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5 Units to be Delivered Empty COE 538 W 82nd St 9 Unit Apartment Building $1,650,000 ($183,333/Unit) 6.88% Cap Rate Los Angeles, CA 90044
Investment Highlights
- 5 Units To Be Delivered Vacant at Close of Escrow
- :Pro-Forma Does NOT Include - Room Laundry Income Potential
- Market Rent Assumptions $2,100 { 2Bd +1 Ba} & $1,950 { 1 Bd + 1Ba}
- Immediate Upside on Rent Controlled Units
Executive Summary
Tremendous Upside Opportunity with 5 Units to be delivered Vacant at the Close of Escrow. Excellent Unit Mix (7) 2 Bedrooms and 1 Bath and (2) 1 Bedrooms and 1 Bath.
Currently NOI is $82,554, 5.0% Cap Rate, and 13.99 GRM.
Pro-form with realistic Market Rents with 5 Vacant Units (#1, #2, #3, #5, #7) at Close of Escrow: NOI $113,484, 6.88% Cap Rate and 9.87 GRM
Currently NOI is $82,554, 5.0% Cap Rate, and 13.99 GRM.
Pro-form with realistic Market Rents with 5 Vacant Units (#1, #2, #3, #5, #7) at Close of Escrow: NOI $113,484, 6.88% Cap Rate and 9.87 GRM
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$167,134
|
$22.02
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$5,014
|
$0.66
|
| Effective Gross Income |
$162,120
|
$21.36
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$48,636
|
$6.41
|
| Net Operating Income |
$113,484
|
$14.95
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $167,134 |
| Annual Per SF | $22.02 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $5,014 |
| Annual Per SF | $0.66 |
| Effective Gross Income | |
|---|---|
| Annual | $162,120 |
| Annual Per SF | $21.36 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $48,636 |
| Annual Per SF | $6.41 |
| Net Operating Income | |
|---|---|
| Annual | $113,484 |
| Annual Per SF | $14.95 |
Property Facts
| Price | $1,650,000 | Apartment Style | Low-Rise |
| Price Per Unit | $183,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 6.88% | Building Size | 7,591 SF |
| Sale Condition | High Vacancy Property | Average Occupancy | 44% |
| Gross Rent Multiplier | 9.87 | No. Stories | 2 |
| No. Units | 9 | Year Built | 1962 |
| Property Type | Multifamily | Parking Ratio | 1.19/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | LAR3 - LAR3 | ||
| Price | $1,650,000 |
| Price Per Unit | $183,333 |
| Sale Type | Investment |
| Cap Rate | 6.88% |
| Sale Condition | High Vacancy Property |
| Gross Rent Multiplier | 9.87 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 7,591 SF |
| Average Occupancy | 44% |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 1.19/1,000 SF |
| Zoning | LAR3 - LAR3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 7 | $2,125 | 800 - 825 |
| 1+1 | 2 | $1,925 | 650 - 725 |
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Property Taxes
| Parcel Number | 6032-021-020 | Improvements Assessment | $212,241 (2025) |
| Land Assessment | $1,358,346 (2025) | Total Assessment | $1,570,587 (2025) |
Property Taxes
Parcel Number
6032-021-020
Land Assessment
$1,358,346 (2025)
Improvements Assessment
$212,241 (2025)
Total Assessment
$1,570,587 (2025)
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5 Units to be Delivered Empty COE | 538 W 82nd St
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