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6705 De Longpre Ave 20 Unit Apartment Building $5,192,100 CAD ($259,605 CAD/Unit) 5.45% Cap Rate Los Angeles, CA 90028
Executive Summary
The Azzi Group of Marcus & Milichap is pleased to present the opportunity to acquire 6705 De Longpre Ave, a 20-unit multifamily apartment building in the Hollywood submarket of Los Angeles, CA 90028.
Offered at $3.75 million ($187,500 per unit), this 20-unit studio community presents investors with an attractive basis in one of Los Angeles' most established multifamily submarkets. Studio rent comparable support the projected underwriting, with average asking rents of approximately $1,563, providing a clear path for future rental growth and revenue upside. The property benefits from a highly walkable location near both Sunset Boulevard and Hollywood Boulevard, offering residents convenient access to popular dining, shopping, entertainment, and neighborhood amenities. Ownership has completed several key capital improvements, including new electrical panels and new community laundry machines, helping to reduce future capital expenditure requirements. Additionally, the property offers 20 on-site parking spaces—one space per unit—a highly desirable amenity in the competitive Hollywood rental market.
Offered at $3.75 million ($187,500 per unit), this 20-unit studio community presents investors with an attractive basis in one of Los Angeles' most established multifamily submarkets. Studio rent comparable support the projected underwriting, with average asking rents of approximately $1,563, providing a clear path for future rental growth and revenue upside. The property benefits from a highly walkable location near both Sunset Boulevard and Hollywood Boulevard, offering residents convenient access to popular dining, shopping, entertainment, and neighborhood amenities. Ownership has completed several key capital improvements, including new electrical panels and new community laundry machines, helping to reduce future capital expenditure requirements. Additionally, the property offers 20 on-site parking spaces—one space per unit—a highly desirable amenity in the competitive Hollywood rental market.
Property Facts
| Price | $5,192,100 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $259,605 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.27 AC |
| Cap Rate | 5.45% | Building Size | 12,821 SF |
| Gross Rent Multiplier | 10.48 | No. Stories | 2 |
| No. Units | 20 | Year Built | 1951 |
| Property Type | Multifamily | Parking Ratio | 2.43/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R4-2, Los Angeles - Residential | ||
| Price | $5,192,100 CAD |
| Price Per Unit | $259,605 CAD |
| Sale Type | Investment |
| Cap Rate | 5.45% |
| Gross Rent Multiplier | 10.48 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 12,821 SF |
| No. Stories | 2 |
| Year Built | 1951 |
| Parking Ratio | 2.43/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R4-2, Los Angeles - Residential |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
- Laundry Facilities
- Security System
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 20 | - | 450 |
Very walkable
80/100
Moderately drivable
70/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5547-021-019 | Improvements Assessment | $553,708 CAD |
| Land Assessment | $760,749 CAD | Total Assessment | $1,314,457 CAD |
Property Taxes
Parcel Number
5547-021-019
Land Assessment
$760,749 CAD
Improvements Assessment
$553,708 CAD
Total Assessment
$1,314,457 CAD
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6705 De Longpre Ave
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