Echo Park Multifamily Investment
940 New Depot St, Los Angeles, CA 90012
For Sale
Contact for pricing
Well-maintained 7-unit property with income and development potential.
Property Size6,060 SF
Lot Size0.14 Acres
Price / SF$543.73
Days on Market391
Property Features for 940 New Depot St
General Information
Standard status
Size
Class
Lot size
Property subtype
Zoning
Occupancy
Investment Type
Net Operating Income
Site & Location
Neighborhood
Building Details
Year Built
Year Renovated
Buildings
Stories
Units
Listing Agency:
eXp Realty
Listed By:
susie achury · License CA #02121881
(323) 304-8737
Source:
Crexi
Added: Oct 21, 2025
Changed: Aug 8
Last Checked: Aug 25 at 5:13AM
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 eXp Realty
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Investment Insights
Based on property information with market context.
Located in the Echo Park neighborhood of Los Angeles, 940 New Depot Street is a well-maintained 7-unit multifamily property. Constructed in 1983, the building encompasses approximately 6,060 square feet and is situated on a 6,091 square foot LAR4-zoned lot. The property features gated on-site parking and community laundry facilities. The unit mix includes one, two, three, and four-bedroom layouts. One unit is currently vacant. Several interior and exterior updates have been completed. The location offers convenient access to Downtown Los Angeles, major employment centers, transit options, and neighborhood amenities. The property is suitable for investors seeking stabilized income, value-add opportunities, or long-term redevelopment potential.
Key Highlights
- Well‑maintained 7‑unit multifamily property in Echo Park.
- LAR4 zoning offers future development possibilities (buyer to verify).
- Diverse unit mix of 1, 2, 3, and 4‑bedroom layouts supports strong leasing demand.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$97,510
Cap Rate
2.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,950,200
$2.0M
Cap Rate 7%
$1,393,000
$1.4M
Cap Rate 9%
$1,083,444
$1.1M
Market Conditions
NOI Build-Up for 6,060 SF
Gross rent
$192.7K $31.80/SF
− Vacancy
−$15.4K −$2.54/SF
EGI
$177.3K $29.26/SF
− OpEx
−$79.8K −$13.17/SF
NOI
$97.5K $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%
$1,950,200
Cap Rate 7%
$1,393,000
Cap Rate 9%
$1,083,444
Alternative Uses
Best Use
Apartment 5plus
$1.39M
$1.22M – $1.63M
NOI $97,510 @ 7.0% cap · market cap 2.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.53M
$2.21M – $2.95M
NOI $177,109 @ 7.0% cap · market cap 5.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,940
Businesses Nearby
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Business Placement
Demographics for 90012, CA
33,851
Population
16,541
Households
2
Avg Household Size
37
Median Age
39%
College-Educated
77%
High-School Grad
3.6 sq mi
ZIP Area
9,403
Density / Sq Mi
$67,635
Median Household Income
$44,901
Median Earnings
$2,116
Median Rent
$686,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 - Well-maintained 7-unit property with income and development potential.
Where is this apartment building located?
The property is located at 940 New Depot St Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,295,000.
What are key features of this property?
This property features: Well‑maintained 7‑unit multifamily property in Echo Park.; LAR4 zoning offers future development possibilities (buyer to verify).; Diverse unit mix of 1, 2, 3, and 4‑bedroom layouts supports strong leasing demand.
