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Adrmore Village 508 N Ardmore Ave 2 Unit Apartment Building $1,750,000 ($875,000/Unit) 6.16% Cap Rate Los Angeles, CA 90004
Investment Highlights
- Non-Rent Controlled apartments under Los Angeles City rent control.
- 2 UNITS WILL BE DELIVERED VACANT AT COE
- FEW MINUTES FROM LARCHMONT VILLAGE AND NETFLIX BUILDING.
Executive Summary
CAN YOU BELIEVE IT?? CURRENT COMMERCIAL INTEREST RATE IS ALL-TIME LOW @ 5.5%!! DON'T DELAY!!
AIR BNB OPERATORS WELCOME. CASH ON THE FIRST DAY. 2 UNITS WILL BE DELIVERED VACANT AT COE.
We are pleased to present for sale this true Value-add investment opportunity located in the East Hollywood, Koreatown area of Los Angeles. FEW MINUTES FROM LARCHMONT VILLAGE AND NETFLIX BUILDING. 508 North Ardmore Avenue consists of one three (3) Bedroom, Two (2) Bath plus Den Single Family Residence along with four 2 Bedrooms, 1 Bathroom units. The 4 units were built in 1987 and appear to be Non-Rent Controlled apartments under Los Angeles City rent control. The Three Bedroom House has been remodeled and has a private yard and partial copper plumbing. There are 5 parking spaces, on-site laundry, individual hot water heaters, Central Heating and Air Conditioning and Security Camera System in place. Plenty of rental upside. Two units are currently vacant. Building square feet is approximately 4,103 and sits on a lot size of approximately 8,250 square feet of land. Zoned as LAR3. The subject property is in close proximity to Downtown Los Angeles, Hollywood, Silver Lake, Echo Park and Korea town and conveniently located near the 101 Freeway.
DON'T MISS THIS ONE!!!
AIR BNB OPERATORS WELCOME. CASH ON THE FIRST DAY. 2 UNITS WILL BE DELIVERED VACANT AT COE.
We are pleased to present for sale this true Value-add investment opportunity located in the East Hollywood, Koreatown area of Los Angeles. FEW MINUTES FROM LARCHMONT VILLAGE AND NETFLIX BUILDING. 508 North Ardmore Avenue consists of one three (3) Bedroom, Two (2) Bath plus Den Single Family Residence along with four 2 Bedrooms, 1 Bathroom units. The 4 units were built in 1987 and appear to be Non-Rent Controlled apartments under Los Angeles City rent control. The Three Bedroom House has been remodeled and has a private yard and partial copper plumbing. There are 5 parking spaces, on-site laundry, individual hot water heaters, Central Heating and Air Conditioning and Security Camera System in place. Plenty of rental upside. Two units are currently vacant. Building square feet is approximately 4,103 and sits on a lot size of approximately 8,250 square feet of land. Zoned as LAR3. The subject property is in close proximity to Downtown Los Angeles, Hollywood, Silver Lake, Echo Park and Korea town and conveniently located near the 101 Freeway.
DON'T MISS THIS ONE!!!
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,750,000 | Apartment Style | Low-Rise |
| Price Per Unit | $875,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 6.16% | Building Size | 4,103 SF |
| Gross Rent Multiplier | 11.32 | Average Occupancy | 60% |
| No. Units | 2 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1916/1987 |
| Property Subtype | Apartment | Parking Ratio | 1.95/1,000 SF |
| Zoning | R3, Los Angeles | ||
| Price | $1,750,000 |
| Price Per Unit | $875,000 |
| Sale Type | Investment |
| Cap Rate | 6.16% |
| Gross Rent Multiplier | 11.32 |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 4,103 SF |
| Average Occupancy | 60% |
| No. Stories | 2 |
| Year Built/Renovated | 1916/1987 |
| Parking Ratio | 1.95/1,000 SF |
| Zoning | R3, Los Angeles |
Amenities
Unit Amenities
- Security System
- Yard
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $2,500 | 560 - 600 |
| 3+2 | 1 | $4,300 | 1,751 |
Very walkable
80/100
Moderately drivable
70/100
Good public transit
70/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 5520-012-015 | Improvements Assessment | $459,329 |
| Land Assessment | $1,388,928 | Total Assessment | $1,848,257 |
Property Taxes
Parcel Number
5520-012-015
Land Assessment
$1,388,928
Improvements Assessment
$459,329
Total Assessment
$1,848,257
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Adrmore Village | 508 N Ardmore Ave
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