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5274-5278 Ithaca Ave 9 Unit Apartment Building $2,253,339 CAD ($250,371 CAD/Unit) 7.23% Cap Rate Los Angeles, CA 90032
Investment Highlights
- Excellent cash flow opportunity
- Excellent unit mix consisting of (4) 2 Bed/1 Bath, (4) 1 Bed/1 Bath, and (1) 3 Bed/1 Bath units.
- Located in El Sereno, an excellent pocket of Los Angeles just northeast of Downtown Los Angeles and south of Pasadena.
- Large 9,601 square foot lot zoned LARD1.5
Executive Summary
Located in the growing community of El Sereno, 5274 Ithaca Ave is a well-positioned 9-unit apartment building offered at $1,650,000. With a strong 7.23% Cap Rate and 8.59 GRM, this property provides immediate income along with long-term potential.
The unit mix includes (1) 3-bed/1-bath, (4) 2-bed/1-bath, and (4) 1-bed/1-bath units spread across 5,439 square feet of living space. A large lot offers ADU development potential for added upside (buyer to verify).
An excellent investment in a rapidly developing pocket of Northeast LA, with convenient access to Downtown, Highland Park, and surrounding neighborhoods.
The unit mix includes (1) 3-bed/1-bath, (4) 2-bed/1-bath, and (4) 1-bed/1-bath units spread across 5,439 square feet of living space. A large lot offers ADU development potential for added upside (buyer to verify).
An excellent investment in a rapidly developing pocket of Northeast LA, with convenient access to Downtown, Highland Park, and surrounding neighborhoods.
Property Facts
| Price | $2,253,339 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $250,371 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.22 AC |
| Cap Rate | 7.23% | Building Size | 5,439 SF |
| Gross Rent Multiplier | 8.59 | No. Stories | 2 |
| No. Units | 9 | Year Built | 1963 |
| Property Type | Multifamily | Parking Ratio | 1.33/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RD1.5, Los Angeles | ||
| Price | $2,253,339 CAD |
| Price Per Unit | $250,371 CAD |
| Sale Type | Investment |
| Cap Rate | 7.23% |
| Gross Rent Multiplier | 8.59 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 5,439 SF |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.33/1,000 SF |
| Zoning | RD1.5, Los Angeles |
Amenities
Unit Amenities
- Microwave
- Kitchen
- Granite Countertops
- Hardwood Floors
- Stainless Steel Appliances
- Smoke Free
Site Amenities
- 24 Hour Access
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 4 | - | - |
| 3+1 | 1 | - | - |
1 1
Fairly walkable
50/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 5217-018-005 | Improvements Assessment | $790,956 CAD |
| Land Assessment | $1,467,578 CAD | Total Assessment | $2,258,533 CAD |
Property Taxes
Parcel Number
5217-018-005
Land Assessment
$1,467,578 CAD
Improvements Assessment
$790,956 CAD
Total Assessment
$2,258,533 CAD
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5274-5278 Ithaca Ave
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