Multifamily Development
For Sale
Contact for pricing
1850 1st Street, Los Angeles, CA 90033
A Los Angeles development opportunity in a transit-accessible residential setting, with incentives that may support an estimated 79 units.
Property Size9,500 SF
Price / SF$399.47
Days on Market64
Property Features for 1850 1st Street
General Information
Standard status
Active
Size
9,500 SF
Property subtype
Retail, Multifamily, Mixed Use
Listing Agency:
CBRE - Downtown Los Angeles
(213) 613-3222
Listed By:
Derrick Moore · License #CA - 01029938
Source:
Crexi
Added: Jun 4
Changed: Jul 10
Last Checked: Aug 5 at 1:41PM
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 CBRE - Downtown Los Angeles
Investment Insights
Based on property information with market context.
This for-sale site at 1850 1st Street, Los Angeles, CA 90033 is positioned for multifamily development. Public remarks note the buyer may be able to leverage incentives under AB 1763 and the City of Los Angeles ED-1 program. Subject to project size and other design elements, the remarks estimate the potential for approximately 79 units.
The property is described as being in a strong residential area with convenient access to public transportation and nearby retail amenities. The combination of transit accessibility and surrounding neighborhood retail supports a practical, livable tenant environment.
For qualified buyers and development partners, the opportunity centers on the ability to pursue incentive-driven planning under the referenced programs. Any unit count, program outcome, and final project design would be dependent on size and design elements as stated in the remarks, making due diligence on site requirements and the application process an important next step.
The property is described as being in a strong residential area with convenient access to public transportation and nearby retail amenities. The combination of transit accessibility and surrounding neighborhood retail supports a practical, livable tenant environment.
For qualified buyers and development partners, the opportunity centers on the ability to pursue incentive-driven planning under the referenced programs. Any unit count, program outcome, and final project design would be dependent on size and design elements as stated in the remarks, making due diligence on site requirements and the application process an important next step.
Key Highlights
- Development opportunity in Los Angeles within a residential setting.
- Buyer may be able to leverage incentives under AB 1763.
- Buyer may also be able to leverage the City of Los Angeles ED‑1 program.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $351.1k | $36.96 |
| − Vacancy | −$36.2k | −$3.81 |
| EGI | $315.0k | $33.15 |
| − OpEx | −$94.5k | −$9.95 |
| NOI | $220.5k | $23.21 |
9,500 SF · lease $36.96/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Apartment 5plus
$167.95M
$146.96M – $195.95M
NOI $11,756,764 @ 7.0% cap · market cap 309.80%
Second Best
Retail
$3.15M
$2.76M – $3.67M
NOI $220,468 @ 7.0% cap · market cap 5.81%
Theoretical Best
Multifamily LT 5
$192.46M
$168.41M – $224.54M
NOI $13,472,501 @ 7.0% cap · market cap 355.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,102
Businesses Nearby
Explore this area
Business Placement
Demographics for 90033, CA
46,081
Population
13,874
Households
3.3
Avg Household Size
32
Median Age
14%
College-Educated
54%
High-School Grad
3.3 sq mi
ZIP Area
13,964
Density / Sq Mi
$56,001
Median Household Income
$29,600
Median Earnings
$1,391
Median Rent
$669,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - A Los Angeles development opportunity in a transit-accessible residential setting, with incentives that may support an estimated 79 units.
Where is this apartment building located?
The property is located at 1850 1st Street Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,795,000.
What are key features of this property?
This property features: Development opportunity in Los Angeles within a residential setting.; Buyer may be able to leverage incentives under AB 1763.; Buyer may also be able to leverage the City of Los Angeles ED‑1 program.
