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7050 Waring Ave 8 Unit Apartment Building $2,895,000 ($361,875/Unit) 6.07% Cap Rate Los Angeles, CA 90038
Investment Highlights
- Multi-family residential property located in the highly desirable La Brea/Hollywood neighborhood of Los Angeles
- Two-story building with onsite parking layout that includes 15 covered parking spaces
- Located minutes from Melrose Avenue, The Grove, West Hollywood, and Sunset Boulevard
- Approximately 8,158 SF site, zoned LAR3, offering density for potential future redevelopment under Los Angeles zoning regulations
- Delivered free of tenant relocation or RSO implications common in rent-controlled markets
Executive Summary
7050 Waring Ave, a charming 8-unit apartment
building located in the highly desirable La Brea neighborhood of Los Angeles, California. Built in
1966, the property consists of (4) two-bedroom + two-bathroom units and (4) three-bedroom + two-
bathroom units. The building is 9,728 gross square feet and sits on a 8,157 square foot lot.
Nestled in the heart of the La Brea area, 7050 Waring Ave offers residents a vibrant Los Angeles lifestyle
surrounded by renowned dining, shopping, and cultural destinations. Just minutes from Melrose
Avenue and The Grove, this property places tenants in one of LA’s most dynamic and centrally
located neighborhoods.
With a Walk Score of 96, residents enjoy easy access to trendy cafés, popular restaurants, boutique
shopping, and nightlife hot spots, as well as nearby destinations like Griffith Park and Sunset Boulevard.
7050 Waring Ave also presents a compelling value-add investment opportunity, offering both an
exceptional location and notable rental upside. The property currently delivers an initial CAP rate of
6.07%, with the potential to reach a 7.70% CAP rate upon unit turnover.
building located in the highly desirable La Brea neighborhood of Los Angeles, California. Built in
1966, the property consists of (4) two-bedroom + two-bathroom units and (4) three-bedroom + two-
bathroom units. The building is 9,728 gross square feet and sits on a 8,157 square foot lot.
Nestled in the heart of the La Brea area, 7050 Waring Ave offers residents a vibrant Los Angeles lifestyle
surrounded by renowned dining, shopping, and cultural destinations. Just minutes from Melrose
Avenue and The Grove, this property places tenants in one of LA’s most dynamic and centrally
located neighborhoods.
With a Walk Score of 96, residents enjoy easy access to trendy cafés, popular restaurants, boutique
shopping, and nightlife hot spots, as well as nearby destinations like Griffith Park and Sunset Boulevard.
7050 Waring Ave also presents a compelling value-add investment opportunity, offering both an
exceptional location and notable rental upside. The property currently delivers an initial CAP rate of
6.07%, with the potential to reach a 7.70% CAP rate upon unit turnover.
Property Facts
| Price | $2,895,000 | Property Subtype | Apartment |
| Price Per Unit | $361,875 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 6.07% | Building Size | 9,728 SF |
| Gross Rent Multiplier | 10.45 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1966 |
| Property Type | Multifamily | ||
| Zoning | R3 - Restricted Density Multiple Dwelling | ||
| Price | $2,895,000 |
| Price Per Unit | $361,875 |
| Sale Type | Investment |
| Cap Rate | 6.07% |
| Gross Rent Multiplier | 10.45 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 9,728 SF |
| No. Stories | 2 |
| Year Built | 1966 |
| Zoning | R3 - Restricted Density Multiple Dwelling |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 4 | - | - |
| 3+2 | 4 | - | - |
1 1
Very walkable
80/100
Moderately drivable
60/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5525-008-025 | Improvements Assessment | $1,562,097 |
| Land Assessment | $2,122,416 | Total Assessment | $3,684,513 |
Property Taxes
Parcel Number
5525-008-025
Land Assessment
$2,122,416
Improvements Assessment
$1,562,097
Total Assessment
$3,684,513
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7050 Waring Ave