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7.8 Cap 21-Unit Apartment 5022 W Washington Blvd 21 Unit Apartment Building $2,350,000 ($111,905/Unit) 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
|
$31.93
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$295,236
|
$31.93
|
| Taxes |
$29,375
|
$3.18
|
| Operating Expenses |
$82,201
|
$8.89
|
| Total Expenses |
$111,576
|
$12.07
|
| Net Operating Income |
$183,660
|
$19.86
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $295,236 |
| Annual Per SF | $31.93 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $295,236 |
| Annual Per SF | $31.93 |
| Taxes | |
|---|---|
| Annual | $29,375 |
| Annual Per SF | $3.18 |
| Operating Expenses | |
|---|---|
| Annual | $82,201 |
| Annual Per SF | $8.89 |
| Total Expenses | |
|---|---|
| Annual | $111,576 |
| Annual Per SF | $12.07 |
| Net Operating Income | |
|---|---|
| Annual | $183,660 |
| Annual Per SF | $19.86 |
Property Facts
| Price | $2,350,000 | Building Class | C |
| Price Per Unit | $111,905 | Lot Size | 0.24 AC |
| Sale Type | Investment | Building Size | 9,247 SF |
| Cap Rate | 7.82% | No. Stories | 2 |
| No. Units | 21 | Year Built | 1948 |
| Property Type | Multifamily | Parking Ratio | 1.3/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | LAC2-1VL-CPIO - Commercial C1.5 Uses; Retail w/ Limited Manufacturing, Service Stations and Garages, Retail Contr. Business, Churches, Schools, Auto Sales, R4 Uses | ||
| Price | $2,350,000 |
| Price Per Unit | $111,905 |
| Sale Type | Investment |
| Cap Rate | 7.82% |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 9,247 SF |
| No. Stories | 2 |
| Year Built | 1948 |
| Parking Ratio | 1.3/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LAC2-1VL-CPIO - Commercial C1.5 Uses; Retail w/ Limited Manufacturing, Service Stations and Garages, Retail Contr. Business, Churches, Schools, Auto Sales, R4 Uses |
Amenities
Unit Amenities
- Kitchen
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 16 | - | - |
| 1+1 | 5 | - | - |
Moderately walkable
70/100
Exceptionally drivable
100/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5062-004-012 | Total Assessment | $160,769 (2025) |
| Land Assessment | $87,002 (2025) | Annual Taxes | $29,375 ($3.18/SF) |
| Improvements Assessment | $73,767 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
5062-004-012
Land Assessment
$87,002 (2025)
Improvements Assessment
$73,767 (2025)
Total Assessment
$160,769 (2025)
Annual Taxes
$29,375 ($3.18/SF)
Tax Year
2026
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7.8 Cap 21-Unit Apartment | 5022 W Washington Blvd
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