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    1776 Rimpau Blvd Los Angeles, CA 90019

    Sponsored
    For Sale
    $8,500,000

    38-unit value-add opportunity in Los Angeles

    Property size:
    30,489 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This 38-unit apartment building, located at 1776 S Rimpau Blvd, Los Angeles, CA 90019, presents a compelling value-add investment opportunity. The property, built in 1962, comprises 30,489 square feet on a 37,528 square foot lot and features 32 one-bedroom, five two-bedroom, and one three-bedroom unit. With a current NOI of $376,373 and a pro-forma NOI of $664,742, the property offers a 4.43% cap rate and a pro-forma cap rate of 7.82%. The asking price is $8,500,000, translating to $278.79 per square foot and $223,684.21 per unit. The building benefits from a desirable 1.18:1 parking ratio and on-site laundry facilities. A soft-story parking retrofit has already been completed. The property's location in the Mid-City neighborhood provides convenient access to shopping, restaurants, museums, and entertainment options in Mid-City, Miracle Mile, West Adams, and Koreatown. The potential for adding Accessory Dwelling Units (ADUs) further enhances the long-term growth potential. This is a rare opportunity to acquire a significant presence in a sought-after Los Angeles submarket poised for rent growth. The property is zoned LARD1.5.

    Property Features for 1776 Rimpau Blvd

    General Information

    Property type
    Multifamily properties
    Square Feet
    30,489 SF

    Building Details

    Year Built
    1962
    Buildings
    1
    Stories
    2
    Units
    38

    HighLights

    • 38‑unit apartment building in desirable Mid‑City Los Angeles, offering a value‑add opportunity.
    • $8.5M asking price, representing a $278.79/SF and $223,684.21 per unit cost. Current NOI of $376,373, pro‑forma NOI of $664,742, resulting in a 4.43% cap rate and a pro‑forma cap rate of 7.82%.
    • Completed soft‑story parking retrofit, saving buyer significant capital and time. 1.18:1 parking ratio and on‑site laundry.
    • Prime location near Country Club Park, Lafayette Square, and Miracle Mile, benefiting from spillover demand and rent growth potential. Zoned LARD1.5.
    • Potential for adding Accessory Dwelling Units (ADUs) to increase future value. Building features 32 one‑bedroom, five two‑bedroom, and one three‑bedroom units.
    Property Profile Location Intelligence

    Current Use by Public Records

    CBD Oil Cannabis ... Cannabis Store

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    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
    -118.34178073972
    Latitude
    34.043304555956

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    FAQs

    What type of property is this?
    Multifamily property - 38-unit value-add opportunity in Los Angeles
    Where is this multifamily property located?
    The property is located at 1776 Rimpau Blvd Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $8,500,000.
    What are key features of this property?
    This property features: 38-unit apartment building in desirable Mid-City Los Angeles, offering a value-add opportunity.; $8.5M asking price, representing a $278.79/SF and $223,684.21 per unit cost. Current NOI of $376,373, pro-forma NOI of $664,742, resulting in a 4.43% cap rate and a pro-forma cap rate of 7.82%.; Completed soft-story parking retrofit, saving buyer significant capital and time. 1.18:1 parking ratio and on-site laundry.
    Request Owner's contact information
    1776 Rimpau Blvd Los Angeles, CA 90019
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    1776 Rimpau Blvd Los Angeles, CA 90019
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