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W 47th Street Apartments 526-534 W 47th St 19 Unit Apartment Building $4,653,503 CAD ($244,921 CAD/Unit) 6.46% Cap Rate Los Angeles, CA 90037
Investment Highlights
- 19 units across two buildings - Four vacant units- Two separate parcels
- Eighteen 1-bedroom units and one 3-bedroom unit
- No on-site manager generally required
- Near USC, Downtown Los Angeles and the 110 Freeway
- Approximately 46% rental upside
- Approximately 15,467 square feet of land
Executive Summary
526–534 W 47th Street presents an opportunity to acquire two neighboring apartment buildings totaling 19 units in a central Los Angeles location. The properties feature eighteen 1-bedroom/1-bathroom units and one 3-bedroom/1-bathroom unit, with approximately 11,953 square feet of building area situated on approximately 15,467 square feet of land. Four units are currently vacant, providing an incoming investor with the opportunity to renovate and lease the units while benefiting from the property’s existing income. Based on projected market rents, the property offers approximately 46% upside in scheduled rental income, increasing from approximately $356,568 to $521,400 annually. The offering consists of two separate parcels, each containing fewer than 16 units, which generally eliminates the state requirement for an on-site resident manager. Conveniently located near the 110 Freeway, USC, Exposition Park, the Los Angeles Memorial Coliseum and Downtown Los Angeles, this offering provides attractive scale, immediate vacant-unit potential and meaningful long-term rental upside.
Property Facts
| Price | $4,653,503 CAD | Property Subtype | Apartment |
| Price Per Unit | $244,921 CAD | Apartment Style | Garden |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.46% | Lot Size | 0.36 AC |
| Gross Rent Multiplier | 9.39 | Building Size | 11,953 SF |
| No. Units | 19 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1927 |
| Zoning | LARD2 - Restricted Density Multiple Dwelling | ||
| Price | $4,653,503 CAD |
| Price Per Unit | $244,921 CAD |
| Sale Type | Investment |
| Cap Rate | 6.46% |
| Gross Rent Multiplier | 9.39 |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 11,953 SF |
| No. Stories | 1 |
| Year Built | 1927 |
| Zoning | LARD2 - Restricted Density Multiple Dwelling |
Amenities
Unit Amenities
- Tile Floors
- Kitchen
- Oven
- Range
- Tub/Shower
- Window Coverings
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 18 | $2,612 CAD | 500 |
| 3+1 | 1 | $3,106 CAD | 600 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,205,731 CAD | |
| Land Assessment | $2,813,387 CAD | Total Assessment | $4,019,118 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$2,813,387 CAD
Improvements Assessment
$1,205,731 CAD
Total Assessment
$4,019,118 CAD
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W 47th Street Apartments | 526-534 W 47th St
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