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W 47th Street Apartments 526-534 W 47th St 19 Unit Apartment Building $3,695,000 ($194,474/Unit) 6.80% Cap Rate Los Angeles, CA 90037
INVESTMENT HIGHLIGHTS
- Minutes south of USC and BMO Soccer Stadium.
- Neighborhood is described as gentrifying.
- Close to shops, restaurants, 110-Freeway, and public transit.
EXECUTIVE SUMMARY
Less than $195,000 per unit an Actual Cap Rate of 6.8% and Actual GRM of 10.61. Pro-Forma Cap rate of 11.43% and GRM of 7.05. Well-Maintained 19-Unit Multifamily property on a Large Double Lot Approx. 15,464 sq. ft. lot located at 526-534 W. 47th St., Los Angeles, CA 90037. This offering includes two adjacent parcels: APNs 5018-027-015 and 5018-027-016. Many units have been fully remodeled and upgraded. Located just minutes south of USC, BMO Stadium, and near shops and restaurants. Situated in a rapidly gentrifying neighborhood with significant development potential. Potential to build affordable or low-income housing, (buyer to verify). Tremendous upside once units are turned. Four units may be delivered vacant at close of escrow. Convenient access to the 110 Freeway, public transits, and local amenities. No on-site manager required. Drive-by only, please do not disturb tenants. For further details, call or text the listing agent.
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$348,264
|
$29.13
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$10,448
|
$0.87
|
| Effective Gross Income |
$337,816
|
$28.26
|
| Taxes |
$44,888
|
$3.76
|
| Operating Expenses |
$44,981
|
$3.76
|
| Total Expenses |
$89,869
|
$7.52
|
| Net Operating Income |
$247,947
|
$20.74
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $348,264 |
| Annual Per SF | $29.13 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $10,448 |
| Annual Per SF | $0.87 |
| Effective Gross Income | |
|---|---|
| Annual | $337,816 |
| Annual Per SF | $28.26 |
| Taxes | |
|---|---|
| Annual | $44,888 |
| Annual Per SF | $3.76 |
| Operating Expenses | |
|---|---|
| Annual | $44,981 |
| Annual Per SF | $3.76 |
| Total Expenses | |
|---|---|
| Annual | $89,869 |
| Annual Per SF | $7.52 |
| Net Operating Income | |
|---|---|
| Annual | $247,947 |
| Annual Per SF | $20.74 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Tile Floors
- Kitchen
- Oven
- Range
- Tub/Shower
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 18 | - | 1 |
| 3+1 | 1 | - | 1 |
1 1
Walk Score®
Very Walkable (79)
Bike Score®
Very Bikeable (80)
PROPERTY TAXES
| Parcel Number | 5018-027-016 | Total Assessment | $1,422,281 (2025) |
| Land Assessment | $995,598 (2025) | Annual Taxes | $44,888 ($3.76/SF) |
| Improvements Assessment | $426,683 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
5018-027-016
Land Assessment
$995,598 (2025)
Improvements Assessment
$426,683 (2025)
Total Assessment
$1,422,281 (2025)
Annual Taxes
$44,888 ($3.76/SF)
Tax Year
2024
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W 47th Street Apartments | 526-534 W 47th St
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