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845 Bunker Hill Ave 18 Unit Apartment Building $3,000,000 ($166,667/Unit) 6.22% Cap Rate Los Angeles, CA 90012
Investment Highlights
- Great Chinatown Location
- Solid Rental Upside Potential (+35%)
- On-Site Laundry Room
- Significant Remodel in 2013 - New Roof, Fire Alarm and Sprinkler System, Copper Plumbing, and Updated Electrical
- Nearly 4,000 SF Unfinished Basement Unit - Possible ADU Conversion
- Property Equipped with Security System
Executive Summary
Marcus and Millichap is pleased to present an eighteen (18) unit apartment building located at 845 N Bunker Hill Ave in Los Angeles, California. The subject property is located in a great Chinatown location, north of Cesar Chavez Ave and west of Hill St.
Located in the heart of Chinatown, the property consists of ten (10) studios and eight (8) one-bedrooms and has undergone significant capital improvements, including a new roof, upgraded fire alarm and sprinkler systems, copper plumbing, and updated electrical. The property offers rare central HVAC for a vintage asset, along with on-site security and laundry facilities. The property also presents an excellent value-add opportunity with a nearly 4,000 SF unfinished basement that offers future flexibility and potential ADU conversion. Additional benefits include separately metered gas and electricity, wood-frame stucco construction, low-maintenance landscaping, and a location just steps from Chinatown’s restaurants, transit, and everyday amenities.
Overall, the property combines capital improvements, rental upside potential (+35%), and a nearly 4,000 SF unfinished basement, offering investors a high initial cap rate in a very attractive Chinatown location.
Located in the heart of Chinatown, the property consists of ten (10) studios and eight (8) one-bedrooms and has undergone significant capital improvements, including a new roof, upgraded fire alarm and sprinkler systems, copper plumbing, and updated electrical. The property offers rare central HVAC for a vintage asset, along with on-site security and laundry facilities. The property also presents an excellent value-add opportunity with a nearly 4,000 SF unfinished basement that offers future flexibility and potential ADU conversion. Additional benefits include separately metered gas and electricity, wood-frame stucco construction, low-maintenance landscaping, and a location just steps from Chinatown’s restaurants, transit, and everyday amenities.
Overall, the property combines capital improvements, rental upside potential (+35%), and a nearly 4,000 SF unfinished basement, offering investors a high initial cap rate in a very attractive Chinatown location.
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 |
-
|
-
|
| Operating Expenses |
-
|
-
|
| 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 | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,000,000 | Apartment Style | Low-Rise |
| Price Per Unit | $166,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 6.22% | Building Size | 11,578 SF |
| Gross Rent Multiplier | 9.64 | No. Stories | 3 |
| No. Units | 18 | Year Built | 1910 |
| Property Type | Multifamily | Parking Ratio | 0.35/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R4, Los Angeles - High Density Residential Zone allowing for the development of larger multi-family | ||
| Price | $3,000,000 |
| Price Per Unit | $166,667 |
| Sale Type | Investment |
| Cap Rate | 6.22% |
| Gross Rent Multiplier | 9.64 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 11,578 SF |
| No. Stories | 3 |
| Year Built | 1910 |
| Parking Ratio | 0.35/1,000 SF |
| Zoning | R4, Los Angeles - High Density Residential Zone allowing for the development of larger multi-family |
Amenities
Unit Amenities
- Air Conditioning
- Heating
Site Amenities
- Controlled Access
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 10 | - | - |
| 1+1 | 8 | - | - |
1 1
Walk Score®
Walker's Paradise (91)
Transit Score®
Excellent Transit (86)
Property Taxes
| Parcel Number | 5407-007-010 | Improvements Assessment | $904,250 |
| Land Assessment | $872,973 | Total Assessment | $1,777,223 |
Property Taxes
Parcel Number
5407-007-010
Land Assessment
$872,973
Improvements Assessment
$904,250
Total Assessment
$1,777,223
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845 Bunker Hill Ave
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