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942 S Burlington Ave 16 Unit Apartment Building $2,650,000 ($165,625/Unit) 6.22% Cap Rate Los Angeles, CA 90006
Investment Highlights
- Strategic 16-Unit Multifamily Asset: 1960s low-rise featuring a desirable unit mix of twelve (12) studio units and four (4) spacious one-beds.
- Transit-Oriented Location (96 Walk Score): Situated blocks from the Westlake/MacArthur Park Metro Station, offering access to DTLA and Koreatown.
- Exceptional Parking & Utilities: Features fifteen (15) rare subterranean parking spaces and is separately metered for both gas and electricity.
- Rental Upside: Positioned in a high-demand rental corridor, allows investors to capture market-rate premiums through strategic renovations.
- High-Density LAR4 Zoning: Situated on 8,222 SF lot zoned LAR4, offering long-term density advantages and development potential in a Tier 3 TOC area.
- Maintenance & Upgrades: Recent capital improvements including electrical subpanel replacements and plumbing updates ensure operational efficiency.
Executive Summary
This 16-unit multifamily property located in Mid-Wilshire presents an excellent investment opportunity with strong upside potential. Built in 1964, the property features a unit mix of 12 Singles and 4 One-Bedroom units.
The building is separately metered for gas and electricity and has 15 subterranean parking spaces. With approximately 25% rental upside, there is plenty of opportunity to increase long term cash flow.
Note: Currently there is one vacant unit, it has been recently vacated and is an older unit.
The building is separately metered for gas and electricity and has 15 subterranean parking spaces. With approximately 25% rental upside, there is plenty of opportunity to increase long term cash flow.
Note: Currently there is one vacant unit, it has been recently vacated and is an older unit.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$248,532
|
$27.06
|
| Other Income |
$15,000
|
$1.63
|
| Vacancy Loss |
$7,456
|
$0.81
|
| Effective Gross Income |
$256,076
|
$27.88
|
| Taxes |
$33,125
|
$3.61
|
| Operating Expenses |
$58,050
|
$6.32
|
| Total Expenses |
$91,175
|
$9.93
|
| Net Operating Income |
$164,901
|
$17.95
|
Financial Summary (Actual - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $248,532 |
| Annual Per SF | $27.06 |
| Other Income | |
|---|---|
| Annual | $15,000 |
| Annual Per SF | $1.63 |
| Vacancy Loss | |
|---|---|
| Annual | $7,456 |
| Annual Per SF | $0.81 |
| Effective Gross Income | |
|---|---|
| Annual | $256,076 |
| Annual Per SF | $27.88 |
| Taxes | |
|---|---|
| Annual | $33,125 |
| Annual Per SF | $3.61 |
| Operating Expenses | |
|---|---|
| Annual | $58,050 |
| Annual Per SF | $6.32 |
| Total Expenses | |
|---|---|
| Annual | $91,175 |
| Annual Per SF | $9.93 |
| Net Operating Income | |
|---|---|
| Annual | $164,901 |
| Annual Per SF | $17.95 |
Property Facts
| Price | $2,650,000 | Apartment Style | Low-Rise |
| Price Per Unit | $165,625 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 6.22% | Building Size | 9,186 SF |
| Gross Rent Multiplier | 10 | No. Stories | 2 |
| No. Units | 16 | Year Built | 1964 |
| Property Type | Multifamily | Parking Ratio | 2/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | LAR4 | ||
| Price | $2,650,000 |
| Price Per Unit | $165,625 |
| Sale Type | Investment |
| Cap Rate | 6.22% |
| Gross Rent Multiplier | 10 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 9,186 SF |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 2/1,000 SF |
| Zoning | LAR4 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 12 | $1,311 | - |
| 1+1 | 4 | $1,244 | - |
1 1
Very walkable
80/100
Exceptionally drivable
90/100
Exceptional public transit
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5137-001-036 | Total Assessment | $2,245,728 (2025) |
| Land Assessment | $1,334,671 (2025) | Annual Taxes | $33,125 ($3.61/SF) |
| Improvements Assessment | $911,057 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
5137-001-036
Land Assessment
$1,334,671 (2025)
Improvements Assessment
$911,057 (2025)
Total Assessment
$2,245,728 (2025)
Annual Taxes
$33,125 ($3.61/SF)
Tax Year
2026
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