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The Victorian at 11th Place – 11 Keys 1840 W 11th Pl 6 Unit Apartment Building $1,999,463 CAD ($333,244 CAD/Unit) 7.38% Cap Rate Los Angeles, CA 90006
Investment Highlights
- 81.8% occupied — 9 of 11 keys leased
- 7.38% in-place cap on $107,000 NOI
- Pico-Union — minutes west of Downtown LA
- 6 legal units operated as 11 income keys
- Rear-yard detached ADU development upside
Executive Summary
PRICE IMPROVEMENT — now $1,450,000, reduced $50,000. A renovated 1900 Victorian in Pico-Union, Los Angeles, offered at a 7.38% in-place cap rate on $107,000 of net operating income.
STABILIZED IN-PLACE YIELD: 81.8% occupied at $1,450,000 — income from day one, with two keys available to lease.
FLEXIBLE UNIT / KEY MODEL: Six legal units operated as 11 income keys — efficient by-the-room income near USC.
REAR-YARD DETACHED ADU UPSIDE: California's multifamily ADU allowances provide an entitled path to new detached income units alongside the existing building, adding units and value with no displacement of the in-place rent roll. Buyer to verify final unit count, parking and site feasibility.
INCOME-PRODUCING LIVE/WORK LOFT: Leased at $1,895/mo, diversifying a studio-weighted rent roll.
PICO-UNION / CENTRAL LA: Minutes west of Downtown Los Angeles with direct transit access, in a dense, overwhelmingly renter-occupied and actively revitalizing neighborhood — roughly 1.3 million residents within five miles.
Offered individually or as part of a 7-asset Central-LA portfolio. Full OM, proforma, T-12 and rent roll available. Full co-broke offered.
STABILIZED IN-PLACE YIELD: 81.8% occupied at $1,450,000 — income from day one, with two keys available to lease.
FLEXIBLE UNIT / KEY MODEL: Six legal units operated as 11 income keys — efficient by-the-room income near USC.
REAR-YARD DETACHED ADU UPSIDE: California's multifamily ADU allowances provide an entitled path to new detached income units alongside the existing building, adding units and value with no displacement of the in-place rent roll. Buyer to verify final unit count, parking and site feasibility.
INCOME-PRODUCING LIVE/WORK LOFT: Leased at $1,895/mo, diversifying a studio-weighted rent roll.
PICO-UNION / CENTRAL LA: Minutes west of Downtown Los Angeles with direct transit access, in a dense, overwhelmingly renter-occupied and actively revitalizing neighborhood — roughly 1.3 million residents within five miles.
Offered individually or as part of a 7-asset Central-LA portfolio. Full OM, proforma, T-12 and rent roll available. Full co-broke offered.
Property Facts
| Price | $1,999,463 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $333,244 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 7.38% | Building Size | 4,285 SF |
| Gross Rent Multiplier | 8.41 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1900/2022 |
| Property Subtype | Apartment | Parking Ratio | 1.17/1,000 SF |
| Zoning | LARD1.5 - Los Angeles Residential District | ||
| Price | $1,999,463 CAD |
| Price Per Unit | $333,244 CAD |
| Sale Type | Investment |
| Cap Rate | 7.38% |
| Gross Rent Multiplier | 8.41 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 4,285 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1900/2022 |
| Parking Ratio | 1.17/1,000 SF |
| Zoning | LARD1.5 - Los Angeles Residential District |
Amenities
Unit Amenities
- Kitchen
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 5 | - | 170 |
| 1+1 | 1 | - | 1,150 |
1 1
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 5136-021-016 | Improvements Assessment | $243,385 CAD |
| Land Assessment | $973,989 CAD | Total Assessment | $1,217,374 CAD |
Property Taxes
Parcel Number
5136-021-016
Land Assessment
$973,989 CAD
Improvements Assessment
$243,385 CAD
Total Assessment
$1,217,374 CAD
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The Victorian at 11th Place – 11 Keys | 1840 W 11th Pl
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