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1181-1185 N Virgil Ave 8 Unit Apartment Building $3,692,736 CAD ($461,592 CAD/Unit) 6.58% Cap Rate Los Angeles, CA 90029
Investment Highlights
- Solar panels
- Corner Property
- Secured Playground Area
- Single tenant stabilized property
Executive Summary
Fully Renovated (2012): Modern systems, solar panels, tankless water heaters, AC, plus upgraded amenities including playground and secured parking
Prime LA Location: Between Hollywood, Silver Lake, and Los Feliz, with Metro B Line access at Vermont/Sunset.
Single-Tenant Structure:
Tenant: First Place for Youth — nationally recognized nonprofit serving foster youth (ages 18–24)
Eliminates multi-tenant turnover risk, simplifies management, and stable cash flow
Long-Term Lease:
Through July 2029 with two 1-year extension options
In occupancy since 2019 and in good standing
Maintenance Obligations:
Tenant: Day-to-day repairs for unit interiors, common areas, and adjacent sidewalks/walkways
Landlord: Preventative maintenance and capital improvements
Prime LA Location: Between Hollywood, Silver Lake, and Los Feliz, with Metro B Line access at Vermont/Sunset.
Single-Tenant Structure:
Tenant: First Place for Youth — nationally recognized nonprofit serving foster youth (ages 18–24)
Eliminates multi-tenant turnover risk, simplifies management, and stable cash flow
Long-Term Lease:
Through July 2029 with two 1-year extension options
In occupancy since 2019 and in good standing
Maintenance Obligations:
Tenant: Day-to-day repairs for unit interiors, common areas, and adjacent sidewalks/walkways
Landlord: Preventative maintenance and capital improvements
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$300,055
|
$54.20
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$300,055
|
$54.20
|
| Taxes |
$49,803
|
$9.00
|
| Operating Expenses |
$9,207
|
$1.66
|
| Total Expenses |
$59,010
|
$10.66
|
| Net Operating Income |
$241,045
|
$43.54
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $300,055 |
| Annual Per SF | $54.20 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $300,055 |
| Annual Per SF | $54.20 |
| Taxes (CAD) | |
|---|---|
| Annual | $49,803 |
| Annual Per SF | $9.00 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $9,207 |
| Annual Per SF | $1.66 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $59,010 |
| Annual Per SF | $10.66 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $241,045 |
| Annual Per SF | $43.54 |
Property Facts
Amenities
Unit Amenities
- Washer/Dryer Hookup
- Heating
- Kitchen
- Oven
- Carpet
- Yard
- Double Pane Windows
- Garden
- Lawn
- Patio
Site Amenities
- Courtyard
- Laundry Facilities
- Playground
- Gated
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | - |
| 1+1 | 2 | - | - |
| 2+1 | 4 | - | - |
1 1
Very walkable
80/100
Very drivable
80/100
Strong public transit
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5542-026-022 | Total Assessment | $3,888,973 CAD (2025) |
| Land Assessment | $2,333,385 CAD (2025) | Annual Taxes | $49,803 CAD ($9.00 CAD/SF) |
| Improvements Assessment | $1,555,588 CAD (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
5542-026-022
Land Assessment
$2,333,385 CAD (2025)
Improvements Assessment
$1,555,588 CAD (2025)
Total Assessment
$3,888,973 CAD (2025)
Annual Taxes
$49,803 CAD ($9.00 CAD/SF)
Tax Year
2024
Contacts
-
Mauricio
Nunez
-
Max
Esquivel
-
Rodrigo
Gonzalez
-
Life Connoisseurs Management & Enterprise Tony June
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1181-1185 N Virgil Ave
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