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511 S Carondelet St 29 Unit Apartment Building $7,750,000 ($267,241/Unit) 6.04% Cap Rate Los Angeles, CA 90057
Executive Summary
511 S Carondelet St is a 29-unit, non-rent-controlled multifamily offering located in Los Angeles (90057). Built in 1991, the property features a durable unit mix of (4) studios, (17) 1-bedroom / 1-bath units, and (8) 2-bedroom / 2-bath units, supported by 48 on-site parking spaces. The offering provides a clear path to income growth through lease-up of two vacant units and the ability to capture mark-to-market rent increases across the rent roll — positioning the asset for long-term NOI expansion and stable performance at scale.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $7,750,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $267,241 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.27 AC |
| Cap Rate | 6.04% | Building Size | 27,284 SF |
| Gross Rent Multiplier | 10.57 | Average Occupancy | 93% |
| No. Units | 29 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1991 |
| Property Subtype | Apartment | Parking Ratio | 1.76/1,000 SF |
| Zoning | R4 | ||
| Price | $7,750,000 |
| Price Per Unit | $267,241 |
| Sale Type | Investment |
| Cap Rate | 6.04% |
| Gross Rent Multiplier | 10.57 |
| No. Units | 29 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.27 AC |
| Building Size | 27,284 SF |
| Average Occupancy | 93% |
| No. Stories | 4 |
| Year Built | 1991 |
| Parking Ratio | 1.76/1,000 SF |
| Zoning | R4 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Oven
- Range
- Intercom
Site Amenities
- Laundry Facilities
- Security System
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | $1,854 | 450 |
| 1+1 | 17 | $1,966 | 650 |
| 2+2 | 8 | $2,531 | 900 |
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Walk Score®
Walker's Paradise (95)
Transit Score®
Excellent Transit (84)
Property Taxes
| Parcel Number | 5155-029-002 | Improvements Assessment | $2,904,349 |
| Land Assessment | $2,581,643 | Total Assessment | $5,485,992 |
Property Taxes
Parcel Number
5155-029-002
Land Assessment
$2,581,643
Improvements Assessment
$2,904,349
Total Assessment
$5,485,992
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511 S Carondelet St
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