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2007-Constructed Townhome-Style Units 517 W 117th St 6 Unit Apartment Building $1,700,000 ($283,333/Unit) 6.44% Cap Rate Los Angeles, CA 90044
Investment Highlights
- Built in 2007 — significantly newer than the surrounding housing stock, offering lower maintenance and modern, functional unit layouts
- C2-2D-CPIO zoning with Tier 4 TOC — 15,311 SF lot may support 70+ units by right without ED1. Buyer to verify
- A six-unit configuration offering operational simplicity and stability from day one
- Six 2BD/1.5BA townhome-style units with in-unit W/D hookups and assigned, gated parking
- Located directly alongside the 105 Freeway — providing residents fast, direct connectivity to the 110, the South Bay, LAX, and Downtown LA
- Non-RSO units — subject to AB 1482 (5% + CPI annual increases), allowing rents to reach market within a few years.
Executive Summary
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale 517 West 117th Street, a six-unit apartment community located in South Los Angeles, alongside the 105 Freeway.
Built in 2007, the property is comprised of six two-bedroom / one-and-a-half-bath townhome-style units, each featuring in-unit washer/dryer hookups (one unit includes a washer/dryer) and assigned, gated parking. Situated on a generous 15,311-square-foot lot, the property is improved with a 5,208-square-foot building, leaving substantial excess land that may offer additional development potential. One option may be to add six ADUs, offering an opportunity to expand density, income, and long-term value.
Beyond the existing improvements, the property’s C2-2D-CPIO zoning and Tier 4 TOC designation present significant redevelopment potential. Based on the 15,311 SF lot, the property may support over 70 units by right — without the use of ED1 — offering a compelling long-term development opportunity.
517 West 117th Street offers investors the opportunity to acquire a newer construction multifamily asset with the potential to increase density in a well-located infill pocket of South Los Angeles. The property provides immediate access to the 105 Freeway and is conveniently situated near a wide range of retail amenities and daily services.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
Built in 2007, the property is comprised of six two-bedroom / one-and-a-half-bath townhome-style units, each featuring in-unit washer/dryer hookups (one unit includes a washer/dryer) and assigned, gated parking. Situated on a generous 15,311-square-foot lot, the property is improved with a 5,208-square-foot building, leaving substantial excess land that may offer additional development potential. One option may be to add six ADUs, offering an opportunity to expand density, income, and long-term value.
Beyond the existing improvements, the property’s C2-2D-CPIO zoning and Tier 4 TOC designation present significant redevelopment potential. Based on the 15,311 SF lot, the property may support over 70 units by right — without the use of ED1 — offering a compelling long-term development opportunity.
517 West 117th Street offers investors the opportunity to acquire a newer construction multifamily asset with the potential to increase density in a well-located infill pocket of South Los Angeles. The property provides immediate access to the 105 Freeway and is conveniently situated near a wide range of retail amenities and daily services.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
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Property Facts
| Price | $1,700,000 | Apartment Style | Low-Rise |
| Price Per Unit | $283,333 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.35 AC |
| Cap Rate | 6.44% | Building Size | 5,208 SF |
| Gross Rent Multiplier | 9.58 | No. Stories | 2 |
| No. Units | 6 | Year Built | 2007 |
| Property Type | Multifamily | Parking Ratio | 2.3/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | C2-2D-CPIO | ||
| Price | $1,700,000 |
| Price Per Unit | $283,333 |
| Sale Type | Investment |
| Cap Rate | 6.44% |
| Gross Rent Multiplier | 9.58 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.35 AC |
| Building Size | 5,208 SF |
| No. Stories | 2 |
| Year Built | 2007 |
| Parking Ratio | 2.3/1,000 SF |
| Zoning | C2-2D-CPIO |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer Hookup
- Wheelchair Accessible (Rooms)
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 6 | - | 850 |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Strong public transit
80/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 6088-013-024 | Improvements Assessment | $779,411 |
| Land Assessment | $568,913 | Total Assessment | $1,348,324 |
Property Taxes
Parcel Number
6088-013-024
Land Assessment
$568,913
Improvements Assessment
$779,411
Total Assessment
$1,348,324
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2007-Constructed Townhome-Style Units | 517 W 117th St
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