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5115 Clinton St 7 Unit Apartment Building $2,575,000 ($367,857/Unit) 5.84% Cap Rate Los Angeles, CA 90004
INVESTMENT HIGHLIGHTS
- 7 Unit Professionally Managed Trophy Asset Located In The Heart of Highly Desirable Larchmont & 2 Blocks From Paramount Studios.
- Brand New Electrical Service (2024), New Roof (2023), EQ Retrofit Completed (2023) & 100% Copper Plumbing.
- Separtely Metered For Gas & Electricity, and Tenants Pay RUBS For Water, Sewer & Trash.
- Fully Restored & Turn Key Building - All Units 100% Remodeled & Getting Market Rents.
- Gated, Reserved & On-Site Parking For All 7 Units.
- (4) Large 2 Bed/1.5 Bath Two Story Townhomes, (1) 1 Bed/1 Bath & (2) Large Studio Units.
EXECUTIVE SUMMARY
HUGE PRICE ADJUSTMENT! BRING ALL OFFERS! 7 unit professionally managed trophy asset located in the heart of highly desirable Larchmont. Just 2 blocks from Paramount
Studios, and less than half a mile to Hancock Park and Wilshire Country Club! 5.94% cap rate on current rents and T12 expenses (April 2024 to April 2025) + new tax rate and assessments! Fully restored and turn-key building that will run with low maintenance/repairs and upkeep while having in-place market rate tenants on Day 1. All units were fully remodeled and installed brand new bathrooms, kitchens, AC units, in-unit washer & dryers, appliances, flooring, countertops, cabinets, shower tiling, light fixtures, windows, doors & molding, paint, vanities and much more! Great unit mix of: (4) Large 2 Bed/1.5 Bath Two Story Townhomes, (1) 1 Bed/1 Bath, & (2) Studios. All units have reserved on-site parking in the back which is high value for a thinly parked neighborhood. The entire electrical service (main panel, meters and subpanels) was replaced in 2024 and done with permits. New roof installed in 2023, and the building has 100% copper plumbing throughout. EQ retrofit completed in 2023, and all gas meters have EQ shut off valves installed already. Separately metered for gas & electricity, and all units are on RUBS for water, sewer and trash for utility reimbursements to help keep operating costs down and NOI high for great cash flow. Exterior of building received all new paint, new landscaping, new fencing, new lighting, and more!
Studios, and less than half a mile to Hancock Park and Wilshire Country Club! 5.94% cap rate on current rents and T12 expenses (April 2024 to April 2025) + new tax rate and assessments! Fully restored and turn-key building that will run with low maintenance/repairs and upkeep while having in-place market rate tenants on Day 1. All units were fully remodeled and installed brand new bathrooms, kitchens, AC units, in-unit washer & dryers, appliances, flooring, countertops, cabinets, shower tiling, light fixtures, windows, doors & molding, paint, vanities and much more! Great unit mix of: (4) Large 2 Bed/1.5 Bath Two Story Townhomes, (1) 1 Bed/1 Bath, & (2) Studios. All units have reserved on-site parking in the back which is high value for a thinly parked neighborhood. The entire electrical service (main panel, meters and subpanels) was replaced in 2024 and done with permits. New roof installed in 2023, and the building has 100% copper plumbing throughout. EQ retrofit completed in 2023, and all gas meters have EQ shut off valves installed already. Separately metered for gas & electricity, and all units are on RUBS for water, sewer and trash for utility reimbursements to help keep operating costs down and NOI high for great cash flow. Exterior of building received all new paint, new landscaping, new fencing, new lighting, and more!
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$224,346
|
$41.60
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$6,730
|
$1.25
|
| Effective Gross Income |
$217,616
|
$40.35
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$67,319
|
$12.48
|
| Net Operating Income |
$150,297
|
$27.87
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $224,346 |
| Annual Per SF | $41.60 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $6,730 |
| Annual Per SF | $1.25 |
| Effective Gross Income | |
|---|---|
| Annual | $217,616 |
| Annual Per SF | $40.35 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $67,319 |
| Annual Per SF | $12.48 |
| Net Operating Income | |
|---|---|
| Annual | $150,297 |
| Annual Per SF | $27.87 |
PROPERTY FACTS
| Price | $2,575,000 | Apartment Style | Low-Rise |
| Price Per Unit | $367,857 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 5.84% | Building Size | 5,393 SF |
| Gross Rent Multiplier | 11.4 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1962/2023 |
| Property Subtype | Apartment | Parking Ratio | 1.3/1,000 SF |
| Zoning | R3 - Multiple Dwelling | ||
| Price | $2,575,000 |
| Price Per Unit | $367,857 |
| Sale Type | Investment |
| Cap Rate | 5.84% |
| Gross Rent Multiplier | 11.4 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 5,393 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1962/2023 |
| Parking Ratio | 1.3/1,000 SF |
| Zoning | R3 - Multiple Dwelling |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- Fenced Lot
- Laundry Facilities
- Gated
- Storage Space
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 2 | - | - |
| 2+1.5 | 4 | - | - |
1 1
Walk Score®
Walker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 5522-006-009 | Improvements Assessment | $312,120 (2025) |
| Land Assessment | $1,248,480 (2025) | Total Assessment | $1,560,600 (2025) |
PROPERTY TAXES
Parcel Number
5522-006-009
Land Assessment
$1,248,480 (2025)
Improvements Assessment
$312,120 (2025)
Total Assessment
$1,560,600 (2025)
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5115 Clinton St
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