2122 6Th AveLos Angeles, CA 90018

Property Details for 2122 6Th Ave

Year built

1918

Construction

WOOD

Lot size

0.17 AC

Property size (Sq ft)

5,220 SF

Zone code

LARD2

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

5060-024-020

APU

5060024020

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,875,428

  6.5%

  $1,731,164

  7%

  $1,607,510

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,538,584

  Geo Method

  $1,538,584

• Alternative Use

  Use

  Valuation

  Residential

  $1,731,164

  Hospitality

  $1,585,737

  Educational

  $1,319,315

  Medical

  $1,364,688

  Retail

  $2,052,267

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0373

Longitude

-118.323

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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