815 Green Ave 24 Unit Apartment Building $2,350,000 ($97,917/Unit) 7.63% Cap Rate Los Angeles, CA 90017

Kidder Mathews, as exclusive listing agent, is pleased to present 815 Green Avenue, a 24-unit apartment community located in Los Angeles' City West neighborhood, offered for sale for the first time in over 30 years.
THE ASSET
Offered for sale for the first time in over 30 years, 815 Green Ave is a charming 24-unit apartment community providing investors with an attractive combination of strong in-place cash flow and future value-add potential. The Property is offered at an attractive basis of approximately $98,000 per unit and $208 per square foot while delivering an impressive going-in cap rate of 7.63% and current GRM of 6.87.
Comprised of 18 large bachelor and 6 studio units, the Property offers classic art deco architecture, mature landscaping, and a secure living environment for residents. Additional amenities include on-site laundry facilities and six enclosed garage parking spaces located within a large detached garage structure at the rear of the Property.
The detached garage structure, comprised of three two-car garages, may present a compelling opportunity for future ADU development. The Property is master metered for gas and electricity and offers investors a rare opportunity to acquire a well-located asset with both strong day-one cash flow and long-term upside.
THE NEIGHBORHOOD
815 Green Ave is ideally situated on a quiet residential street in the City West neighborhood, one of Los Angeles' most centrally located and rapidly evolving rental submarkets. Residents enjoy convenient access to Downtown Los Angeles, Koreatown, Echo Park, Silver Lake, and numerous major employment centers throughout the region.
The Property is located within walking distance of LA Live, Crypto.com Arena, and the Los Angeles Convention Center, placing residents near some of Southern California's premier entertainment, dining, and employment destinations. The surrounding area continues to benefit from ongoing investment and redevelopment fueled by its proximity to Downtown Los Angeles and the expanding urban core.
The neighborhood's central location, strong transit connectivity, and close proximity to some of Los Angeles' most sought-after lifestyle destinations continue to drive robust rental demand. As a result, the area attracts a diverse tenant base seeking convenient access to employment, entertainment, and cultural amenities throughout Los Angeles.