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2024 Mid-City Fourplex | True 5.70% Cap Rate 2223 S Highland Ave 4 Unit Apartment Building $4,103,460 CAD ($1,025,865 CAD/Unit) 5.85% Cap Rate Los Angeles, CA 90016
Investment Highlights
- NO RENT CONTROL!
- Located in ultra trendy and highly sought after Mid-City, minutes from West Adams and Culver City- A major draw for A+ tenants!
- Rooftop decks with amazing LA views!
- FULLY RENTED at a real 5.85% cap rate. Cash cow!
- One of the LOWEST priced luxury new construction fourplexes in the Mid-City/West Adams area. The best deal you will find!
- All units separately metered. Tenants pay utilities, meaning minimal owner expenses.
Executive Summary
Brand New 2024-built fourplex in central Mid-City, just minutes from West Adams and Culver City, offering a true 5.85% cap rate. Fully leased, this high-end property features spacious living rooms, modern kitchens, and sleek finishes. Two of the units boast private rooftop decks, adding valuable outdoor space. A low-maintenance investment in a prime, high-demand rental market.
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$312,969
|
$65.63
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$12,519
|
$2.63
|
| Effective Gross Income |
$300,450
|
$63.00
|
| Taxes |
$49,229
|
$10.32
|
| Operating Expenses |
$11,035
|
$2.31
|
| Total Expenses |
$60,263
|
$12.64
|
| Net Operating Income |
$240,186
|
$50.36
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $312,969 |
| Annual Per SF | $65.63 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $12,519 |
| Annual Per SF | $2.63 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $300,450 |
| Annual Per SF | $63.00 |
| Taxes (CAD) | |
|---|---|
| Annual | $49,229 |
| Annual Per SF | $10.32 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $11,035 |
| Annual Per SF | $2.31 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $60,263 |
| Annual Per SF | $12.64 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $240,186 |
| Annual Per SF | $50.36 |
Property Facts
| Price | $4,103,460 CAD | Building Class | C |
| Price Per Unit | $1,025,865 CAD | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 4,769 SF |
| Cap Rate | 5.85% | Average Occupancy | 100% |
| Gross Rent Multiplier | 13.11 | No. Stories | 3 |
| No. Units | 4 | Year Built | 2024 |
| Property Type | Multifamily | Parking Ratio | 1/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | LARD1.5 - restricted Density Multiple Dwelling | ||
| Price | $4,103,460 CAD |
| Price Per Unit | $1,025,865 CAD |
| Sale Type | Investment |
| Cap Rate | 5.85% |
| Gross Rent Multiplier | 13.11 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 4,769 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2024 |
| Parking Ratio | 1/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LARD1.5 - restricted Density Multiple Dwelling |
Amenities
Unit Amenities
- Dishwasher
- Microwave
- Washer/Dryer
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Views
- Deck
- Double Pane Windows
- Instant Hot Water
- Island Kitchen
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+4 | 2 | $6,308 CAD | 1,461 |
| 4+4.5 | 2 | $6,733 CAD | 1,860 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5062-018-031 | Total Assessment | $3,276,730 CAD (2025) |
| Land Assessment | $1,002,792 CAD (2025) | Annual Taxes | $49,229 CAD ($10.32 CAD/SF) |
| Improvements Assessment | $2,273,938 CAD (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
5062-018-031
Land Assessment
$1,002,792 CAD (2025)
Improvements Assessment
$2,273,938 CAD (2025)
Total Assessment
$3,276,730 CAD (2025)
Annual Taxes
$49,229 CAD ($10.32 CAD/SF)
Tax Year
2024
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2024 Mid-City Fourplex | True 5.70% Cap Rate | 2223 S Highland Ave
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