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5606 S Figueroa St 16 Unit Apartment Building $1,900,000 ($118,750/Unit) 6.83% Cap Rate Los Angeles, CA 90037
Investment Highlights
- Separately Metered for Gas & Electricity
- Recently Painted Exterior Facade
- Priced Well Below Replacement Cost
- Value-Add: 32% 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) two-bedroom units. There is still approximately 32% 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 |
$232,910
|
$25.62
|
| Other Income |
$852
|
$0.09
|
| Vacancy Loss |
$6,987
|
$0.77
|
| Effective Gross Income |
$226,775
|
$24.95
|
| Taxes |
$22,800
|
$2.51
|
| Operating Expenses |
$74,103
|
$8.15
|
| Total Expenses |
$96,903
|
$10.66
|
| Net Operating Income |
$129,872
|
$14.29
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $232,910 |
| Annual Per SF | $25.62 |
| Other Income | |
|---|---|
| Annual | $852 |
| Annual Per SF | $0.09 |
| Vacancy Loss | |
|---|---|
| Annual | $6,987 |
| Annual Per SF | $0.77 |
| Effective Gross Income | |
|---|---|
| Annual | $226,775 |
| Annual Per SF | $24.95 |
| Taxes | |
|---|---|
| Annual | $22,800 |
| Annual Per SF | $2.51 |
| Operating Expenses | |
|---|---|
| Annual | $74,103 |
| Annual Per SF | $8.15 |
| Total Expenses | |
|---|---|
| Annual | $96,903 |
| Annual Per SF | $10.66 |
| Net Operating Income | |
|---|---|
| Annual | $129,872 |
| Annual Per SF | $14.29 |
Property Facts
| Price | $1,900,000 | Apartment Style | Low-Rise |
| Price Per Unit | $118,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 6.83% | Building Size | 9,090 SF |
| Gross Rent Multiplier | 8.16 | Average Occupancy | 87% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1927 |
| Property Subtype | Apartment | ||
| Zoning | C2, Los Angeles | ||
| Price | $1,900,000 |
| Price Per Unit | $118,750 |
| Sale Type | Investment |
| Cap Rate | 6.83% |
| Gross Rent Multiplier | 8.16 |
| 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
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 13 | $1,093 | 550 |
| 2+1 | 3 | $1,735 | 575 |
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Fairly walkable
50/100
Exceptionally drivable
90/100
Good public transit
70/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 5001-036-003 | Total Assessment | $1,713,600 |
| Land Assessment | $693,600 | Annual Taxes | $22,800 ($2.51/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
$22,800 ($2.51/SF)
Tax Year
2025
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5606 S Figueroa St
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