income | |
|---|---|
| Annual | $341,448 |
| Annual Per SF | $43.96 |
| Taxes | |
|---|---|
| Annual | $27,135 |
| Annual Per SF | $3.49 |
| Operating Expenses | |
|---|---|
| Annual | $41,989 |
| Annual Per SF | $5.41 |
| Total Expenses | |
|---|---|
| Annual | $69,124 |
| Annual Per SF | $8.90 |
| Net Operating Income | |
|---|---|
| Annual | $272,324 |
| Annual Per SF | $35.06 |
Property Facts Under Contract
| Price | $1,725,000 | Building Class | C |
| Price Per Unit | $172,500 | Lot Size | 0.21 AC |
| Sale Type | Investment | Building Size | 7,767 SF |
| Cap Rate | 5.89% | Average Occupancy | 95% |
| Gross Rent Multiplier | 9.8 | No. Stories | 2 |
| No. Units | 10 | Year Built | 1929 |
| Property Type | Multifamily | Parking Ratio | 1.42/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RD1.5 | ||
| Price | $1,725,000 |
| Price Per Unit | $172,500 |
| Sale Type | Investment |
| Cap Rate | 5.89% |
| Gross Rent Multiplier | 9.8 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 7,767 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1929 |
| Parking Ratio | 1.42/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RD1.5 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | $1,172 | - |
| 1+1 | 8 | $1,784 | - |
1 1
Walk Score®
Walker's Paradise (92)
Bike Score®
Very Bikeable (72)
Property Taxes
| Parcel Number | 5539-020-007 | Total Assessment | $1,834,879 (2025) |
| Land Assessment | $1,065,414 (2025) | Annual Taxes | $27,135 ($3.49/SF) |
| Improvements Assessment | $769,465 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
5539-020-007
Land Assessment
$1,065,414 (2025)
Improvements Assessment
$769,465 (2025)
Total Assessment
$1,834,879 (2025)
Annual Taxes
$27,135 ($3.49/SF)
Tax Year
2024
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4038 Marathon St
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