9-Unit Renovated Apartment
1563 Gordon St, Los Angeles, CA 90028
For Sale
New
$2,700,000
Permitted upgrades include new kitchens and baths, rewired electrical service, copper plumbing, replacement windows, and split heat-pump systems.
Property Size6,282 SF
Price / SF$429.80
Days on Market2
Property Features for 1563 Gordon St
General Information
Standard status
Size
Property subtype
Occupancy
Financials
Asking Price
Cap Rate
Gross Rent Multiplier
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Amenities
Fully Permitted Renovation: kitchens and baths in every unit, a full rewire with a new 400-amp service, a copper repipe, new windows and eight split heat pumps, all permits finaled.
6.09% Cap Rate and 10.54 GRM: offered at $2,700,000, or $300,000 per unit and $429.80 per square foot.
9 Units: two two-bedrooms, six one-bedrooms and a studio added under permit with its own 2021 Certificate of Occupancy.
Seismic Retrofit Complete: soft-story retrofit with a City of Los Angeles Certificate of Compliance (2022), plus seismic gas shut-off valves.
Steps From Hollywood Studios: about 0.2 miles to Sunset Gower Studios and Netflix's Sunset Bronson campus, and 0.4 miles to the Metro B Line at Hollywood/Vine.
Building Details
Building Size
Year Built
Year Renovated
Units
Listing Agency:
Encino Office
Listed By:
Sam Liberow · License CA #02031850
(818) 212-2795
Source:
Marcusmillichap
Added: Nov 8
Last Checked: Nov 8 at 1:51AM
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
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Investment Insights
Based on property information with market context.
This 9-unit apartment property contains approximately 6,282 square feet and was built in 1957. Its unit mix comprises two two-bedroom apartments, six one-bedroom apartments, and a studio. Improvements completed under permit include new kitchens and bathrooms throughout, a full electrical rewire with 400-amp service, copper plumbing, replacement windows, and split heat-pump systems. Permits were finaled in 2021; the studio was also permitted and received its Certificate of Occupancy that year. A soft-story seismic retrofit was completed, with a City Certificate of Compliance issued in 2022.
The property is approximately 0.2 miles from Sunset Gower Studios and Netflix’s Sunset Bronson campus, and 0.4 miles from the Metro B Line at Hollywood/Vine. Reported operating metrics include a 6.09% cap rate and a 10.54 GRM.
The property is approximately 0.2 miles from Sunset Gower Studios and Netflix’s Sunset Bronson campus, and 0.4 miles from the Metro B Line at Hollywood/Vine. Reported operating metrics include a 6.09% cap rate and a 10.54 GRM.
Key Highlights
- 9 apartments across 6,282 square feet
- Unit mix: two 2‑bedroom units, six 1‑bedroom units, and one studio
- 2021 permitted improvements include kitchens, baths, electrical service, copper plumbing, windows, and split heat pumps
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,082
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,021,640
$2.0M
Cap Rate 7%
$1,444,029
$1.4M
Cap Rate 9%
$1,123,133
$1.1M
Market Conditions
NOI Build-Up for 6,282 SF
Gross rent
$199.8K $31.80/SF
− Vacancy
−$16.0K −$2.54/SF
EGI
$183.8K $29.26/SF
− OpEx
−$82.7K −$13.17/SF
NOI
$101.1K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,021,640
Cap Rate 7%
$1,444,029
Cap Rate 9%
$1,123,133
Alternative Uses
Best Use
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $101,082 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.62M
$2.29M – $3.06M
NOI $183,597 @ 7.0% cap · market cap 6.80%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
5,392
Businesses Nearby
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Business Placement
Demographics for 90028, CA
32,330
Population
22,344
Households
1.4
Avg Household Size
36
Median Age
49%
College-Educated
90%
High-School Grad
1.5 sq mi
ZIP Area
21,553
Density / Sq Mi
$59,393
Median Household Income
$45,325
Median Earnings
$1,839
Median Rent
$970,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Apartment building - Permitted upgrades include new kitchens and baths, rewired electrical service, copper plumbing, replacement windows, and split heat-pump systems.
Where is this apartment building located?
The property is located at 1563 Gordon St Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: 9 apartments across 6,282 square feet; Unit mix: two 2‑bedroom units, six 1‑bedroom units, and one studio; 2021 permitted improvements include kitchens, baths, electrical service, copper plumbing, windows, and split heat pumps
