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    Apartment Income Property with Covered Parking Title is generated by Realmo AI

    968 S New Hampshire Ave, Los Angeles, CA 90006

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    For Sale
    $2,334,000

    MULTI_FAMILY - Los Angeles, CA

    Property size:
    3,786 SF
    Lot size:
    0.14 Acres
    Price / SF:
    $616/SF
    Added:
    Jun 5, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 5 at 7:06 pm

    Property Features for 968 S New Hampshire Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    LAR4
    Bedrooms
    12
    Bathrooms
    6
    Rooms
    Bedroom 5, Bedroom 11, Bedroom 7, Bedroom 9, Bedroom 4, Bathroom 4, Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 12, Bathroom 1, Bedroom 6, Bedroom 2, Bedroom 1, Bathroom 6, Bathroom 5, Bedroom 8, Bedroom 10
    Parking
    6
    Parking features
    Assigned, Covered
    Standard status
    Active
    APN
    5078-009-016
    Size
    3,786 SF
    Lot size
    0.14 Acres

    Utilities

    Heating system
    Natural Gas

    Building Details

    Year built
    1964
    Floors in Building
    2
    Number of units
    6

    We can help!

    Listing Contact
    Johnny Cho

    Listing agent Johnny Cho License #01394690

    Listing office Keller Williams Realty Los Feliz 1660 Hillhurst Ave., Los Angeles, CA

    Listing date Jun 5, 2026

    MLS# 26843489 Listing URL

    Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Two adjacent income properties totaling 11 units on a combined 11,787 SF R4‑zoned lot
    • 964 unit mix: one 3bd/2ba unit and four 2bd/1ba units
    • 964 includes 6 covered side‑by‑side parking spaces in the rear
    • 968 unit mix: five 2bd/1ba units and one 1bd/1ba unit
    • 968 includes 6 covered side‑by‑side parking spaces in the rear plus 3 tandem parking spaces in the driveway
    • Natural gas heating; year built 1964; both properties must be sold concurrently

    Overview

    This offering includes two adjacent income properties with a combined total of 11 apartment units on an LAR4-zoned lot. The property at 964 S New Hampshire Ave features one spacious 3-bedroom, 2-bath unit and four 2-bedroom, 1-bath units, along with six covered side-by-side parking spaces in the rear. The property at 968 S New Hampshire Ave offers five 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit, plus six covered side-by-side parking spaces in the rear and three tandem parking spaces in the driveway. The combined site is sized at 0.1354 acres and is presented as a coordinated acquisition.

    The properties are located near Olympic Blvd and Vermont Ave in Los Angeles, CA, within Los Angeles County. The listing notes the buildings are minutes from Downtown Los Angeles.

    This configuration can fit an investor or developer seeking a combined portfolio of two adjacent apartment buildings while working within the property’s LAR4 zoning. Per the listing terms, both properties must be sold concurrently, which may support buyers looking for an all-at-once approach to unit count and site control.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.29235
    Latitude
    34.05362

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    FAQs

    What type of property is this?
    Apartment building - Two adjacent apartment buildings with 11 total units, covered parking, and LAR4 zoning sold concurrently.
    Where is this apartment building located?
    The property is located at 968 S New Hampshire Ave Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $2,334,000.
    What are key features of this property?
    This property features: Two adjacent income properties totaling 11 units on a combined 11,787 SF R4‑zoned lot; 964 unit mix: one 3bd/2ba unit and four 2bd/1ba units; 964 includes 6 covered side‑by‑side parking spaces in the rear
    (213) 819-1043
    We can help!
    Listing Contact
    Johnny Cho
    Real Estate License ID: 01394690
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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