24-Unit Courtyard Apartment
2614 Griffin Avenue, Los Angeles, CA 90031
For Sale
$3,880,000
An elevator-served residential property combines a courtyard layout with seismic and roof improvements.
Property Size14,359 SF
Price / SF$270.21
Days on Market285
Property Features for 2614 Griffin Avenue
General Information
Standard status
Size
Elevators
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Building Details
Building Size
Year Built
Buildings
Construction
Listing Agency:
DENGO INVESTMENT INC.
(626) 589-5008
Listed By:
ANDY DENG · License CA #01297692
(626) 448-6666
Source:
Thecorralesgroup
Added: Jan 29
Changed: Nov 7
Last Checked: Nov 8 at 7:39PM
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 DENGO INVESTMENT INC.
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Investment Insights
Based on property information with market context.
This 24-unit apartment property contains 14,359 square feet across one-bedroom, one-bathroom residences arranged around a courtyard. The elevator-served building was constructed in 1970 and has undergone a seismic retrofit; its roof was also replaced recently.
The property is at 2614 Griffin Avenue in Los Angeles, California. Its unit mix is consistent throughout, with each apartment configured as a one-bedroom, one-bathroom residence.
The property is at 2614 Griffin Avenue in Los Angeles, California. Its unit mix is consistent throughout, with each apartment configured as a one-bedroom, one-bathroom residence.
Key Highlights
- 24 apartments, each with one bedroom and one bathroom
- 14,359 square feet
- Courtyard‑style building layout with elevator service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$231,048
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,620,960
$4.6M
Cap Rate 7%
$3,300,686
$3.3M
Cap Rate 9%
$2,567,200
$2.6M
Market Conditions
NOI Build-Up for 14,359 SF
Gross rent
$456.6K $31.80/SF
− Vacancy
−$36.5K −$2.54/SF
EGI
$420.1K $29.26/SF
− OpEx
−$189.0K −$13.17/SF
NOI
$231.0K $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%
$4,620,960
Cap Rate 7%
$3,300,686
Cap Rate 9%
$2,567,200
Alternative Uses
Best Use
Apartment 5plus
$3.30M
$2.89M – $3.85M
NOI $231,048 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.00M
$5.25M – $6.99M
NOI $419,654 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
24
Residential units
Location Intelligence
Trade Area within ½ mile
1,476
Businesses Nearby
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Business Placement
Demographics for 90031, CA
37,333
Population
12,686
Households
2.9
Avg Household Size
37
Median Age
24%
College-Educated
66%
High-School Grad
3.5 sq mi
ZIP Area
10,667
Density / Sq Mi
$62,119
Median Household Income
$34,356
Median Earnings
$1,487
Median Rent
$758,500
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Los Angeles, CA
Properties on Market for Apartment buildings in Los Angeles
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - An elevator-served residential property combines a courtyard layout with seismic and roof improvements.
Where is this apartment building located?
The property is located at 2614 Griffin Avenue Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,880,000.
What are key features of this property?
This property features: 24 apartments, each with one bedroom and one bathroom; 14,359 square feet; Courtyard‑style building layout with elevator service
