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The Vertical 4723-4727 W Beverly Blvd 23 Unit Apartment Building $7,950,000 ($345,652/Unit) 5.21% Cap Rate Los Angeles, CA 90004
INVESTMENT HIGHLIGHTS
- The Vertical is a 23-unit, recently updated apartment building with a stabilized income and clear upside.
- A hands-free investment opportunity in a high-demand market with 82% of renter-occupied households in the 5-mile radius.
- Renters benefit from the 1:1 parking ratio, in-unit laundry, hardwood floors, and stainless-steel appliances.
- Nestled in the Larchmont neighborhood of Los Angeles, one of the city’s hottest neighborhoods, across from Paramount Studios.
- All major building systems, including plumbing, electrical, roofing, and exterior finishes, have been revamped, minimizing future capital expenditure.
EXECUTIVE SUMMARY
Dover Management Corporation proudly presents The Vertical, centrally located at 4723, 4327, and 4729 Beverly Boulevard, Los Angeles, CA 90004, in the blossoming Larchmont/Mid-Wilshire corridor. Built in 1962 and extensively re-imagined in 2022, this 23-unit asset features top-tier finishes, in-unit washer/dryers, and enhanced curb appeal through a full exterior modernization. The Vertical delivers 23 covered spaces and fully upgraded capital systems for immediate cash flow at a 5.21% cap rate, with a clear path to 6.14% via interior rent optimization.
This asset offers tenants urban convenience, well-appointed interiors, and strong retention potential. It is situated in a vibrant, highly walkable neighborhood among Larchmont Village, Koreatown, and major transit lines. The fully occupied unit mix consists of 20 one-bed/one-bath units and three studio units, aligning with 40% renter demand of one-bedroom units in the area. Residents of The Vertical are convenient to the Golden Shopping Plaza, the Beverly Hobart Plaza, the Griffith Observatory, MacArthur Park Lake, and other local points of interest. Larchmont sits between Melrose Avenue and Beverly Boulevard, a link between Western Avenue and Larchmont Boulevard. Bus routes and stoplights are along these major thoroughfares, and the Vermont/Beverly Station metro is within walking distance.
The 3-mile radius has a population of 589,130 residents, an average household income of more than $83,000, and annual consumer spending of $6.7B. Year-to-date, the Los Angeles renter demand has been stronger than last year. As the second largest metro in the nation, Los Angeles' economy is vast and diverse, with concentrations in entertainment, tourism, international trade, fashion, and aerospace industries.
Investors seeking a durable, hands-off, cash-flow property with embedded upside in a prime Los Angeles infill location will find The Vertical an optimal addition to their portfolio.
This asset offers tenants urban convenience, well-appointed interiors, and strong retention potential. It is situated in a vibrant, highly walkable neighborhood among Larchmont Village, Koreatown, and major transit lines. The fully occupied unit mix consists of 20 one-bed/one-bath units and three studio units, aligning with 40% renter demand of one-bedroom units in the area. Residents of The Vertical are convenient to the Golden Shopping Plaza, the Beverly Hobart Plaza, the Griffith Observatory, MacArthur Park Lake, and other local points of interest. Larchmont sits between Melrose Avenue and Beverly Boulevard, a link between Western Avenue and Larchmont Boulevard. Bus routes and stoplights are along these major thoroughfares, and the Vermont/Beverly Station metro is within walking distance.
The 3-mile radius has a population of 589,130 residents, an average household income of more than $83,000, and annual consumer spending of $6.7B. Year-to-date, the Los Angeles renter demand has been stronger than last year. As the second largest metro in the nation, Los Angeles' economy is vast and diverse, with concentrations in entertainment, tourism, international trade, fashion, and aerospace industries.
Investors seeking a durable, hands-off, cash-flow property with embedded upside in a prime Los Angeles infill location will find The Vertical an optimal addition to their portfolio.
PROPERTY FACTS
| Price | $7,950,000 | Building Class | C |
| Price Per Unit | $345,652 | Lot Size | 0.32 AC |
| Sale Type | Investment | Building Size | 11,317 SF |
| Cap Rate | 5.21% | Average Occupancy | 100% |
| No. Units | 23 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1962/2022 |
| Property Subtype | Apartment | Parking Ratio | 1.77/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | LARD3 | ||
| Price | $7,950,000 |
| Price Per Unit | $345,652 |
| Sale Type | Investment |
| Cap Rate | 5.21% |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 11,317 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1962/2022 |
| Parking Ratio | 1.77/1,000 SF |
| Zoning | LARD3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- Laundry Facilities
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 20 | - | 312 - 935 |
| Studios | 3 | - | 510 - 10,205 |
Walk Score®
Very Walkable (89)
PROPERTY TAXES
| Parcel Number | 5522-033-026 | Improvements Assessment | $1,257,692 |
| Land Assessment | $3,773,077 | Total Assessment | $5,030,769 |
PROPERTY TAXES
Parcel Number
5522-033-026
Land Assessment
$3,773,077
Improvements Assessment
$1,257,692
Total Assessment
$5,030,769
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The Vertical | 4723-4727 W Beverly Blvd
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