Alandele Court | Well-Maintained Triplex 854 Alandele Ave 3 Unit Apartment Building $1,750,000 ($583,333/Unit) 4.72% Cap Rate Los Angeles, CA 90036

Lucrum Real Estate Group is pleased to present Alandele Court, a well-maintained boutique multifamily investment opportunity located at 854 Alandele Avenue in the Mid-Wilshire/Fairfax area of Los Angeles. This charming two-story triplex features three renovated two-bedroom units on a quiet, tree-lined street characterized by a strong pride of ownership and curb appeal. With one unit currently vacant, the property presents a compelling owner-user or value-stable investment opportunity in a supply-constrained submarket adjacent to Miracle Mile.
Originally constructed in 1947, the wood-frame building reflects classic Los Angeles mid-century design, featuring a pitched roof, smooth stucco exterior, and tasteful architectural detailing. The property encompasses ±3,041 square feet of rentable space on a ±6,173 square-foot LAR3-zoned lot. Driveway accessibility on both sides of the property leads to garages positioned on each side of the building, enhancing functionality and tenant convenience.
At the rear of the property is a landscaped garden-style courtyard with a patio, BBQ, lounge seating area, and string lighting—creating a private outdoor amenity that supports tenant retention and long-term occupancy. All units benefit from both front and rear entry access, a rare and convenient feature.
The unit mix consists of three spacious two-bedroom + one-bath apartment homes with renovated interiors, high ceilings, ample storage, and efficient layouts. Unit #852 was converted from a one-bedroom to a two-bedroom without permits. Units #854 and #856 are stacked and share the same floor plan. Two units feature newer central air conditioning, while the third includes a wall-mounted A/C. All units are equipped with new individual hot water heaters and furnaces that were installed in 2024, in-unit washer/dryer hookups, and interior upgrades that balance character and charm with modern functionality. The property is master metered for water and individually metered for gas and electric, presenting a value-added opportunity to implement a Ratio Utility Billing System (RUBS) for water usage beginning with the vacant unit.
Significant recent capital improvements include a new sump pump (2024) and updated rain gutters (2024), supporting low ongoing maintenance and long-term asset durability. The property also benefits from street parking availability, including both permitted and non-permitted options, providing additional flexibility for residents.
Garage parking includes one two-car garage currently utilized by Unit #854 and one single-car garage that is currently vacant, presenting the opportunity for additional rental income.
With one vacant unit, a new investor has the flexibility to owner-occupy the property or further enhance cash flow through leasing at market rent. Strong in-place fundamentals, recent system upgrades, and consistent renter demand position Alandele Court as a stabilized asset with long-term durability in a prime Los Angeles location.
The Miracle Mile–adjacent Mid-Wilshire area is centrally positioned between Downtown Los Angeles, Hollywood, and the Westside, offering a rare combination of neighborhood character and regional accessibility. The area is defined by low-density residential streets, classic Los Angeles architecture, and a strong sense of continuity, supporting long-term renter appeal and consistent housing demand. Proximity to cultural destinations, employment centers, and everyday amenities—while maintaining a distinctly residential, home-like feel—has made this submarket one of the most desirable and tightly held locations for small-format multifamily ownership.
The property’s location near major destinations such as Museum Row and The Grove reinforces its appeal to tenants seeking walkable amenities and lifestyle convenience without sacrificing neighborhood livability. Boutique multifamily assets in this immediate area are infrequently offered for sale, underscoring the durability of the submarket and its long-term investment appeal.
Transportation access further enhances the location’s strength. Wilshire Boulevard and Olympic Boulevard serve as key east–west corridors with robust bus service, providing residents with efficient access to surrounding employment and cultural hubs. The area will also benefit from the forthcoming Metro D Line extension, with a new station at Wilshire/Fairfax Station projected to open in Winter 2026. Once completed, the extension will offer direct subway connectivity from Downtown Los Angeles to Westwood, significantly enhancing regional mobility for residents.
From a market perspective, rental performance in the Miracle Mile / Mid-Wilshire area has consistently outpaced broader Los Angeles averages, reflecting sustained tenant demand for centrally located, amenity-rich neighborhoods. While rent growth has moderated citywide, this submarket continues to command premium pricing relative to surrounding areas—supporting stable occupancy and long-term income durability for well-located assets such as Alandele Court.


Location Highlights

+ Mid-Wilshire/Fairfax area adjacent to Miracle Mile

+ Centrally positioned between Downtown, Hollywood, and the Westside

+ Quiet, low-density residential street with strong pride of ownership

+ Near Museum Row, The Grove, and Wilshire Corridor amenities

+ Transit-oriented location near Wilshire and Olympic Boulevards

+ Conveniently near Metro D Line extension (projected 2026)

+ Supply-constrained submarket with limited small-format multifamily

+ Consistent long-term renter demand driven by central location

+ Near major employment, cultural, and lifestyle hubs along the Wilshire Corridor

+ Walkable, transit-accessible neighborhood with reduced car reliance

+ Rated “Very Walkable,” boasting an 89 Walk Score