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2614 Griffin Ave 24 Unit Apartment Building $5,273,735 CAD ($219,739 CAD/Unit) 4.57% Cap Rate Los Angeles, CA 90031
INVESTMENT HIGHLIGHTS
- All one-bedroom, one-bath units with 19 parking spaces. Seismic retrofit completed
- Seismic retrofit completed and new roof installed
- Prime Lincoln Heights location with strong tenant demand.
- Elevator building; easily convertible to senior living units. • Seismic retrofit completed
- Significant value-add opportunity with over 40% rent upside
- First time on the market in over 20 years.
EXECUTIVE SUMMARY
Don’t miss this rare opportunity to acquire a stable income-producing property with significant upside. This 24-unit apartment building is located in the prime Lincoln Heights area and consists entirely of one-bedroom, one-bath units in a classic courtyard-style layout. The elevator-served building is easily convertible to senior living use and is situated in a high-demand rental market with a very low vacancy rate.
Major capital improvements have already been completed, including a full seismic retrofit and a recently replaced roof. The property offers a low cost per unit and is first time on market in over 20 years. With approximately 40% rent upside while maintaining in-place stable income, this is an exceptional value-add investment opportunity.
Major capital improvements have already been completed, including a full seismic retrofit and a recently replaced roof. The property offers a low cost per unit and is first time on market in over 20 years. With approximately 40% rent upside while maintaining in-place stable income, this is an exceptional value-add investment opportunity.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$481,440
|
$33.53
|
| Other Income |
$7,451
|
$0.52
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$488,892
|
$34.05
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$243,057
|
$16.93
|
| Net Operating Income |
$245,835
|
$17.12
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $481,440 |
| Annual Per SF | $33.53 |
| Other Income (CAD) | |
|---|---|
| Annual | $7,451 |
| Annual Per SF | $0.52 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $488,892 |
| Annual Per SF | $34.05 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $243,057 |
| Annual Per SF | $16.93 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $245,835 |
| Annual Per SF | $17.12 |
PROPERTY FACTS
| Price | $5,273,735 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $219,739 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.31 AC |
| Cap Rate | 4.57% | Building Size | 14,359 SF |
| Gross Rent Multiplier | 10.95 | Average Occupancy | 100% |
| No. Units | 24 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1970 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | LARD3 | ||
| Price | $5,273,735 CAD |
| Price Per Unit | $219,739 CAD |
| Sale Type | Investment |
| Cap Rate | 4.57% |
| Gross Rent Multiplier | 10.95 |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 14,359 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1970 |
| Opportunity Zone |
Yes |
| Zoning | LARD3 |
AMENITIES
UNIT AMENITIES
- Balcony
- Heating
- Kitchen
SITE AMENITIES
- Laundry Facilities
- Gated
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 24 | - | 550 - 600 |
1 1
Walk Score®
Very Walkable (89)
PROPERTY TAXES
| Parcel Number | 5206-009-017 | Improvements Assessment | $1,146,958 CAD |
| Land Assessment | $1,185,189 CAD | Total Assessment | $2,332,147 CAD |
PROPERTY TAXES
Parcel Number
5206-009-017
Land Assessment
$1,185,189 CAD
Improvements Assessment
$1,146,958 CAD
Total Assessment
$2,332,147 CAD
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2614 Griffin Ave
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