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606 W 81st St 10 Unit Apartment Building $1,150,000 ($115,000/Unit) 7.06% Cap Rate Los Angeles, CA 90044
Investment Highlights
- 100% Occupied | Four 1-Bedroom/1-Bath Units & Six Studio Units
- Projected to Generate Approximately 7% Cash-on-Cash Return with 35% Down Payment*
- 4,160 SF Building Situated on a Large 9,313 SF Lot
- Exceptional Basis | Only $115,000 Per Unit & $276 Per Square Foot
- Single-Story Courtyard-Style Apartment Community with Rear Surface Parking
- Prime South LA (90044) Location with Strong Rental Demand and Convenient 110 Freeway Access
Executive Summary
The Harley Group at Lyon Stahl is pleased to present 606 W 81st Street, a 10-unit multifamily investment opportunity located in the highly active 90044 submarket of South Los Angeles. Offered at an attractive 7.06% current CAP rate and 8.21 GRM, the property delivers strong in-place cash flow with an exceptional basis of just $115,000 per unit and $276 per square foot. The property consists of four 1-Bedroom/1-Bath units and six Studio units, all currently occupied, providing investors with stable day-one income.
Situated on a large 9,313-square-foot lot, the property features a desirable single-story courtyard-style layout with surface parking in the rear. The 4,160-square-foot building features a highly rentable unit mix that appeals to a broad tenant base.
Located in one of South Los Angeles' most active multifamily investment submarkets, the property benefits from a large inventory of workforce housing, strong rental demand, and convenient access to the Harbor (110) Freeway. This is an exceptional opportunity to acquire a high-yield, income-producing asset with stable cash flow and long-term investment potential.
*Title records reflect 9 legal units. The property has operated as 10 units under current ownership, with City of Los Angeles rent control registration and fees paid for 10 units. Buyer to independently verify.*
Situated on a large 9,313-square-foot lot, the property features a desirable single-story courtyard-style layout with surface parking in the rear. The 4,160-square-foot building features a highly rentable unit mix that appeals to a broad tenant base.
Located in one of South Los Angeles' most active multifamily investment submarkets, the property benefits from a large inventory of workforce housing, strong rental demand, and convenient access to the Harbor (110) Freeway. This is an exceptional opportunity to acquire a high-yield, income-producing asset with stable cash flow and long-term investment potential.
*Title records reflect 9 legal units. The property has operated as 10 units under current ownership, with City of Los Angeles rent control registration and fees paid for 10 units. Buyer to independently verify.*
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$140,088
|
$30.85
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$5,604
|
$1.23
|
| Effective Gross Income |
$134,484
|
$29.62
|
| Taxes |
$14,867
|
$3.27
|
| Operating Expenses |
$38,430
|
$8.46
|
| Total Expenses |
$53,297
|
$11.74
|
| Net Operating Income |
$81,187
|
$17.88
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $140,088 |
| Annual Per SF | $30.85 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $5,604 |
| Annual Per SF | $1.23 |
| Effective Gross Income | |
|---|---|
| Annual | $134,484 |
| Annual Per SF | $29.62 |
| Taxes | |
|---|---|
| Annual | $14,867 |
| Annual Per SF | $3.27 |
| Operating Expenses | |
|---|---|
| Annual | $38,430 |
| Annual Per SF | $8.46 |
| Total Expenses | |
|---|---|
| Annual | $53,297 |
| Annual Per SF | $11.74 |
| Net Operating Income | |
|---|---|
| Annual | $81,187 |
| Annual Per SF | $17.88 |
Property Facts
| Price | $1,150,000 | Apartment Style | Low-Rise |
| Price Per Unit | $115,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 7.06% | Building Size | 4,160 SF |
| Gross Rent Multiplier | 8.21 | No. Stories | 2 |
| No. Units | 10 | Year Built | 1927 |
| Property Type | Multifamily | Parking Ratio | 0.96/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R4-1, Los Angeles | ||
| Price | $1,150,000 |
| Price Per Unit | $115,000 |
| Sale Type | Investment |
| Cap Rate | 7.06% |
| Gross Rent Multiplier | 8.21 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 4,160 SF |
| No. Stories | 2 |
| Year Built | 1927 |
| Parking Ratio | 0.96/1,000 SF |
| Zoning | R4-1, Los Angeles |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | $1,031 | 350 |
| 1+1 | 4 | $1,372 | 400 - 500 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Good public transit
60/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 6032-024-017 | Total Assessment | $994,383 |
| Land Assessment | $757,627 | Annual Taxes | $14,867 ($3.57/SF) |
| Improvements Assessment | $236,756 | Tax Year | 2025 |
Property Taxes
Parcel Number
6032-024-017
Land Assessment
$757,627
Improvements Assessment
$236,756
Total Assessment
$994,383
Annual Taxes
$14,867 ($3.57/SF)
Tax Year
2025
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606 W 81st St