Log In/Sign Up
Your email has been sent.
844 W Martin Luther King Jr Blvd 24 Unit Apartment Building $3,300,000 ($137,500/Unit) 7.39% Cap Rate Los Angeles, CA 90037
INVESTMENT HIGHLIGHTS
- Opportunity to Buy 24 Units Near USC
- Electrical Panels Recently Replaced
- Priced at a 7.78 Gross Rent Multiplier
- Offered at a 7.39% CAP Rate
- Across the Street from the LA Coliseum
EXECUTIVE SUMMARY
844-846 W. Martin Luther King Junior Boulevard presents the opportunity to purchase two (2) contiguous 12-unit apartment buildings directly across the street from the LA Coliseum, home of the USC Trojans football games. The properties are conveniently located a short drive to the 110 Freeway and within walking distance to BMO Stadium which is the home of the LAFC soccer matches. The property boasts twenty-three (23) studio units and one (1) one-bedroom unit. Each unit is separately metered for electricity, and the exterior electrical panels were recently replaced on both buildings. The buildings are situated on a double lot of over 11,000 square feet of land zoned LAR3, which is suitable for future development.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$424,353
|
$29.49
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$4,244
|
$0.29
|
| Effective Gross Income |
$420,109
|
$29.19
|
| Taxes |
$39,600
|
$2.75
|
| Operating Expenses |
$136,627
|
$9.49
|
| Total Expenses |
$176,227
|
$12.25
|
| Net Operating Income |
$243,882
|
$16.95
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $424,353 |
| Annual Per SF | $29.49 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $4,244 |
| Annual Per SF | $0.29 |
| Effective Gross Income | |
|---|---|
| Annual | $420,109 |
| Annual Per SF | $29.19 |
| Taxes | |
|---|---|
| Annual | $39,600 |
| Annual Per SF | $2.75 |
| Operating Expenses | |
|---|---|
| Annual | $136,627 |
| Annual Per SF | $9.49 |
| Total Expenses | |
|---|---|
| Annual | $176,227 |
| Annual Per SF | $12.25 |
| Net Operating Income | |
|---|---|
| Annual | $243,882 |
| Annual Per SF | $16.95 |
PROPERTY FACTS
| Price | $3,300,000 | Property Subtype | Apartment |
| Price Per Unit | $137,500 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 7.39% | Lot Size | 0.26 AC |
| Sale Condition | 1031 Exchange | Building Size | 14,390 SF |
| Gross Rent Multiplier | 7.78 | Average Occupancy | 83% |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1924 |
| Zoning | R3, Los Angeles | ||
| Price | $3,300,000 |
| Price Per Unit | $137,500 |
| Sale Type | Investment |
| Cap Rate | 7.39% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 7.78 |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 14,390 SF |
| Average Occupancy | 83% |
| No. Stories | 2 |
| Year Built | 1924 |
| Zoning | R3, Los Angeles |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Hardwood Floors
- Sprinkler System
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Security System
- Tenant Controlled HVAC
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 23 | $1,454 | 550 |
| 1+1 | 1 | $1,924 | 600 |
1 1
Walk Score®
Very Walkable (88)
Transit Score®
Excellent Transit (73)
Bike Score®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 5019-001-025 | Total Assessment | $1,002,130 (2025) |
| Land Assessment | $429,047 (2025) | Annual Taxes | $39,600 ($2.75/SF) |
| Improvements Assessment | $573,083 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
5019-001-025
Land Assessment
$429,047 (2025)
Improvements Assessment
$573,083 (2025)
Total Assessment
$1,002,130 (2025)
Annual Taxes
$39,600 ($2.75/SF)
Tax Year
2024
1 of 13
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
844 W Martin Luther King Jr Blvd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.