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7%+ CAP Rate 205-207 W Vernon Ave 7 Unit Apartment Building $1,349,888 CAD ($192,841 CAD/Unit) 7.08% Cap Rate Los Angeles, CA 90037
EXECUTIVE SUMMARY
We are pleased to present this 7-unit apartment community located at 205 W Vernon Ave, less than 10 minutes away from Downtown Los Angeles, offered at a 7.22 GRM and 7.08% CAP on current rents with upside potential to achieve an 8.85% CAP and 6.35 GRM with proforma rents.
This opportunity consists of a two-story building offering a total of 3,655 rentable square feet. Built in 1907, the property is situated on a 5,881 square foot LAC2 zoned lot with five uncovered parking spaces in the rear. The unit mix consists of one (1) two bedroom one-bathroom unit, three (3) one bedroom one-bathroom units and three (3) studio units with 4 out of 7 units having been renovated. One (1) one bedroom unit will be delivered VACANT.
Nearby amenities include the Gilbert Lindsay Recreation Center, Trader Joe’s, the Ross Snyder Recreation Center, Superiors Grocers, USC, The Coliseum, LAFC, Crypto.com Arena, The Convention Center and various employment opportunities within the direct vicinity of the property. Contact the listing broker for additional information.
This opportunity consists of a two-story building offering a total of 3,655 rentable square feet. Built in 1907, the property is situated on a 5,881 square foot LAC2 zoned lot with five uncovered parking spaces in the rear. The unit mix consists of one (1) two bedroom one-bathroom unit, three (3) one bedroom one-bathroom units and three (3) studio units with 4 out of 7 units having been renovated. One (1) one bedroom unit will be delivered VACANT.
Nearby amenities include the Gilbert Lindsay Recreation Center, Trader Joe’s, the Ross Snyder Recreation Center, Superiors Grocers, USC, The Coliseum, LAFC, Crypto.com Arena, The Convention Center and various employment opportunities within the direct vicinity of the property. Contact the listing broker for additional information.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$95,569
|
$26.15
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $95,569 |
| Annual Per SF | $26.15 |
PROPERTY FACTS
| Price | $1,349,888 CAD | Building Class | C |
| Price Per Unit | $192,841 CAD | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 3,655 SF |
| Cap Rate | 7.08% | Average Occupancy | 86% |
| Gross Rent Multiplier | 7.22 | No. Stories | 2 |
| No. Units | 7 | Year Built | 1907 |
| Property Type | Multifamily | Parking Ratio | 1.37/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | LAC2 - 5,881 SF LAC2 zoned midblock lot. | ||
| Price | $1,349,888 CAD |
| Price Per Unit | $192,841 CAD |
| Sale Type | Investment |
| Cap Rate | 7.08% |
| Gross Rent Multiplier | 7.22 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 3,655 SF |
| Average Occupancy | 86% |
| No. Stories | 2 |
| Year Built | 1907 |
| Parking Ratio | 1.37/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LAC2 - 5,881 SF LAC2 zoned midblock lot. |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 3 | $1,678 CAD | 260 |
| 1+1 | 3 | $2,176 CAD | - |
| 2+1 | 1 | $3,398 CAD | - |
1 1
Walk Score®
Very Walkable (87)
Bike Score®
Very Bikeable (85)
PROPERTY TAXES
| Parcel Number | 5111-010-017 | Improvements Assessment | $575,544 CAD (2025) |
| Land Assessment | $984,488 CAD (2025) | Total Assessment | $1,560,032 CAD (2025) |
PROPERTY TAXES
Parcel Number
5111-010-017
Land Assessment
$984,488 CAD (2025)
Improvements Assessment
$575,544 CAD (2025)
Total Assessment
$1,560,032 CAD (2025)
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7%+ CAP Rate | 205-207 W Vernon Ave
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