5.87% Cap Rate w/ Opportunity to Add 4 ADU's 4200 6th Ave 6 Unit Apartment Building $2,184,145 CAD ($364,024 CAD/Unit) 5.87% Cap Rate Los Angeles, CA 90008

Classic Six Units in Leimert Park with Massive ADU Potential: 4200 6th Avenue presents a rare value-add opportunity in the heart of Leimert Park, one of Los Angeles’ most culturally significant and rapidly improving neighborhoods. Sitting on an expansive corner lot, this charming 1929 Spanish-style 6-unit apartment building offers immediate cash flow with meaningful upside through organic rent growth and a high-impact ADU redevelopment strategy.
The property features an ideal unit mix comprised of four (4) 2BD/1BA units and two (2) 1BD/1BA units, with classic Spanish curb appeal, a welcoming courtyard vibe, and on-site parking/garages. The current rent roll offers approximately 23% organic upside through mark-to-market rental growth as units naturally turn, creating a clear path to increased NOI without needing aggressive repositioning.
Beyond rent growth, the real story here is the long-term development upside: the site supports the potential to add four (4) detached ADU units (conceptual), creating a compelling opportunity to dramatically expand the income stream and future value. The ADU pro forma scenario pushes total scheduled income to approximately $259,920/year, positioning this asset as a true hybrid play.
Upgrades:
1) Electrical Upgrade - Electrical system upgraded with 60A sub-panel feed installation, new feeders run in 1” flex conduit, and grounding/bonding corrections including two 10’ ground rods and #4 solid grounding to rods and cold-water bond. Work included load calculations for the existing 200A service and permit coordination.
2) Two (2) Full interior unit remodels refinished hardwood floors, paint, upgraded appliances, ceiling fans and redid the shower, bathroom floors and mini split.
3) Foundation bolted and re-enforced
4) Painted Exterior of Building
5) New white coat on the flat roof