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838 E 43rd St 838 E 43rd St 8 Unit Apartment Building $1,150,000 ($143,750/Unit) 6.48% Cap Rate Los Angeles, CA 90011
Investment Highlights
- 8-unit value-add multifamily investment
- Well-diversified unit mix of two 2-bedroom units, five 1-bedroom units, and one studio
Executive Summary
838 E 43rd Street is an 8-unit value-add multifamily investment located in a core South Los Angeles rental submarket. The property was built in 1914 and consists of a well-diversified unit mix of two 2-bedroom units, five 1-bedroom units, and one studio, totaling approximately 5,686 square feet on a 7,808 square foot lot. The asset is subject to rent control. The property offers immediate income growth through a combination of deeply under-market rents and one vacant unit, allowing a new owner to begin capturing upside from day one through lease-up and natural turnover. In-place rents average approximately $1,267 per unit compared to projected market rents of roughly $2,020 per unit, representing meaningful rent-to-market gaps across the unit mix. This offering represents an opportunity to acquire a small-scale multifamily asset with clear value-add execution, strong yield expansion, and downside protection through a below-market basis.
Property Facts
| Price | $1,150,000 | Apartment Style | Low-Rise |
| Price Per Unit | $143,750 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 6.48% | Building Size | 5,686 SF |
| Gross Rent Multiplier | 9.46 | No. Stories | 2 |
| No. Units | 8 | Year Built/Renovated | 1914/2022 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | LAR2 | ||
| Price | $1,150,000 |
| Price Per Unit | $143,750 |
| Sale Type | Investment |
| Cap Rate | 6.48% |
| Gross Rent Multiplier | 9.46 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.18 AC |
| Building Size | 5,686 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1914/2022 |
| Opportunity Zone |
Yes |
| Zoning | LAR2 |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,695 | 492 |
| 1+1 | 5 | $1,895 | 626 |
| 2+1 | 2 | $2,495 | 1,034 |
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Moderately walkable
70/100
Very drivable
80/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 5115-009-032 | Improvements Assessment | $423,894 |
| Land Assessment | $613,533 | Total Assessment | $1,037,427 |
Property Taxes
Parcel Number
5115-009-032
Land Assessment
$613,533
Improvements Assessment
$423,894
Total Assessment
$1,037,427
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