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411 & 425 S. Alexandria 411-425 S Alexandria Ave 54 Unit Apartment Building $10,990,000 ($203,519/Unit) 5.84% Cap Rate Los Angeles, CA 90020
Investment Highlights
- 2 Separate APN's and 215 Feet of Frontage in Prime Koreatown
- Low Density and Well Maintained Courtyard Buildings
- Attractive Unit Mix that is Ideal for the Immediate Rental Market
- Low Cost Per Unit, Low GRM & Attractive Current Cap Rate
- Impressive Rental Upside & Long Term Development Potential
Executive Summary
411 & 425 S Alexandria Ave is a 2 property apartment community constructed in 1955 & 1956. The properties are on separate APN’s and can later be sold separately. Situated on R4-1 lots totaling approximately 33,354 square feet with 215 feet of frontage, the properties offer a unique opportunity as a value added opportunity to reposition the existing structures and units or potentially to redevelop the site in the long term. The property consists of (15) Studio/One-Bath units, (36) One-Bed/One-Bath units, (1) Two-Bed/One Bath unit, and (2) Two-Bed/Two Bath units that are separately metered for gas and electricity. Parking at 425 S Alexandria is subterranean and tuck under and carports at 411 S Alexandria. Both properties contain swimming pools and are two story courtyard structures with pitched roofs constructed of wood frame and stucco.
Financial Summary (Pro Forma - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
| Price | $10,990,000 | Apartment Style | Low-Rise |
| Price Per Unit | $203,519 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.27 AC |
| Cap Rate | 5.84% | Building Size | 41,876 SF |
| Gross Rent Multiplier | 9.78 | No. Stories | 2 |
| No. Units | 54 | Year Built | 1955 |
| Property Type | Multifamily | Parking Ratio | 1.06/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R4, Los Angeles | ||
| Price | $10,990,000 |
| Price Per Unit | $203,519 |
| Sale Type | Investment |
| Cap Rate | 5.84% |
| Gross Rent Multiplier | 9.78 |
| No. Units | 54 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 41,876 SF |
| No. Stories | 2 |
| Year Built | 1955 |
| Parking Ratio | 1.06/1,000 SF |
| Zoning | R4, Los Angeles |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Disposal
- Storage Space
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Double Pane Windows
- Freezer
- Smoke Free
Site Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
- Pool
- Tenant Controlled HVAC
- Gated
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 15 | $1,544 | 400 |
| 1+1 | 36 | $1,799 | 578 |
| 2+1 | 1 | $1,896 | 800 |
| 2+2 | 2 | $1,880 | 800 |
1 1
Walk Score®
Walker's Paradise (93)
Transit Score®
Excellent Transit (80)
Property Taxes
| Parcel Numbers | Total Assessment | $4,697,798 | |
| Land Assessment | $2,777,321 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,920,477 | Tax Year | 2025 |
Property Taxes
Parcel Numbers
Land Assessment
$2,777,321
Improvements Assessment
$1,920,477
Total Assessment
$4,697,798
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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411 & 425 S. Alexandria | 411-425 S Alexandria Ave
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