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    5614 W Adams Blvd West Adams, CA 90016

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    For Sale
    $1,895,000

    Seven-unit multifamily property with rental upside and development potential.

    Type:Multifamily
    Property size:
    6,162 SF
    Added:
    Apr 3, 2026
    Days on Market:
    20
    Last Refresh:
    Apr 3 at 5:24 am

    Property Features for 5614 W Adams Blvd

    General Information

    Standard status
    Active
    Size
    6,162 SF
    Property subtype
    Multifamily

    We can help!

    Listing Contact
    Glen Scher

    Listing agent Glen Scher License #CA: 01962976

    Listing office Encino Office

    Listing date Apr 3, 2026

    Source Marcusmillichap

    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 Encino Office

    Overview

    West Adams Multifamily Investment Opportunity

    Located in the West Adams neighborhood, this seven-unit multifamily property was built in 1961. The property features all 2-bedroom, 1-bath units, averaging approximately 715 square feet each. Ownership has made substantial capital improvements since acquiring the property in 2022, including a new roof installation in 2022, backflow water preventer installation in 2023, major central plumbing upgrades in late 2023, landscaping investment, exterior painting, and re-stuccoing in 2024, and installation of a communal washer and dryer in 2024. Two units were fully remodeled in 2024 with permits, featuring new double-pane windows, flooring, kitchen cabinetry, appliances, in-unit washer and dryer, and mini-split HVAC systems. Two units are currently vacant, including one that has been fully demolished and passed rough mechanical, electrical, and plumbing (MEP) inspections. The unit has been retrofitted to accommodate a washer/dryer in the closet, dishwasher, oven range, hood, refrigerator, and mini-split HVAC system. In-place rents average approximately $1,945 per month. Additional highlights include a completed soft-story seismic retrofit with Certificate of Compliance issued in 2019, upgraded plumbing and electrical systems, tankless water heaters, and an on-site laundry room with owned machines. The site includes seven parking spaces (three covered, four uncovered). Zoned C2-1VL-CPIO and totaling 6,162 square feet, the property is located in a Tier 2 Transit Oriented Communities (TOC) area and a High Quality Transit Corridor, allowing for future density increases, mixed-use entitlement, or ADU additions. The lot configuration may support one or more detached ADUs. The property is walking distance to the La Cienega/Jefferson Metro Station, Cumulus District, and Whole Foods, with convenient access to Culver City, USC, Kaiser Permanente, and Downtown Los Angeles.
    Location Intelligence

    Current Use by Public Records

    The Star Apartment Building

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    West Adams
    County
    Los Angeles
    State
    California
    Longitude
    -118.36535
    Latitude
    34.03227

    FAQs

    What type of property is this?
    Apartment building - Seven-unit multifamily property with rental upside and development potential.
    Where is this apartment building located?
    The property is located at 5614 W Adams Blvd West Adams, CA.
    What is the asking price?
    The asking price for this property is $1,895,000.
    What are key features of this property?
    This property features: Significant Rental Upside: In‑place rents are approximately 20% below market.; Value‑Add Opportunity: Two vacant units, including one fully demolished and ready for custom renovation.; Recent Capital Improvements: Substantial upgrades completed since 2022, including a new roof, plumbing upgrades, landscaping, exterior painting, and communal laundry installation.
    (818) 212-2808
    We can help!
    Listing Contact
    Glen Scher
    Real Estate License ID: CA: 01962976
    Learn More
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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