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31721827
31721838

1565 W 51st, Los Angeles, CA 90062

AC
CA CA 01927702
Keller Williams
Listed by Keller Williams
$1,025,000
55 days on market
Updated 36 days ago

1565 W 51st

Details
APN 5016035011
Property Type Multifamily
Sub Type Apartment Building
Square Footage 13,502
Net Rentable (SqFt) 3,338
Units 4
Cap Rate 3.3%
NOI $33,802
Occupancy 100%
Pro-Forma Cap Rate 6.28%
Pro-Forma NOI $64,392
Price per SqFt $76
Class C
Year Built 1923
Buildings 4
Stories 1
Lot Size (SqFt) 13,502
Zoning LAR2
Parking Spaces 10 spaces
Parking Per SqFt 0.74
Investment Type Value Add
Ground Lease No
Ownership fee simple

4 Units | 13,500 SF Lot | Rent Spread + Owner-User Flexibility

Marketing description

1565 W 51st Street is a four-unit multifamily property situated on a 13,504 SF LAR2 lot. The property consists of two (2) two-bedroom/one-bathroom units and two (2) one-bedroom/one-bathroom units per public record. The improvements are spread across four separate structures. All units are currently configured and operating as two-bedroom layouts, including a front unit featuring a two-bedroom plus den layout, with the den currently utilized as a third bedroom. The building totals approximately 3,626 square feet and was originally constructed in 1922. The property features a long driveway with access from the street to the rear, along with alley access, and provides approximately ten (10) on-site parking spaces. Water is master-metered; gas and electricity are separately metered. The current configuration and layout provide flexibility for both investors and potential owner-users, with income in place and multiple paths to reposition or occupy over time.

Investment highlights

Rent Spread Between In-Place and Turnover Levels

Current rents sit below market for comparable two-bedroom units, creating measurable upside as units are recaptured and reset.

Four Units Operating as Two-Bedroom Layouts

All units function as 2BR layouts, supporting stronger leasing compared to typical 1BR configurations in the area.

Front Unit with Den (3rd Bedroom Use)

Additional den in the front unit is currently used as a third bedroom.

Systems Already AddressedCopper plumbing and updated electrical reduce near-term capital needs and allow focus on unit interiors.

13,500 SF Lot with Only Four Units

Low-density site with excess land relative to unit count.

10 On-Site Parking Spaces

Functional parking layout with access from street to rear of lot.

Separately Metered Gas & Electric

Tenants pay their own utilities, keeping operating costs controlled.

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Listing Contacts

AC
CA CA 01927702
Keller Williams
Listed by Keller Williams

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$33,802.00
$2,816.83/mo

Valuation Metrics

0
DSCR
3.3%
Cap Rate
3.3%
ROI

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Additional Information

Name
Alexandro Colombo
License
CA 01927702
Brokerage Phone
310-978-7950
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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