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    650 S La Jolla Ave Los Angeles, CA 90048

    Sponsored
    For Sale
    $4,850,000

    12-unit apartment complex, high rental demand.

    Property size:
    12,201 SF

    Description

    Added:
    Jan 16, 2025
    Days on Market:
    360
    This exceptional 12-unit multi-family apartment complex, located at 650 S La Jolla Ave, Los Angeles, CA 90048, presents a compelling investment opportunity. The property boasts a total building size of 12,201 square feet, situated on a 0.29-acre lot. Each of the twelve units offers 1,100 square feet of living space, complete with a private balcony or patio, in-unit washer and dryer, central heating, and assigned parking. Recent upgrades include a fresh exterior paint job, a new 400-amp main panel and switchgear, new electrical meters, and an upgraded sewer system. Parking is provided by four carport spaces, one additional storage space, and an additional 3-4 surface lot spaces. Four basement areas offer convenient storage and house shutoff valves and central heating units. The property's current occupancy rate is 90%. Two Accessory Dwelling Units (ADUs) have already been successfully added via carport conversion, and the property is well-positioned to add up to six more ADUs under the AB1211 law, significantly increasing its value and rental income potential. Its prime location near popular restaurants and nightlife ensures high rental demand. This property is offered at $4,850,000.

    Property Features for 650 S La Jolla Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    12,201 SF
    Price / Square Foot
    $397
    Class
    C
    Total Parking Spaces
    7
    Elevators
    N/A
    Lot Size
    12,632 SF
    Occupancy
    90%

    Building Details

    Year Built
    1928
    Buildings
    1
    Stories
    2
    Units
    12

    HighLights

    • Prime Los Angeles location near restaurants and nightlife, ensuring high rental demand.
    • Twelve 1,100 sq ft units, each with private balcony/patio, in‑unit laundry, and parking.
    • Significant upside potential: Existing ADUs plus potential for six more under AB1211.
    Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Food Market Clothing Store Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    State
    California
    Longitude
    -118.367879
    Latitude
    34.064516

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    FAQs

    What type of property is this?
    Multifamily property - 12-unit apartment complex, high rental demand.
    Where is this multifamily property located?
    The property is located at 650 S La Jolla Ave Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $4,850,000.
    What are key features of this property?
    This property features: Prime Los Angeles location near restaurants and nightlife, ensuring high rental demand.; Twelve 1,100 sq ft units, each with private balcony/patio, in-unit laundry, and parking.; Significant upside potential: Existing ADUs plus potential for six more under AB1211.
    (818) 292-1346
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    650 S La Jolla Ave Los Angeles, CA 90048
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    Los Angeles, CA 90048
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    650 S La Jolla Ave Los Angeles, CA 90048
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