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5623 Meridian St 14 Unit Apartment Building $3,500,000 ($250,000/Unit) 4.64% Cap Rate Los Angeles, CA 90042
INVESTMENT HIGHLIGHTS
- Seller financing is available at an incredible 3.80% interest-only rate, fixed until July 2032, with a loan balance of $2,175,000.
- The property is located in prime Highland Park, just steps from York Boulevard and one mile from Figueroa Street.
- Units are large and spacious, averaging 835 square feet each.
- Significant upside potential in rental income.
- Investors can achieve a 6.02% cash-on-cash return from day one.
- Desirable unit mix of eight 1-bedroom/1-bath units and six 2-bedroom/2-bath units.
EXECUTIVE SUMMARY
This prime Highland Park property offers incredible seller financing at 3.80% interest-only, fixed for five years, with a loan balance of $2,175,000. Featuring significant upside in rents, it delivers an attractive 6.02% cash-on-cash return from day one. Located just steps from York Boulevard and one mile from Figueroa Street, the property boasts large, spacious units averaging 835 square feet and a desirable unit mix of eight one-bedroom/one-bath and six two-bedroom/two-bath layouts, making it an exceptional investment opportunity.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $3,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $250,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.29 AC |
| Cap Rate | 4.64% | Building Size | 11,738 SF |
| Gross Rent Multiplier | 12.74 | Average Occupancy | 100% |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 1.02/1,000 SF |
| Zoning | LAR1 | ||
| Price | $3,500,000 |
| Price Per Unit | $250,000 |
| Sale Type | Investment |
| Cap Rate | 4.64% |
| Gross Rent Multiplier | 12.74 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 11,738 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.02/1,000 SF |
| Zoning | LAR1 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
| 2+2 | 6 | - | - |
1 1
Walk Score®
Very Walkable (88)
PROPERTY TAXES
| Parcel Number | 5485-009-029 | Improvements Assessment | $1,137,827 (2025) |
| Land Assessment | $2,588,560 (2025) | Total Assessment | $3,726,387 (2025) |
PROPERTY TAXES
Parcel Number
5485-009-029
Land Assessment
$2,588,560 (2025)
Improvements Assessment
$1,137,827 (2025)
Total Assessment
$3,726,387 (2025)
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5623 Meridian St
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