For Sale
$1,325,000

2122 6Th AveLos Angeles, CA 90018

Prime Location, High Potential Returns

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional 5-unit apartment building, situated on a 7,508 sq ft lot in Los Angeles (90018), presents a compelling investment opportunity. The property, built in 1918 and featuring two 2-story buildings, boasts a total of 5,220 sq ft of net rentable space, with four one-bedroom and one three-bedroom units. Each unit includes an in-unit washer/dryer, and 60% have been upgraded with modern amenities such as granite countertops, refinished hardwood floors, and updated bathrooms. Unit 2124 even features central AC. Five on-site garages are included, with two currently vacant and one used as a tenant bonus room/office, generating additional income. The property's zoning (LARD2) allows for the potential conversion of the vacant garage and bonus room into Accessory Dwelling Units (ADUs), subject to buyer verification, offering significant future growth potential. The current NOI is $77,978, with a pro-forma NOI of $107,144, reflecting a 5.89% cap rate and a pro-forma cap rate of 8.09%. Located in a rapidly gentrifying area bordering West Adams and Arlington Heights, this property benefits from a walk score of 84 ("Very Walkable"), providing convenient access to employment centers, retail, and entertainment. The asking price is $1,325,000 ($265,000 per unit and $253.83 per sq ft). This well-maintained property offers a value-add opportunity with approximately 20% remaining rental upside through further renovations. The combination of its prime location, existing upgrades, and ADU potential makes this a strong investment for long-term appreciation.

Highlights

  • Potential for Accessory Dwelling Unit (ADU) conversion.
  • Partially renovated with 60% of units featuring upgraded kitchens and bathrooms.
  • Located in a rapidly gentrifying area with high walkability (Walk Score 84).
  • Significant rental upside potential (20%).
  • Well-maintained property with in-unit laundry.

Property Details for 2122 6Th Ave

Property type
Apartment buildings
Square Feet
5,220 SF
Year Built
1918
Buildings
2
Stories
2
Units
5

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.0373067
Longitude
-118.3233873
2122 6Th Ave, Los Angeles, California

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2122 6Th Ave
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