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415 Loma Dr 9 Unit Apartment Building $1,795,000 ($199,444/Unit) 6.80% Cap Rate Los Angeles, CA 90017
Investment Highlights
- 9-Unit Apartment Community Situated in the Westlake North Neighborhood
- Secured Code-Gated Access Along with Six (6) Parking Spots On-site
- Strong In-Place Cash Flow at a 6.8% CAP Rate with More Than 26% Upside in Rents
- The Property has been Extensively Renovated Throughout, with Over $700,000 of Capital Improvements Completed By the Ownership
- Large Community Backyard Space Offers ADU Development Opportunity
- Turnkey 2-Bedroom Units Feature a Private and Spacious Sundeck Patio
Executive Summary
Well-maintained 9-unit apartment community located in the desirable Westlake North neighborhood of Los Angeles. Ownership has invested over $700,000 in capital improvements, creating a turnkey asset featuring remodeled units with in-unit washer/dryers, recessed lighting, upgraded windows, modern appliances, updated electrical systems, copper plumbing, and a newer roof. The property also offers secured code-gated access, six on-site parking spaces, and spacious private sundeck patios for select two-bedroom units.
The property delivers strong in-place cash flow at a 6.8% CAP rate while offering more than 26% rental upside. A large community backyard presents potential for future ADU development, providing additional value-add opportunities. Ideally situated just south of West 3rd Street, residents enjoy walkable access to popular retail, dining, and ongoing neighborhood revitalization, with convenient access to Echo Park, Silver Lake, and Downtown Los Angeles.
The property delivers strong in-place cash flow at a 6.8% CAP rate while offering more than 26% rental upside. A large community backyard presents potential for future ADU development, providing additional value-add opportunities. Ideally situated just south of West 3rd Street, residents enjoy walkable access to popular retail, dining, and ongoing neighborhood revitalization, with convenient access to Echo Park, Silver Lake, and Downtown Los Angeles.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$176,625
|
$31.66
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$176,625
|
$31.66
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$54,621
|
$9.79
|
| Net Operating Income |
$122,004
|
$21.87
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $176,625 |
| Annual Per SF | $31.66 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $176,625 |
| Annual Per SF | $31.66 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $54,621 |
| Annual Per SF | $9.79 |
| Net Operating Income | |
|---|---|
| Annual | $122,004 |
| Annual Per SF | $21.87 |
Property Facts
| Price | $1,795,000 | Apartment Style | Low-Rise |
| Price Per Unit | $199,444 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.22 AC |
| Cap Rate | 6.80% | Building Size | 5,579 SF |
| Gross Rent Multiplier | 9.86 | No. Stories | 2 |
| No. Units | 9 | Year Built | 1953 |
| Property Type | Multifamily | Parking Ratio | 1.08/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | LAR4 | ||
| Price | $1,795,000 |
| Price Per Unit | $199,444 |
| Sale Type | Investment |
| Cap Rate | 6.80% |
| Gross Rent Multiplier | 9.86 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 5,579 SF |
| No. Stories | 2 |
| Year Built | 1953 |
| Parking Ratio | 1.08/1,000 SF |
| Zoning | LAR4 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | $2,050 | - |
| 2+1 | 1 | $2,800 | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 5153-006-010 | Improvements Assessment | $423,611 |
| Land Assessment | $1,160,584 | Total Assessment | $1,584,195 |
Property Taxes
Parcel Number
5153-006-010
Land Assessment
$1,160,584
Improvements Assessment
$423,611
Total Assessment
$1,584,195
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415 Loma Dr