Property Detail

Description

Exceptional investment opportunity in the heart of Pico-Union, Los Angeles. This well-maintained 12-unit multifamily property at 1035 W 17th Street offers stable cash flow with significant upside potential. Built in 1964, the property sits on a 9,365 SF lot with 10,520 SF of rentable space, featuring a desirable unit mix of studios, one-bedroom, and two-bedroom apartments. Currently operating at 100% occupancy with all tenants on a month-to-month basis, providing maximum flexibility for future rent adjustments. The property has been owned by the same family since 1982 and has undergone key capital improvements including seismic retrofitting and plumbing upgrades — both permits in place. The current cap rate is 6.78% with a pro forma cap rate of 9.78%, reflecting substantial rental upside as current rents remain well below market rate. Self-managed with no management fee, keeping operating expenses lean. Conveniently located minutes from Downtown Los Angeles, the 110 Freeway, L.A. LIVE, and Crypto.com Arena. $2,000,000 Now $1,900,000 | 12 Units | Cap Rate: 6.78% | Pro Forma Cap: 9.78% | Price/Unit: $158,333