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5150 Ithaca Ave 5158 Unit Apartment Building $1,450,000 ($281/Unit) 5.70% Cap Rate Los Angeles, CA 90032
INVESTMENT HIGHLIGHTS
- Open-Concept Kitchens – Outfitted with stainless steel appliances, sleek quartz countertops, farmhouse-style sinks, and custom cabinetry. Subway tile
- Luxury Bathrooms – Floor-to-ceiling matte-black tile, rainfall showerheads, floating vanities, and backlit LED mirrors enhance the contemporary elegan
- Ample parking and storage within the garage structure.
- Spacious Living Areas – Light-toned wood flooring complements the neutral color palette, creating a bright, inviting atmosphere.
- Serene Bedrooms – Large windows provide abundant natural light, complemented by custom built-in closets and recessed lighting. New mini-split
- Modern Exterior & Architectural Appeal Striking black corrugated metal façade with natural wood eaves, creating an industrial-modern aesthetic.
EXECUTIVE SUMMARY
Investment Highlights:
Fully remodeled, turn-key property with a modern, high-end aesthetic.
Four spacious units, including a newly constructed ADU with private access.
Exceptional rental upside potential with a projected 5.51% Cap Rate post-rent increases.
High-demand location near Cal State LA and major LA destinations.
Ideal for both long-term investors and owner-occupants seeking strong cash flow.
Fully remodeled, turn-key property with a modern, high-end aesthetic.
Four spacious units, including a newly constructed ADU with private access.
Exceptional rental upside potential with a projected 5.51% Cap Rate post-rent increases.
High-demand location near Cal State LA and major LA destinations.
Ideal for both long-term investors and owner-occupants seeking strong cash flow.
DATA ROOM Click Here to Access
- Offering Memorandum
- Title and Insurance
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$132,000
|
$33.46
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$132,000
|
$33.46
|
| Taxes |
$10,578
|
$2.68
|
| Operating Expenses |
$46,000
|
$11.66
|
| Total Expenses |
$56,578
|
$14.34
|
| Net Operating Income |
$75,422
|
$19.12
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $132,000 |
| Annual Per SF | $33.46 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $132,000 |
| Annual Per SF | $33.46 |
| Taxes | |
|---|---|
| Annual | $10,578 |
| Annual Per SF | $2.68 |
| Operating Expenses | |
|---|---|
| Annual | $46,000 |
| Annual Per SF | $11.66 |
| Total Expenses | |
|---|---|
| Annual | $56,578 |
| Annual Per SF | $14.34 |
| Net Operating Income | |
|---|---|
| Annual | $75,422 |
| Annual Per SF | $19.12 |
PROPERTY FACTS
| Price | $1,450,000 | Apartment Style | Low-Rise |
| Price Per Unit | $281 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 5.70% | Building Size | 3,945 SF |
| Gross Rent Multiplier | 15.4 | Average Occupancy | 50% |
| No. Units | 5158 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1988 |
| Property Subtype | Apartment | ||
| Zoning | LARD1.5 - Restricted Density Multiple Dwelling One-Family Dwellings, Two-Family Dwellings, Apartment Houses, Multiple Dwellings, Home Occupations | ||
| Price | $1,450,000 |
| Price Per Unit | $281 |
| Sale Type | Investment |
| Cap Rate | 5.70% |
| Gross Rent Multiplier | 15.4 |
| No. Units | 5158 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.11 AC |
| Building Size | 3,945 SF |
| Average Occupancy | 50% |
| No. Stories | 2 |
| Year Built | 1988 |
| Zoning | LARD1.5 - Restricted Density Multiple Dwelling One-Family Dwellings, Two-Family Dwellings, Apartment Houses, Multiple Dwellings, Home Occupations |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Kitchen
- Granite Countertops
- Refrigerator
- Stainless Steel Appliances
- Tub/Shower
- Freezer
- Linen Closet
- Patio
- Porch
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 1 | $1,609 | 750 |
| 2+2 | 5157 | $1,928 | 700 - 750 |
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5150 Ithaca Ave
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