474 S Eastern Ave 5 Unit Apartment Building Offered at $1,475,000 at a 7.20% Cap Rate East Los Angeles, CA 90022

Karl Markarian presents a rare opportunity to acquire a stabilized, income-producing multifamily asset in the heart of East Los Angeles—one of the most densely populated and supply-constrained rental markets in Los Angeles County.
Positioned on a ±5,700 SF lot, the property consists of five bungalow-style units totaling approximately 3,433 square feet. The layout offers excellent unit separation and privacy, a key driver for long-term tenant retention in this submarket. With 100% occupancy and a strong in-place rent roll, the asset delivers immediate cash flow from day one.
Built in 1923 and thoughtfully improved over time, the property blends classic construction with functional upgrades, resulting in a low-maintenance investment profile. The current expense structure is lean—limited primarily to taxes and utilities—allowing for operational efficiency and stronger net income performance.
From an investment standpoint, the deal is compelling. The property is offered at approximately a 7.20% cap rate, significantly outperforming the broader Los Angeles average, and features additional upside through rental repositioning, with several units currently on month-to-month leases.
Strategically located along Eastern Avenue, the asset benefits from proximity to major employment hubs, educational institutions, and transit infrastructure, including access to the Metro E Line. The surrounding area continues to experience strong rental demand driven by a predominantly renter-occupied population and limited new multifamily supply, positioning this asset for long-term stability and growth
This is a true workforce housing play in a high-demand corridor—ideal for investors seeking a balance of yield, stability, and future upside. Whether held as a long-term cash-flow asset or repositioned to capture market rents, 474 S. Eastern Ave offers a clear path to value creation in a proven Los Angeles submarket.