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5606 S Figueroa St 16 Unit Apartment Building $1,995,000 ($124,688/Unit) 6.40% Cap Rate Los Angeles, CA 90037
Investment Highlights
- Separately Metered for Gas & Electricity
- Recently Painted Exterior Facade
- Priced Well Below Replacement Cost
- Value-Add: 30% Rental Upside
- Driving Distance to BMO Stadium
Executive Summary
5606 S Figueroa Street is a 16-unit apartment separately metered for gas and electricity in the South Los Angeles neighborhood of Los Angeles. Numerous capital improvements have been completed at the building over the years including a newly painted exterior facade, interior common area hallways and multiple interior unit improvements. The opportunity consists of thirteen (13) studio units and three (3) one-bedroom units. There is still approximately 30% rental upside that can be achieved as the units turnover.
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Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$231,818
|
$25.50
|
| Other Income |
$852
|
$0.09
|
| Vacancy Loss |
$6,955
|
$0.77
|
| Effective Gross Income |
$225,715
|
$24.83
|
| Taxes |
$23,940
|
$2.63
|
| Operating Expenses |
$74,103
|
$8.15
|
| Total Expenses |
$98,043
|
$10.79
|
| Net Operating Income |
$127,672
|
$14.05
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $231,818 |
| Annual Per SF | $25.50 |
| Other Income | |
|---|---|
| Annual | $852 |
| Annual Per SF | $0.09 |
| Vacancy Loss | |
|---|---|
| Annual | $6,955 |
| Annual Per SF | $0.77 |
| Effective Gross Income | |
|---|---|
| Annual | $225,715 |
| Annual Per SF | $24.83 |
| Taxes | |
|---|---|
| Annual | $23,940 |
| Annual Per SF | $2.63 |
| Operating Expenses | |
|---|---|
| Annual | $74,103 |
| Annual Per SF | $8.15 |
| Total Expenses | |
|---|---|
| Annual | $98,043 |
| Annual Per SF | $10.79 |
| Net Operating Income | |
|---|---|
| Annual | $127,672 |
| Annual Per SF | $14.05 |
Property Facts
| Price | $1,995,000 | Apartment Style | Low-Rise |
| Price Per Unit | $124,688 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 6.40% | Building Size | 9,090 SF |
| Gross Rent Multiplier | 8.61 | Average Occupancy | 87% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1927 |
| Property Subtype | Apartment | ||
| Zoning | C2, Los Angeles | ||
| Price | $1,995,000 |
| Price Per Unit | $124,688 |
| Sale Type | Investment |
| Cap Rate | 6.40% |
| Gross Rent Multiplier | 8.61 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 9,090 SF |
| Average Occupancy | 87% |
| No. Stories | 2 |
| Year Built | 1927 |
| Zoning | C2, Los Angeles |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 13 | $1,093 | 550 |
| 1+1 | 3 | $1,705 | 575 |
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Walk Score®
Very Walkable (76)
Property Taxes
| Parcel Number | 5001-036-003 | Total Assessment | $1,713,600 |
| Land Assessment | $693,600 | Annual Taxes | $23,940 ($2.63/SF) |
| Improvements Assessment | $1,020,000 | Tax Year | 2025 |
Property Taxes
Parcel Number
5001-036-003
Land Assessment
$693,600
Improvements Assessment
$1,020,000
Total Assessment
$1,713,600
Annual Taxes
$23,940 ($2.63/SF)
Tax Year
2025
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5606 S Figueroa St
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