2122 6Th Ave Los Angeles, CA 90018

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.