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5022 W Washington Blvd - 7.8 Cap 21-Unit Apartment 21 Unit Apartment Building Offered at $2,350,000 at a 7.82% Cap Rate Los Angeles, CA 90016
Investment Highlights
- Value Add Multi-Family Investment
- $183,660 Pro Forma NOI | 7.8% Cap Rate | $106,818 Per Unit
- Available with Adjacent ±3,540 SF Commercial Building on ±10,669 SF of Land for $4,350,000
- 2-Story, 21-Unit Apartment With 11 Car Parking
- Prime Mid-City West Washington Blvd Location
Executive Summary
We are pleased to present a 21 unit multi-family property located at 5022 W. Washington Blvd in the highly desirable Mid-City Los Angeles submarket. Situated on a ±10,149 SF parcel with flexible C2 commercial zoning and Opportunity Zone designation, the property offers investors a rare value-add or redevelopment opportunity in one of Los Angeles’ strongest urban growth corridors. Originally constructed in 1948 as a motel but was converted to multifamily. The property consists of ±7,553 SF of improvements and
benefits from exceptional connectivity to Culver City, Downtown Los Angeles, USC, Koreatown, and the Westside. The property is strategically positioned along Washington Boulevard, a major east-west corridor experiencing ongoing redevelopment, increasing residential density, and expanding commercial activity. The combination of central location, Opportunity Zone tax advantages, and flexible zoning creates a compelling investment opportunity for hospitality operators, developers, and value-add investors. Note: Available with adjacent ±3,540 SF commercial building on ±10,669 SF of land for total of $4,350,000.
benefits from exceptional connectivity to Culver City, Downtown Los Angeles, USC, Koreatown, and the Westside. The property is strategically positioned along Washington Boulevard, a major east-west corridor experiencing ongoing redevelopment, increasing residential density, and expanding commercial activity. The combination of central location, Opportunity Zone tax advantages, and flexible zoning creates a compelling investment opportunity for hospitality operators, developers, and value-add investors. Note: Available with adjacent ±3,540 SF commercial building on ±10,669 SF of land for total of $4,350,000.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$295,236
|
$39.09
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$295,236
|
$39.09
|
| Taxes |
$29,375
|
$3.89
|
| Operating Expenses |
$82,201
|
$10.88
|
| Total Expenses |
$111,576
|
$14.77
|
| Net Operating Income |
$183,660
|
$24.32
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $295,236 |
| Annual Per SF | $39.09 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $295,236 |
| Annual Per SF | $39.09 |
| Taxes | |
|---|---|
| Annual | $29,375 |
| Annual Per SF | $3.89 |
| Operating Expenses | |
|---|---|
| Annual | $82,201 |
| Annual Per SF | $10.88 |
| Total Expenses | |
|---|---|
| Annual | $111,576 |
| Annual Per SF | $14.77 |
| Net Operating Income | |
|---|---|
| Annual | $183,660 |
| Annual Per SF | $24.32 |
Property Facts
| Price | $2,350,000 | Apartment Style | Low-Rise |
| Price Per Unit | $111,905 | Lot Size | 0.23 AC |
| Sale Type | Investment | Building Size | 7,553 SF |
| Cap Rate | 7.82% | No. Stories | 2 |
| No. Units | 21 | Year Built | 1948 |
| Property Type | Multifamily | Parking Ratio | 1.46/1,000 SF |
| Zoning | LAC2-1VL-CPIO | ||
| Price | $2,350,000 |
| Price Per Unit | $111,905 |
| Sale Type | Investment |
| Cap Rate | 7.82% |
| No. Units | 21 |
| Property Type | Multifamily |
| Apartment Style | Low-Rise |
| Lot Size | 0.23 AC |
| Building Size | 7,553 SF |
| No. Stories | 2 |
| Year Built | 1948 |
| Parking Ratio | 1.46/1,000 SF |
| Zoning | LAC2-1VL-CPIO |
Moderately walkable
70/100
Exceptionally drivable
100/100
Good public transit
70/100
Fairly bikeable
50/100
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5022 W Washington Blvd - 7.8 Cap 21-Unit Apartment
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