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844 W Martin Luther King Jr Blvd 24 Unit Apartment Building $4,511,859 CAD ($187,994 CAD/Unit) 7.39% Cap Rate Los Angeles, CA 90037
Investment Highlights
- Opportunity to Buy 24 Units Near USC
- Electrical Panels Recently Replaced
- Priced at a 7.78 Gross Rent Multiplier
- Offered at a 7.39% CAP Rate
- Across the Street from the LA Coliseum
Executive Summary
844-846 W. Martin Luther King Junior Boulevard presents the opportunity to purchase two (2) contiguous 12-unit apartment buildings directly across the street from the LA Coliseum, home of the USC Trojans football games. The properties are conveniently located a short drive to the 110 Freeway and within walking distance to BMO Stadium which is the home of the LAFC soccer matches. The property boasts twenty-three (23) studio units and one (1) one-bedroom unit. Each unit is separately metered for electricity, and the exterior electrical panels were recently replaced on both buildings. The buildings are situated on a double lot of over 11,000 square feet of land zoned LAR3, which is suitable for future development.
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$580,188
|
$40.32
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$5,803
|
$0.40
|
| Effective Gross Income |
$574,386
|
$39.92
|
| Taxes |
$54,142
|
$3.76
|
| Operating Expenses |
$186,801
|
$12.98
|
| Total Expenses |
$240,943
|
$16.74
|
| Net Operating Income |
$333,443
|
$23.17
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $580,188 |
| Annual Per SF | $40.32 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $5,803 |
| Annual Per SF | $0.40 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $574,386 |
| Annual Per SF | $39.92 |
| Taxes (CAD) | |
|---|---|
| Annual | $54,142 |
| Annual Per SF | $3.76 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $186,801 |
| Annual Per SF | $12.98 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $240,943 |
| Annual Per SF | $16.74 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $333,443 |
| Annual Per SF | $23.17 |
Property Facts
| Price | $4,511,859 CAD | Property Subtype | Apartment |
| Price Per Unit | $187,994 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 7.39% | Lot Size | 0.26 AC |
| Sale Condition | 1031 Exchange | Building Size | 14,390 SF |
| Gross Rent Multiplier | 7.78 | Average Occupancy | 83% |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1924 |
| Zoning | R3, Los Angeles | ||
| Price | $4,511,859 CAD |
| Price Per Unit | $187,994 CAD |
| Sale Type | Investment |
| Cap Rate | 7.39% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 7.78 |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 14,390 SF |
| Average Occupancy | 83% |
| No. Stories | 2 |
| Year Built | 1924 |
| Zoning | R3, Los Angeles |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Hardwood Floors
- Sprinkler System
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Security System
- Tenant Controlled HVAC
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 23 | $1,988 CAD | 550 |
| 1+1 | 1 | $2,631 CAD | 600 |
1 1
Walk Score®
Very Walkable (88)
Transit Score®
Excellent Transit (73)
Bike Score®
Very Bikeable (74)
Property Taxes
| Parcel Number | 5019-001-025 | Total Assessment | $1,370,142 CAD (2025) |
| Land Assessment | $586,606 CAD (2025) | Annual Taxes | $54,142 CAD ($3.76 CAD/SF) |
| Improvements Assessment | $783,536 CAD (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
5019-001-025
Land Assessment
$586,606 CAD (2025)
Improvements Assessment
$783,536 CAD (2025)
Total Assessment
$1,370,142 CAD (2025)
Annual Taxes
$54,142 CAD ($3.76 CAD/SF)
Tax Year
2024
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844 W Martin Luther King Jr Blvd
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