7-Unit Apartment
For Sale
$2,095,000
1311 W Martin Luther King Jr Blvd, Los Angeles, CA 90037
Income-producing property near USC, LA Coliseum, and BMO Stadium with approved plans for four additional ADUs.
Property Size5,564 SF
Days on Market49
Property Features for 1311 W Martin Luther King Jr Blvd
General Information
Standard status
Active
Size
5,564 SF
Property subtype
MULTI_FAMILY
Financials
Cap Rate
8.5%
Opportunity Zone
Yes
Site & Location
Neighborhood
Vermont Square
Additional Details
Multifamily Units
7
Building Details
Building Size
5,564 SF
Year Built
1949
Buildings
1
Listing Agency:
Coldwell Banker Realty
Listed By:
Derrick Smith · License #02019367
Source:
Milsteinestates
Added: Sep 8
Changed: Oct 25
Last Checked: Oct 24 at 11:18PM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This 7-unit apartment property at 1311 W Martin Luther King Jr Blvd in Los Angeles was built in 1949 and is currently producing an 8.5% CAP rate. The sale includes approved Ready-to-Issue (RTI) plans for four additional ADUs at the rear, providing a documented path to expand the existing unit count.
The property is situated near the University of Southern California, LA Coliseum, and BMO Stadium. It is also located within an Opportunity Zone, a designation relevant to qualifying investment strategies. The combination of an operating multifamily asset, approved ADU plans, and proximity to established institutional and entertainment destinations gives the property a defined existing configuration with additional development plans already in place.
The property is situated near the University of Southern California, LA Coliseum, and BMO Stadium. It is also located within an Opportunity Zone, a designation relevant to qualifying investment strategies. The combination of an operating multifamily asset, approved ADU plans, and proximity to established institutional and entertainment destinations gives the property a defined existing configuration with additional development plans already in place.
Key Highlights
- 7‑unit apartment property built in 1949
- Currently generating an 8.5% CAP rate
- Approved Ready‑to‑Issue (RTI) plans for 4 additional ADUs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$82,624
Cap Rate
3.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,652,480
$1.7M
Cap Rate 7%
$1,180,343
$1.2M
Cap Rate 9%
$918,044
$918.0K
Market Conditions
NOI Build-Up for 5,564 SF
Gross rent
$151.3K $27.19/SF
− Vacancy
−$1.1K −$0.19/SF
EGI
$150.2K $27.00/SF
− OpEx
−$67.6K −$12.15/SF
NOI
$82.6K $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%
$1,652,480
Cap Rate 7%
$1,180,343
Cap Rate 9%
$918,044
Alternative Uses
Best Use
Apartment 5plus
$1.18M
$1.03M – $1.38M
NOI $82,624 @ 7.0% cap · market cap 3.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.18M
$1.91M – $2.54M
NOI $152,612 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
1,360
Businesses Nearby
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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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Income-producing property near USC, LA Coliseum, and BMO Stadium with approved plans for four additional ADUs.
Where is this apartment building located?
The property is located at 1311 W Martin Luther King Jr Blvd Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,095,000.
What are key features of this property?
This property features: 7‑unit apartment property built in 1949; Currently generating an 8.5% CAP rate; Approved Ready‑to‑Issue (RTI) plans for 4 additional ADUs
