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5937-5957 Avalon Blvd 22 Unit Apartment Building $5,400,000 ($245,455/Unit) 8.03% Cap Rate Los Angeles, CA 90003
INVESTMENT HIGHLIGHTS
- PRICE REDUCED $595,000!
- 8% Cap Rate on Current Income
EXECUTIVE SUMMARY
PRICE HAS BEEN REDUCED BY $595,000 - 8% Cap Rate on Current Income
5937-5957 Avalon Blvd is a mixed-use property with one level of apartments over a level of street front retail and commercial constructed in 1920. The property totals 28,648 gross square footage and consists of (13) Studio/One-Bathroom unit, (9) One-Bedroom/One-Bathroom units, (5) Retail units and (3) Commercial units, overall totaling 764 square feet per unit. The property includes a small parking lot for approximately 13 cars that is leased from the adjacent property, located off of East 59th Place. Additionally, the property is located in a federal qualified opportunity zone.
Situated on a lot of over 16,000 square feet, the low density 1920’s construction property is the only large mixed-use property in the immediate area. The property is of wood frame and stucco construction. All units and commercial/retail tenants have separate gas and electric meters as well as individual hot water heaters. All commercial and retail leases are gross with the tenants only paying rent and utilities. The average retail lease is $2.17 per square feet gross and the industrial spaces are leased at an average of $1.52 per square feet gross. The seller has plans to convert one retail store (unit 5939) into two ADU units that would each be two bedroom apartments.
5937-5957 Avalon Blvd is a mixed-use property with one level of apartments over a level of street front retail and commercial constructed in 1920. The property totals 28,648 gross square footage and consists of (13) Studio/One-Bathroom unit, (9) One-Bedroom/One-Bathroom units, (5) Retail units and (3) Commercial units, overall totaling 764 square feet per unit. The property includes a small parking lot for approximately 13 cars that is leased from the adjacent property, located off of East 59th Place. Additionally, the property is located in a federal qualified opportunity zone.
Situated on a lot of over 16,000 square feet, the low density 1920’s construction property is the only large mixed-use property in the immediate area. The property is of wood frame and stucco construction. All units and commercial/retail tenants have separate gas and electric meters as well as individual hot water heaters. All commercial and retail leases are gross with the tenants only paying rent and utilities. The average retail lease is $2.17 per square feet gross and the industrial spaces are leased at an average of $1.52 per square feet gross. The seller has plans to convert one retail store (unit 5939) into two ADU units that would each be two bedroom apartments.
FINANCIAL SUMMARY (PRO FORMA - 2025) 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 |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) 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 | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $5,400,000 | Apartment Style | Low-Rise |
| Price Per Unit | $245,455 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.37 AC |
| Cap Rate | 8.03% | Building Size | 31,839 SF |
| Gross Rent Multiplier | 8.04 | No. Stories | 2 |
| No. Units | 22 | Year Built | 1920 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | CM - Commercial Manufacturing Wholesale, Storage, Clinics, Limited Manufacturing, Limited C2 Uses, R3 Uses | ||
| Price | $5,400,000 |
| Price Per Unit | $245,455 |
| Sale Type | Investment |
| Cap Rate | 8.03% |
| Gross Rent Multiplier | 8.04 |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.37 AC |
| Building Size | 31,839 SF |
| No. Stories | 2 |
| Year Built | 1920 |
| Opportunity Zone |
Yes |
| Zoning | CM - Commercial Manufacturing Wholesale, Storage, Clinics, Limited Manufacturing, Limited C2 Uses, R3 Uses |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
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 | $1,040 | 361 - 405 |
| 1+1 | 9 | $1,340 | 490 - 519 |
PROPERTY TAXES
| Parcel Number | 6006-032-028 | Total Assessment | $4,773,190 |
| Land Assessment | $1,422,285 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $3,350,905 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
6006-032-028
Land Assessment
$1,422,285
Improvements Assessment
$3,350,905
Total Assessment
$4,773,190
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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5937-5957 Avalon Blvd
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