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605 W 41st St 4 Unit Apartment Building $995,000 ($248,750/Unit) 5.53% Cap Rate Los Angeles, CA 90037
INVESTMENT HIGHLIGHTS
- Fourplex Located a Half-Mile from USC’s Campus and 2 Blocks from BMO Stadium & L.A. Memorial Coliseum
- Just a Few Blocks from Exposition Park, USC Village, Lucas Museum of Narrative Arts, BMO Stadium, Natural History Museum and California Science Center
- Tenants Pay All Trash, Electricity and Gas Expenses | Four Garages | Large 6,751-SF Lot | Qualifies for Attractive Residential Financing
- Outstanding Owner-User Opportunity - Renovated 1-Bedroom Unit Delivered Vacant with Washer and Dryer
- 5.53% Current Cap Rate & 12.41 Current GRM | 7.05% Pro-Forma Cap Rate & 10.39 Pro-Forma GRM
- Desirable Opportunity to Add ADUs at Rear Parking Area | Close Proximity to Expo Park/USC Transit Line and Downtown Los Angeles
EXECUTIVE SUMMARY
ASSET
Fourplex apartment located just a half-mile from USC and 2 blocks from BMO Stadium and L.A. Memorial Coliseum. The asset consists of (4) 1-bedroom/1-bathroom units. One of the units is vacant and has been renovated which presents a desirable owner-user opportunity. The tenants pay all trash, electricity and gas expenses. The landlord is only responsible for the water expense. The property contains four garages and is situated on a large 6,751-SF, which provides potential to add ADUs at the rear of the property.
LOCATION
605 W. 41st Street is located adjacent to USC and the Coliseum. It just a few blocks from Exposition Park, USC Village, Lucas Museum of Narrative Arts, BMO Stadium, Natural History Museum and California Science Center. Furthermore, the property is located within close proximity to Downtown Los Angeles and to the Expo Line/USC Station which provides tenants with convenient access to public transit.
FINANCIALS
This 3,828-SF asset contains stable-in place rents as well as legitimate rental upside. The property has a current cap rate of 5.53% and a current GRM of 12.41. The asset also presents rental upside with a pro-forma cap rate of 7.05% and pro-form GRM of 10.39. Furthermore, the property qualifies for attractive residential financing.
Please contact Allen Gholian at (310) 666-3384 or allen@shieldcre.com if you have any questions.
Fourplex apartment located just a half-mile from USC and 2 blocks from BMO Stadium and L.A. Memorial Coliseum. The asset consists of (4) 1-bedroom/1-bathroom units. One of the units is vacant and has been renovated which presents a desirable owner-user opportunity. The tenants pay all trash, electricity and gas expenses. The landlord is only responsible for the water expense. The property contains four garages and is situated on a large 6,751-SF, which provides potential to add ADUs at the rear of the property.
LOCATION
605 W. 41st Street is located adjacent to USC and the Coliseum. It just a few blocks from Exposition Park, USC Village, Lucas Museum of Narrative Arts, BMO Stadium, Natural History Museum and California Science Center. Furthermore, the property is located within close proximity to Downtown Los Angeles and to the Expo Line/USC Station which provides tenants with convenient access to public transit.
FINANCIALS
This 3,828-SF asset contains stable-in place rents as well as legitimate rental upside. The property has a current cap rate of 5.53% and a current GRM of 12.41. The asset also presents rental upside with a pro-forma cap rate of 7.05% and pro-form GRM of 10.39. Furthermore, the property qualifies for attractive residential financing.
Please contact Allen Gholian at (310) 666-3384 or allen@shieldcre.com if you have any questions.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$80,160
|
$19.84
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,404
|
$0.60
|
| Effective Gross Income |
$77,756
|
$19.25
|
| Taxes |
$12,438
|
$3.08
|
| Operating Expenses |
$10,343
|
$2.56
|
| Total Expenses |
$22,781
|
$5.64
|
| Net Operating Income |
$54,975
|
$13.61
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $80,160 |
| Annual Per SF | $19.84 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $2,404 |
| Annual Per SF | $0.60 |
| Effective Gross Income | |
|---|---|
| Annual | $77,756 |
| Annual Per SF | $19.25 |
| Taxes | |
|---|---|
| Annual | $12,438 |
| Annual Per SF | $3.08 |
| Operating Expenses | |
|---|---|
| Annual | $10,343 |
| Annual Per SF | $2.56 |
| Total Expenses | |
|---|---|
| Annual | $22,781 |
| Annual Per SF | $5.64 |
| Net Operating Income | |
|---|---|
| Annual | $54,975 |
| Annual Per SF | $13.61 |
PROPERTY FACTS
| Price | $995,000 | Apartment Style | Low-Rise |
| Price Per Unit | $248,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 5.53% | Building Size | 4,040 SF |
| Gross Rent Multiplier | 12.41 | Average Occupancy | 75% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1921 |
| Property Subtype | Apartment | Parking Ratio | 1.04/1,000 SF |
| Zoning | LARD1.5 - Restricted Density Multiple Dwelling One-Family Dwellings, Two-Family Dwellings, Apartment Houses, Multiple Dwellings, Home Occupations | ||
| Price | $995,000 |
| Price Per Unit | $248,750 |
| Sale Type | Investment |
| Cap Rate | 5.53% |
| Gross Rent Multiplier | 12.41 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 4,040 SF |
| Average Occupancy | 75% |
| No. Stories | 2 |
| Year Built | 1921 |
| Parking Ratio | 1.04/1,000 SF |
| Zoning | LARD1.5 - Restricted Density Multiple Dwelling One-Family Dwellings, Two-Family Dwellings, Apartment Houses, Multiple Dwellings, Home Occupations |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | $1,670 | - |
1 1
Walk Score®
Very Walkable (86)
Transit Score®
Excellent Transit (73)
Bike Score®
Very Bikeable (83)
PROPERTY TAXES
| Parcel Number | 5019-023-022 | Total Assessment | $375,242 (2025) |
| Land Assessment | $262,633 (2025) | Annual Taxes | $12,438 ($3.08/SF) |
| Improvements Assessment | $112,609 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
5019-023-022
Land Assessment
$262,633 (2025)
Improvements Assessment
$112,609 (2025)
Total Assessment
$375,242 (2025)
Annual Taxes
$12,438 ($3.08/SF)
Tax Year
2024
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605 W 41st St
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