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1511 W 11th Pl 16 Unit Apartment Building $2,307,242 CAD ($144,203 CAD/Unit) 8.35% Cap Rate Los Angeles, CA 90015
Investment Highlights
- The property measures at approximately 6,852 SF sitting on a 4,551 SF lot, comprising of (16) Studio Units priced at just $106,188/Unit
- Conveniently located in Pico Union, in close proximity to Downtown LA, Koreatown, and major employment hubs
- With 38% in Rental Upside, the property offers a going-in cap rate of 8.35% and a GRM of 7.43
Executive Summary
8.35% Cap Rate | Strong In-Place Cash Flow
1511 W 11th Pl presents a rare opportunity to acquire a high-performing 16-unit apartment asset at an exceptional basis in the heart of Pico- Union. Priced at just $106,188 per unit and $248 per square foot, the property offers some of the strongest in-place returns available in the submarket. The building is separately metered for electric and is currently operating at a 7.43 GRM, providing investors with durable day-one cash flow and minimal operational friction. This profile makes the asset ideal for both local investors and 1031 exchange buyers seeking stable income in a dense, supply-constrained market. Ideally located just minutes from Downtown Los Angeles, Koreatown, Silver Lake, and Echo Park, the property benefits from proximity to major employment hubs, consistent rental demand, and ongoing neighborhood revitalization—positioning 1511 W 11th Pl as a compelling long-term hold.
1511 W 11th Pl presents a rare opportunity to acquire a high-performing 16-unit apartment asset at an exceptional basis in the heart of Pico- Union. Priced at just $106,188 per unit and $248 per square foot, the property offers some of the strongest in-place returns available in the submarket. The building is separately metered for electric and is currently operating at a 7.43 GRM, providing investors with durable day-one cash flow and minimal operational friction. This profile makes the asset ideal for both local investors and 1031 exchange buyers seeking stable income in a dense, supply-constrained market. Ideally located just minutes from Downtown Los Angeles, Koreatown, Silver Lake, and Echo Park, the property benefits from proximity to major employment hubs, consistent rental demand, and ongoing neighborhood revitalization—positioning 1511 W 11th Pl as a compelling long-term hold.
Property Facts
| Price | $2,307,242 CAD | Property Subtype | Apartment |
| Price Per Unit | $144,203 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 8.35% | Lot Size | 0.11 AC |
| Gross Rent Multiplier | 7.43 | Building Size | 6,852 SF |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1924 |
| Zoning | R4 - restricted Density Multiple Dwelling | ||
| Price | $2,307,242 CAD |
| Price Per Unit | $144,203 CAD |
| Sale Type | Investment |
| Cap Rate | 8.35% |
| Gross Rent Multiplier | 7.43 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 6,852 SF |
| No. Stories | 2 |
| Year Built | 1924 |
| Zoning | R4 - restricted Density Multiple Dwelling |
Amenities
Unit Amenities
- Heating
- Kitchen
- Range
1 1
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5137-020-016 | Improvements Assessment | $692,081 CAD |
| Land Assessment | $692,081 CAD | Total Assessment | $1,384,162 CAD |
Property Taxes
Parcel Number
5137-020-016
Land Assessment
$692,081 CAD
Improvements Assessment
$692,081 CAD
Total Assessment
$1,384,162 CAD
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1511 W 11th Pl
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