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517 W 42nd Plz 6 Unit Apartment Building $1,639,820 CAD ($273,303 CAD/Unit) 5.77% Cap Rate Los Angeles, CA 90037
Investment Highlights
- 5.77% Current Cap Rate | 10.50 Current GRM
- Renovated in 2020 | 6.2% Remaining Rent Upside
- 7 Electric Meters + 7 Gas Meters
- $113,618 Gross Scheduled Income
- Two Larger Townhouse-Style 1BR Units
- 7 Electric Meters + 7 Gas Meters
Executive Summary
517 W 42nd Place is a renovated six-unit multifamily property located just south of USC and Exposition Park.
The property consists of four 1BR/1BA units and two studios across two separate buildings, including two larger townhouse-style one-bedroom units in the rear structure. Renovated in 2020 with updated kitchens, bathrooms, flooring, interiors, and exterior improvements.
Current gross scheduled income is $113,618, producing a 5.77% current cap rate and 10.50 GRM at the asking price. The existing rent roll offers approximately 6.2% additional rent upside. One renovated one-bedroom unit is currently available for lease at $1,995/month.
The property consists of four 1BR/1BA units and two studios across two separate buildings, including two larger townhouse-style one-bedroom units in the rear structure. Renovated in 2020 with updated kitchens, bathrooms, flooring, interiors, and exterior improvements.
Current gross scheduled income is $113,618, producing a 5.77% current cap rate and 10.50 GRM at the asking price. The existing rent roll offers approximately 6.2% additional rent upside. One renovated one-bedroom unit is currently available for lease at $1,995/month.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$156,125
|
$52.32
|
| Other Income |
$441
|
$0.15
|
| Vacancy Loss |
$4,684
|
$1.57
|
| Effective Gross Income |
$151,882
|
$50.90
|
| Taxes |
$20,700
|
$6.94
|
| Operating Expenses |
$36,575
|
$12.26
|
| Total Expenses |
$57,275
|
$19.19
|
| Net Operating Income |
$94,607
|
$31.70
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $156,125 |
| Annual Per SF | $52.32 |
| Other Income (CAD) | |
|---|---|
| Annual | $441 |
| Annual Per SF | $0.15 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $4,684 |
| Annual Per SF | $1.57 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $151,882 |
| Annual Per SF | $50.90 |
| Taxes (CAD) | |
|---|---|
| Annual | $20,700 |
| Annual Per SF | $6.94 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $36,575 |
| Annual Per SF | $12.26 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $57,275 |
| Annual Per SF | $19.19 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $94,607 |
| Annual Per SF | $31.70 |
Property Facts
| Price | $1,639,820 CAD | Property Subtype | Apartment |
| Price Per Unit | $273,303 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.77% | Lot Size | 0.11 AC |
| Sale Condition | 1031 Exchange | Building Size | 2,984 SF |
| Gross Rent Multiplier | 10.5 | No. Stories | 1 |
| No. Units | 6 | Year Built | 1924 |
| Property Type | Multifamily | ||
| Zoning | LARD2 | ||
| Price | $1,639,820 CAD |
| Price Per Unit | $273,303 CAD |
| Sale Type | Investment |
| Cap Rate | 5.77% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 10.5 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 2,984 SF |
| No. Stories | 1 |
| Year Built | 1924 |
| Zoning | LARD2 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $2,343 CAD | - |
| Studios | 1 | $1,767 CAD | - |
| Studios | 1 | $1,838 CAD | - |
| 1+1 | 1 | $2,122 CAD | - |
| 1+1 | 1 | $2,192 CAD | - |
| 1+1 | 1 | $2,749 CAD | - |
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Moderately walkable
70/100
Very drivable
80/100
Strong public transit
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5019-015-012 | Total Assessment | $922,304 CAD |
| Land Assessment | $768,588 CAD | Annual Taxes | $20,700 CAD ($6.94 CAD/SF) |
| Improvements Assessment | $153,716 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
5019-015-012
Land Assessment
$768,588 CAD
Improvements Assessment
$153,716 CAD
Total Assessment
$922,304 CAD
Annual Taxes
$20,700 CAD ($6.94 CAD/SF)
Tax Year
2025
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517 W 42nd Plz
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