4200 6th Ave - Apartments FOR SALE


Los Angeles, CA 90008- Leimert Park
$1,595,000 USD
925-683-9203
4200 6th Ave, Los Angeles, CA for Sale
$1,595,000 USD
Apartments - FOR SALE
1/11
null | 5.87% Cap Rate

4200 6th Ave
Los Angeles, CA 90008
Leimert Park


HIGHLIGHTS

  • Well maintained asset with significant upside - 23% organic upside in rents
  • Opportunity to Add 4 ADU units to the site (Buyer to Verify)
  • Sought After Leimert Park Location
  • Large oversized Lot with off-street parking
  • (8) on-site parking spaces

OVERVIEW

Classic Six Units in Leimert Park with Massive ADU Potential: 4200 6th Avenue presents a rare value-add opportunity in the heart of Leimert Park, one of Los Angeles’ most culturally significant and rapidly improving neighborhoods. Sitting on an expansive corner lot, this charming 1929 Spanish-style 6-unit apartment building offers immediate cash flow with meaningful upside through organic rent growth and a high-impact ADU redevelopment strategy. The property features an ideal unit mix comprised of four (4) 2BD/1BA units and two (2) 1BD/1BA units, with classic Spanish curb appeal, a welcoming courtyard vibe, and on-site parking/garages. The current rent roll offers approximately 23% organic upside through mark-to-market rental growth as units naturally turn, creating a clear path to increased NOI without needing aggressive repositioning. Beyond rent growth, the real story here is the long-term development upside: the site supports the potential to add four (4) detached ADU units (conceptual), creating a compelling opportunity to dramatically expand the income stream and future value. The ADU pro forma scenario pushes total scheduled income to approximately $259,920/year, positioning this asset as a true hybrid play. Upgrades: 1) Electrical Upgrade - Electrical system upgraded with 60A sub-panel feed installation, new feeders run in 1” flex conduit, and grounding/bonding corrections including two 10’ ground rods and #4 solid grounding to rods and cold-water bond. Work included load calculations for the existing 200A service and permit coordination. 2) Two (2) Full interior unit remodels refinished hardwood floors, paint, upgraded appliances, ceiling fans and redid the shower, bathroom floors and mini split. 3) Foundation bolted and re-enforced 4) Painted Exterior of Building 5) New white coat on the flat roof

FOR SALE DETAILS

PRICE

$1,595,000 USD

PRICE/SF

$302 USD /SF

# OF UNITS

6

PRICE/UNIT

$265,833

CAP RATE

5.87%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

5.87% Cap Rate w/ Opportunity to Add 4 ADU's

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1929

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,668 SF

ZONING

LAR3

APN/PARCEL ID

5023-028-042

ASK ABOUT THIS PROPERTY

Drew McAllisterNRE CommercialMore Info
925-683-9203

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Drew McAllisterNRE CommercialMore Info
925-683-9203

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.