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8419-8425 S Western Ave 19 Unit Apartment Building $4,000,000 ($210,526/Unit) 6.58% Cap Rate Los Angeles, CA 90047
Investment Highlights
- 8%+ Return with Assumable Financing
- 15 Renovated Units and 2 New ADU Units
- Within Walking Distance from Metro
- 25% Rental Upside
- (16) 1Bed/1Bath & (3) 2Bed/1Bath Units
- 8 Minutes from SoFi Stadium in Inglewood
Executive Summary
Marcus & Millichap is pleased to announce the opportunity to purchase 19 multifamily units at 8419 and 8425 S. Western Avenue located in the Manchester Square neighborhood of South Los Angeles. With 15 out of 17 original units renovated and two new ADUs, this opportunity will not require any heavy lifting and as most of the work has already been completed. With the overwhelming need for affordable housing in the area, investors can realize an additional 25% upside as units turn over and can maximize on the increasing payments standards from HACLA and Section 8. This opportunity also offers an assumable loan of $2,422,000 with extremely attractive terms that will allow an investor to yield over an 8% cash-on-cash return.
Built in 1959 and 1960, the two adjacent properties are comprised of two-story structures that include a unit mix of sixteen 1bed/1bath units and three 2bed/1bath units. Of these units, two of the 1bed/1bath are newer ADUs with split system HVAC. The properties provide tenants with twelve parking spaces that include a combination of tuck-under and open spaces at the rear and 84th Place side of the property. There is no landscaping, and all units are individually metered for gas and electricity. Seismic retrofitting has already been completed and 8425 S. Western has received electrical upgrades. Plumbing upgrades have been completed as units have been renovated.
Located east of Western and north of Manchester, 8419 and 8425 S Western is located on one of the main thoroughfares in the city of Los Angeles. Residents of this property are within a short distance to multiple bus stops located on Manchester and St. Andrews Recreation Center. This opportunity is located 2 miles east, or an 8-minute car drive, from The Forum, Sofi Stadium, YouTube Theater, Hollywood Park Casino, and many more restaurants, retail, and places of business located in Inglewood between Century Blvd and Manchester. The property is within a short distance to the 110 Freeway allowing tenants who are commuters with ease of access throughout the city of Los Angeles.
Built in 1959 and 1960, the two adjacent properties are comprised of two-story structures that include a unit mix of sixteen 1bed/1bath units and three 2bed/1bath units. Of these units, two of the 1bed/1bath are newer ADUs with split system HVAC. The properties provide tenants with twelve parking spaces that include a combination of tuck-under and open spaces at the rear and 84th Place side of the property. There is no landscaping, and all units are individually metered for gas and electricity. Seismic retrofitting has already been completed and 8425 S. Western has received electrical upgrades. Plumbing upgrades have been completed as units have been renovated.
Located east of Western and north of Manchester, 8419 and 8425 S Western is located on one of the main thoroughfares in the city of Los Angeles. Residents of this property are within a short distance to multiple bus stops located on Manchester and St. Andrews Recreation Center. This opportunity is located 2 miles east, or an 8-minute car drive, from The Forum, Sofi Stadium, YouTube Theater, Hollywood Park Casino, and many more restaurants, retail, and places of business located in Inglewood between Century Blvd and Manchester. The property is within a short distance to the 110 Freeway allowing tenants who are commuters with ease of access throughout the city of Los Angeles.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,000,000 | Apartment Style | Low-Rise |
| Price Per Unit | $210,526 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Cap Rate | 6.58% | Building Size | 12,137 SF |
| Gross Rent Multiplier | 9.76 | Average Occupancy | 99% |
| No. Units | 19 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1959 |
| Property Subtype | Apartment | Parking Ratio | 0.99/1,000 SF |
| Zoning | LAC2 | ||
| Price | $4,000,000 |
| Price Per Unit | $210,526 |
| Sale Type | Investment |
| Cap Rate | 6.58% |
| Gross Rent Multiplier | 9.76 |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 12,137 SF |
| Average Occupancy | 99% |
| No. Stories | 2 |
| Year Built | 1959 |
| Parking Ratio | 0.99/1,000 SF |
| Zoning | LAC2 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | - |
| 2+1 | 3 | - | - |
1 1
Walk Score®
Very Walkable (87)
Property Taxes
| Parcel Numbers | Total Assessment | $3,112,290 | |
| Land Assessment | $2,007,930 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,104,360 | Tax Year | 2025 |
Property Taxes
Parcel Numbers
Land Assessment
$2,007,930
Improvements Assessment
$1,104,360
Total Assessment
$3,112,290
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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8419-8425 S Western Ave
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