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2440 Wabash Ave 5 Unit Apartment Building $1,231,560 CAD ($246,312 CAD/Unit) 5.91% Cap Rate Los Angeles, CA 90033
Executive Summary
2440 Wabash Ave presents a value-add multifamily opportunity in the heart of Boyle Heights, one of East Los Angeles’ most dynamic and rapidly evolving neighborhoods. Located in the 90033 zip code near Downtown LA, USC, and the Arts District, the property benefits from strong renter demand and transit-oriented accessibility. Built in 1923, the asset consists of five units across three single-story buildings on an 8,066 SF lot.
In-place rents are materially below market, providing immediate and quantifiable upside through rent repositioning and value-add execution. Favorable LARD3 zoning and a flexible unit mix support multiple value-creation strategies (buyer to verify), while ongoing neighborhood revitalization underpins long-term appreciation.
2440 Wabash Ave offers investors a highly executable value-add opportunity with meaningful NOI growth potential in a supply-constrained urban infill market.
In-place rents are materially below market, providing immediate and quantifiable upside through rent repositioning and value-add execution. Favorable LARD3 zoning and a flexible unit mix support multiple value-creation strategies (buyer to verify), while ongoing neighborhood revitalization underpins long-term appreciation.
2440 Wabash Ave offers investors a highly executable value-add opportunity with meaningful NOI growth potential in a supply-constrained urban infill market.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,231,560 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $246,312 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 5.91% | Building Size | 3,757 SF |
| Gross Rent Multiplier | 10.39 | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1923 |
| Property Subtype | Apartment | Parking Ratio | 2.18/1,000 SF |
| Zoning | LARD3 - residential | ||
| Price | $1,231,560 CAD |
| Price Per Unit | $246,312 CAD |
| Sale Type | Investment |
| Cap Rate | 5.91% |
| Gross Rent Multiplier | 10.39 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 3,757 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1923 |
| Parking Ratio | 2.18/1,000 SF |
| Zoning | LARD3 - residential |
Amenities
Unit Amenities
- Heating
- Kitchen
- Satellite TV
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Trash Pickup - Curbside
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 600 |
| 2+1 | 2 | - | 900 - 1,300 |
| 3+2 | 1 | - | 1,300 |
1 1
Walk Score®
Very Walkable (84)
Property Taxes
| Parcel Number | 5177-015-003 | Improvements Assessment | $500,190 CAD |
| Land Assessment | $872,426 CAD | Total Assessment | $1,372,616 CAD |
Property Taxes
Parcel Number
5177-015-003
Land Assessment
$872,426 CAD
Improvements Assessment
$500,190 CAD
Total Assessment
$1,372,616 CAD
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2440 Wabash Ave
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