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844 W Martin Luther King Jr Blvd 24 Unit Apartment Building $4,543,374 CAD ($189,307 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 |
$584,241
|
$40.60
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$5,843
|
$0.41
|
| Effective Gross Income |
$578,398
|
$40.19
|
| Taxes |
$54,520
|
$3.79
|
| Operating Expenses |
$188,105
|
$13.07
|
| Total Expenses |
$242,626
|
$16.86
|
| Net Operating Income |
$335,772
|
$23.33
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $584,241 |
| Annual Per SF | $40.60 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $5,843 |
| Annual Per SF | $0.41 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $578,398 |
| Annual Per SF | $40.19 |
| Taxes (CAD) | |
|---|---|
| Annual | $54,520 |
| Annual Per SF | $3.79 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $188,105 |
| Annual Per SF | $13.07 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $242,626 |
| Annual Per SF | $16.86 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $335,772 |
| Annual Per SF | $23.33 |
PROPERTY FACTS
| Price | $4,543,374 CAD | Property Subtype | Apartment |
| Price Per Unit | $189,307 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 | $4,543,374 CAD |
| Price Per Unit | $189,307 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 | $2,002 CAD | 550 |
| 1+1 | 1 | $2,649 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 | $1,408,303 CAD (2025) |
| Land Assessment | $602,944 CAD (2025) | Annual Taxes | $54,520 CAD ($3.79 CAD/SF) |
| Improvements Assessment | $805,359 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
5019-001-025
Land Assessment
$602,944 CAD (2025)
Improvements Assessment
$805,359 CAD (2025)
Total Assessment
$1,408,303 CAD (2025)
Annual Taxes
$54,520 CAD ($3.79 CAD/SF)
Tax Year
2024
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844 W Martin Luther King Jr Blvd
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