2019 Eight-Unit Apartment
For Sale
$2,025,000
1135 Leighton Avenue, Los Angeles, CA 90037
Newly built eight-unit multifamily property with individually metered utilities and tenant-paid operating expenses.
Property Size5,442 SF
Lot Size0.32 Acres
Price / SF$372.11
Days on Market248
Property Features for 1135 Leighton Avenue
General Information
Standard status
Active
Size
5,442 SF
Total Parking Spaces
4
Lot size
0.32 Acres
Property subtype
Residential Income
Zoning
LARD1.5
Net Operating Income
$142,014
Additional Details
Opportunity Zone
Yes
Multifamily Units
8
Amenities
Two
Central
Washer Included
Dishwasher, Electric Dryer Hookup, Washer, Microwave, Range/Oven, Refrigerator
No
Building Details
Year Built
2018
Buildings
2
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Compass
Listed By:
John Swartz · License #01873487
(310) 779-9929
Source:
Compass
Added: Feb 14
Changed: Oct 11
Last Checked: Oct 19 at 8:45AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
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Investment Insights
Based on property information with market context.
1135 Leighton Avenue is an eight-unit apartment building constructed in 2019, totaling approximately 10,887 rentable square feet across two parcels totaling approximately 13,776 square feet. The property is zoned RD1.5-1-CPIO and is within a federally designated Qualified Opportunity Zone (QOZ). Each of the eight units is a three-bedroom, three-bath layout and includes an individually metered gas and electricity setup, along with a tankless water heater. Tenants are responsible for water, trash, gas, and electricity expenses, helping keep ownership utility obligations minimal. The property is subject to the Los Angeles Rent Stabilization Ordinance (LARSO).
This offering is for sale in conjunction with 3944 South Budlong Avenue, and both properties must be sold together.
With a total of eight modern residences, the building is suited for buyers seeking a small, operationally straightforward multifamily asset with clear unit-level metering and resident-paid utilities. The combination of recent construction, QOZ designation, and LARSO applicability provides important planning considerations for long-term operations in the Exposition Park area of Los Angeles.
This offering is for sale in conjunction with 3944 South Budlong Avenue, and both properties must be sold together.
With a total of eight modern residences, the building is suited for buyers seeking a small, operationally straightforward multifamily asset with clear unit-level metering and resident-paid utilities. The combination of recent construction, QOZ designation, and LARSO applicability provides important planning considerations for long-term operations in the Exposition Park area of Los Angeles.
Key Highlights
- Newly built 8‑unit multifamily property constructed in 2019 with approximately 10,887 SF of rentable building area
- Two‑parcel site totaling approximately 13,776 SF; zoned RD1.5‑1‑CPIO
- All units are 3‑bedroom, 3‑bath with individual gas and electric meters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,813
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,616,260
$1.6M
Cap Rate 7%
$1,154,471
$1.2M
Cap Rate 9%
$897,922
$897.9K
Market Conditions
NOI Build-Up for 5,442 SF
Gross rent
$148.0K $27.19/SF
− Vacancy
−$1.0K −$0.19/SF
EGI
$146.9K $27.00/SF
− OpEx
−$66.1K −$12.15/SF
NOI
$80.8K $14.85/SF
Area
ZIP 90037
Vacancy
0.70%
Lease Rate
$27.19 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,616,260
Cap Rate 7%
$1,154,471
Cap Rate 9%
$897,922
Alternative Uses
Best Use
Apartment 5plus
$1.15M
$1.01M – $1.35M
NOI $80,813 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.13M
$1.87M – $2.49M
NOI $149,266 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,164
Businesses Nearby
Explore this area
Business Placement
Demographics for 90037, CA
63,706
Population
18,709
Households
3.4
Avg Household Size
33
Median Age
9%
College-Educated
54%
High-School Grad
2.9 sq mi
ZIP Area
21,968
Density / Sq Mi
$56,417
Median Household Income
$29,857
Median Earnings
$1,438
Median Rent
$632,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Newly built eight-unit multifamily property with individually metered utilities and tenant-paid operating expenses.
Where is this apartment building located?
The property is located at 1135 Leighton Avenue Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,025,000.
What are key features of this property?
This property features: Newly built 8‑unit multifamily property constructed in 2019 with approximately 10,887 SF of rentable building area; Two‑parcel site totaling approximately 13,776 SF; zoned RD1.5‑1‑CPIO; All units are 3‑bedroom, 3‑bath with individual gas and electric meters
