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5614 W Adams Blvd 7 Unit Apartment Building $1,795,000 ($256,429/Unit) 6.52% Cap Rate Los Angeles, CA 90016
Investment Highlights
- Priced to Sell — Reduced to $1,795,000 Just $256,429/unit and $356.99/SF — well below the comp set ($316K/unit,$405/SF)
- Two Units Renovated in 2024 (Permitted) New double-pane windows, flooring, kitchen cabinetry & appliances, in-unitwasher/dryer, and mini-split HVAC.
- Efficient All-2BR Mix Seven 2BR/1BA units (±715 SF) — the deepest, most resilient renter pool in the WestAdams submarket.
- ~16% Mark-to-Market Upside In-place rents average $2,153 vs. ±$2,500 on renovated units; NOI grows from$117,065 to $143,959 (+23%) through turnover.
- Turnkey Value-Add Vacancy One vacant unit taken to the studs, passed rough MEP, and pre-fit for W/D,dishwasher, range, hood, fridge & mini-split.
- Major Capital Improvements Since 2022 - New roof (2022), backflow preventer (2023), central plumbing (2023), landscaping /paint / re-stucco (2024).
Executive Summary
The LAAA Team of Marcus & Millichap is pleased to present 5614 W Adams Boulevard, a renovated seven-unit multifamily investment in one of Los Angeles’ fastest-growingneighborhoods. Built in 1961 and subject to the City of Los Angeles RSO, the Property features a desirable all-two-bedroom mix — seven 2BR / 1BA units averaging approximately715 square feet.
Ownership has made substantial capital improvements since 2022, including a new roof (2022), backflow water-preventer (2023), major central plumbing upgrades (late 2023), andlandscaping, exterior painting and re-stuccoing (2024). Two units were fully remodeled in 2024 with permits — new double-pane windows, flooring, kitchen cabinetry andappliances, in-unit washer/dryer, and mini-split HVAC. A completed soft-story seismic retrofit carries a 2019 Certificate of Compliance.
Two units are currently vacant — one taken to the studs and passed rough mechanical, electrical and plumbing (MEP) inspection, pre-fit for a washer/dryer, dishwasher, range,hood, refrigerator and mini-split — letting a buyer close up the walls and finish to their own spec. In-place rents average approximately $2,153, meaningfully below the ±$2,500achieved on renovated units, for clear mark-to-market upside. Zoned C2-1VL-CPIO in a Tier 2 TOC and High Quality Transit Corridor, the lot may support one or more detachedADUs — additional income and density upside without complex entitlements.
Ownership has made substantial capital improvements since 2022, including a new roof (2022), backflow water-preventer (2023), major central plumbing upgrades (late 2023), andlandscaping, exterior painting and re-stuccoing (2024). Two units were fully remodeled in 2024 with permits — new double-pane windows, flooring, kitchen cabinetry andappliances, in-unit washer/dryer, and mini-split HVAC. A completed soft-story seismic retrofit carries a 2019 Certificate of Compliance.
Two units are currently vacant — one taken to the studs and passed rough mechanical, electrical and plumbing (MEP) inspection, pre-fit for a washer/dryer, dishwasher, range,hood, refrigerator and mini-split — letting a buyer close up the walls and finish to their own spec. In-place rents average approximately $2,153, meaningfully below the ±$2,500achieved on renovated units, for clear mark-to-market upside. Zoned C2-1VL-CPIO in a Tier 2 TOC and High Quality Transit Corridor, the lot may support one or more detachedADUs — additional income and density upside without complex entitlements.
Property Facts
| Price | $1,795,000 | Apartment Style | Low-Rise |
| Price Per Unit | $256,429 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 6.52% | Building Size | 5,028 SF |
| Gross Rent Multiplier | 9.93 | No. Stories | 2 |
| No. Units | 7 | Year Built/Renovated | 1961/2023 |
| Property Type | Multifamily | Parking Ratio | 1.39/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | C2-1VL-CPIO - Commercial | ||
| Price | $1,795,000 |
| Price Per Unit | $256,429 |
| Sale Type | Investment |
| Cap Rate | 6.52% |
| Gross Rent Multiplier | 9.93 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 5,028 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1961/2023 |
| Parking Ratio | 1.39/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | C2-1VL-CPIO - Commercial |
Amenities
Unit Amenities
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Yard
- Window Coverings
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 7 | - | 718 |
1 1
Moderately walkable
70/100
Exceptionally drivable
100/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 5048-029-020 | Improvements Assessment | $689,785 |
| Land Assessment | $1,538,751 | Total Assessment | $2,228,536 |
Property Taxes
Parcel Number
5048-029-020
Land Assessment
$1,538,751
Improvements Assessment
$689,785
Total Assessment
$2,228,536
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5614 W Adams Blvd
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