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907-909 Glendale Blvd 10 Unit Apartment Building $1,950,000 ($195,000/Unit) 5.16% Cap Rate Los Angeles, CA 90026
INVESTMENT HIGHLIGHTS
- Unbeatable Location Across Echo Park Lake
- Walking Distance to Famous Sunset Boulevard
- Priced Well Below Replacement Cost
- Value-Add with 40% Rental Upside
- Desirable Bungalow Style Units
EXECUTIVE SUMMARY
907 Glendale Boulevard is a 10-unit apartment complex located directly across the Echo Park lake. The property is steps away from famous Sunset Boulevard which has a myriad of dining and entertainment options. The property consists of six (6) studio units and four (4) one-bedroom units spread across 4,312 rentable square feet. The opportunity consists of five separate structures – the front structures boasting the studio units and the back structure showcasing the one-bedroom. While the units have been kept in good condition, there is still approximately 40% rental upside.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$173,160
|
$40.16
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$5,195
|
$1.20
|
| Effective Gross Income |
$167,965
|
$38.95
|
| Taxes |
$23,400
|
$5.43
|
| Operating Expenses |
$43,936
|
$10.19
|
| Total Expenses |
$67,336
|
$15.62
|
| Net Operating Income |
$100,629
|
$23.34
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $173,160 |
| Annual Per SF | $40.16 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $5,195 |
| Annual Per SF | $1.20 |
| Effective Gross Income | |
|---|---|
| Annual | $167,965 |
| Annual Per SF | $38.95 |
| Taxes | |
|---|---|
| Annual | $23,400 |
| Annual Per SF | $5.43 |
| Operating Expenses | |
|---|---|
| Annual | $43,936 |
| Annual Per SF | $10.19 |
| Total Expenses | |
|---|---|
| Annual | $67,336 |
| Annual Per SF | $15.62 |
| Net Operating Income | |
|---|---|
| Annual | $100,629 |
| Annual Per SF | $23.34 |
PROPERTY FACTS
| Price | $1,950,000 | Apartment Style | Low-Rise |
| Price Per Unit | $195,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.16% | Building Size | 4,312 SF |
| Gross Rent Multiplier | 11.26 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1923 |
| Property Subtype | Apartment | Parking Ratio | 0.92/1,000 SF |
| Zoning | RD2-1VL-CDO - Residential | ||
| Price | $1,950,000 |
| Price Per Unit | $195,000 |
| Sale Type | Investment |
| Cap Rate | 5.16% |
| Gross Rent Multiplier | 11.26 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 4,312 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1923 |
| Parking Ratio | 0.92/1,000 SF |
| Zoning | RD2-1VL-CDO - Residential |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 6 | $1,103 | 350 |
| 1+1 | 4 | $1,954 | 500 |
1 1
Walk Score®
Walker's Paradise (95)
Bike Score®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 5404-005-006 | Total Assessment | $1,538,928 (2025) |
| Land Assessment | $1,154,199 (2025) | Annual Taxes | $23,400 ($5.43/SF) |
| Improvements Assessment | $384,729 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
5404-005-006
Land Assessment
$1,154,199 (2025)
Improvements Assessment
$384,729 (2025)
Total Assessment
$1,538,928 (2025)
Annual Taxes
$23,400 ($5.43/SF)
Tax Year
2024
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907-909 Glendale Blvd
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