940 New Depot, Los Angeles, CA
7-Unit Echo Park Multifamily with Upside | LAR4 Zoning | Parking + Upgrades
Marketing description
940 New Depot Street is a well-maintained 7-unit multifamily property located in the Echo Park neighborhood of Los Angeles. Built in 1983, the ±6,060 SF building is situated on a ±6,091 SF LAR4-zoned lot, offering both stable rental income and future development possibilities (buyer to verify). The property includes gated on-site parking and community laundry facilities.
The unit mix consists of one-, two-, three-, and four-bedroom layouts, supporting strong leasing demand and tenant stability. 1 unit is currently vacant, providing immediate lease-up potential or flexibility for improvements to increase future income. Several interior and exterior updates have been completed, enhancing overall appeal and reducing near-term maintenance needs.
This location provides convenient access to Downtown Los Angeles, major employment centers, transit options, and neighborhood amenities. The area continues to show strong rental demand and long-term market fundamentals, making this property suitable for investors seeking stabilized income, value-add opportunities, or long-term redevelopment potential. Buyer to conduct their own due diligence and verify all information.
Investment highlights
7-Unit Multifamily Investment — ±6,060 SF building on an ±6,091 SF LAR4 lot
Value-Add Opportunity — 1 vacant unit provide immediate lease-up or renovation upside
Current Cap Rate ≈3.0% | Pro Forma Cap Rate ≈4.25%
Balanced Unit Mix — (1) 4BD/1BA, (2) 3BD/2BA, (1) 2BD/1BA, (3) 1BD/1BA
Recent Improvements — Interior and exterior updates enhance building condition and curb appeal
Gated On-Site Parking + Shared Laundry — Convenience for tenants and supplemental income potential
Prime Echo Park Location — Minutes to Downtown LA, Dodger Stadium, Sunset Blvd, transit, and major freeways
Zoned LAR4 — Allows long-term redevelopment or density-bonus potential (buyer to verify)
Low-Maintenance, Stabilized Asset — Strong tenant demand and favorable neighborhood fundamentals
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