Prepared Exclusively for Roman Group LLC
September 2026
| Address | Units | Sale Price | $/Unit | Distance | Closed |
|---|---|---|---|---|---|
| 5905 Whitnall Hwy | 8 | $1,475,000 | $184,375 | 0.29 mi | 2026 |
| 5905 Whitnall Hwy | 7 | $1,325,000 | $189,286 | 0.29 mi | 2021 |
| 10617-10625 Oxnard St | 12 | $4,130,000 | $344,167 | 0.40 mi | 2022 |
Published team performance, laaa.com/track-record, as of September 1, 2026.
6028 Craner is the gold marker. Navy markers are the 35 apartment buildings the LAAA Team has closed in North Hollywood; lighter markers are 7 other LAAA closings in the same area. Repeat sales at one building share a marker. Source: laaa.com/track-record, as of September 1, 2026.
A 2024 building with eight leases on six units and eight more on rooms is not a portal listing. The buyer is somebody who already owns newer small buildings in the Valley, knows what a room-leased four bedroom earns, and can close without a lender picking apart a first-year statement. That buyer is on a list, not on Zillow, and the list is what 493 closings and $1.55B in volume across 21 states and Washington, D.C. have built.
Our public, continuously maintained reach combines active email subscribers, owner and investor contacts, a building-owner database, and targeted direct buyer calls for each listing.
The campaign opens with calls. We start with the owners of every newer-construction small building the team has sold or tracked in the East Valley, the buyers who bid on the 2025 Cartwright, Cumpston and Case Avenue sales and did not win them, and the 1031 exchange buyers on a deadline. A new building with no rent control and a clean statement rewards a buyer who moves quickly, so the first two weeks are spent finding those people rather than waiting for them.
Every LAAA listing is advertised across the same ten platforms: TheMLS, CoStar and LoopNet, Crexi, Brevitas, Zillow, Redfin, ApartmentBuildings.com, DuxRE, MarcusMillichap.com and laaa.com. Syndication is source-stamped so we can tell you which platform produced each inquiry rather than reporting undifferentiated view counts.
The property goes out to 23500 active email subscribers across an owner and investor database of 23500 contacts, then to targeted re-sends built from who opened and who did not. Campaign statistics are reported to you in full, including the misses.
Marcus & Millichap's national agent network puts the listing in front of brokers whose own clients are looking for Los Angeles County multifamily, which reaches capital that never searches a listing portal at all.
Our team built the 16-database research system that develops a property-specific buyer list from ownership, acquisition, financing, and portfolio signals.
We call the owners and investors most likely to act instead of relying on digital distribution alone.
Calls, tours, buyer feedback, and offer activity are organized into a clear weekly campaign update.
We are proactive marketers rather than reactive ones. The offering is built, priced and staged before it is released, the outreach runs on a schedule you can see, and you get a written report on what happened rather than a summary of what we hoped would happen.
| Address | City | Units | Asking Price | $/Unit | Cap | Status |
|---|---|---|---|---|---|---|
| 13724 Victory Blvd | Van Nuys | 68 | $22,900,000 | $336,765 | 5.50% | Available |
| 10455 Magnolia Blvd | North Hollywood | 26 | $9,200,000 | $353,846 | 5.03% | Available |
| 180 Holly Avenue | Carpinteria | 19 | $8,950,000 | $471,053 | 4.80% | Available |
| 2727 3rd Street | Santa Monica | 22 | $7,650,000 | $347,727 | 5.16% | Available |
| 31701 Ridge Route Rd | Castaic | 33 | $7,500,000 | $227,273 | 5.64% | Available |
| 3607 Pacific Ave | Marina del Rey | 6 | $5,395,000 | $899,167 | 4.75% | Available |
| 2001-2005 Grismer Avenue | Burbank | 14 | $5,350,000 | $382,143 | 4.56% | Available |
| 755 E Pine Street | Altadena | 19 | $5,195,000 | $273,421 | 6.68% | Available |
| 7018 Alabama Ave | Canoga Park | 9 | $5,100,000 | $566,667 | 5.27% | Available |
| 4603 La Mirada Avenue & 1255 Lyman Place | Los Angeles | 9 | $4,450,000 | $494,444 | 5.28% | Available |
| 24846 Walnut St | Santa Clarita | 16 | $4,200,000 | $262,500 | 5.13% | Available |
| 12314 & 12320 Washington Pl | Culver City | 8 | $3,096,000 | $387,000 | 5.00% | Available |
| 11025 Blix St | Toluca Lake | 4 | $2,700,000 | $675,000 | 5.27% | Available |
| 1303-1305 Laveta Terrace | Los Angeles | 10 | $2,590,000 | $259,000 | 4.24% | Available |
| 1807 Montana Street | Los Angeles | 4 | $2,395,000 | $598,750 | 5.84% | Available |
| 12231 Pacific Ave | Los Angeles | 7 | $1,900,000 | $271,429 | 5.02% | Available |
| 5614 W Adams Blvd | Los Angeles | 7 | $1,795,000 | $256,429 | 6.52% | Available |
| 24513-24519 Walnut St | Santa Clarita | 3 | $1,095,000 | $365,000 | 4.31% | Available |
| 20234 Roscoe Blvd | Winnetka | 25 | $4,750,000 | $190,000 | 5.51% | In Escrow |
| 3361 Hamilton Way | Los Angeles | 4 | $2,800,000 | $700,000 | 5.62% | In Escrow |
| 24802 & 24806 Walnut St | Santa Clarita | 7 | $1,725,000 | $246,429 | 5.31% | In Escrow |
| Total (21 listings) | 320 | $110,736,000 | $346,050 | 5.27% | ||
The LAAA Team is currently marketing 18 multifamily listings with 3 more in escrow, together representing 320 units and $110.7M of asking value. Every assignment runs on the same marketing platform proposed for 6028 Craner.
Listings and statuses as published at www.laaa.com/listings; pricing and status are subject to change. The summary row shows total units and total asking value, the blended price per unit across all listings, and the median published cap rate.
Seven closed sales of new-construction multifamily in North Hollywood and Valley Village recorded since January 2025 frame the subject. They closed at $2,350,000 to $5,150,000, $403 to $519 per SF, and where the listing published income at cap rates of 5.09% to 5.82% and gross rent multipliers of 12.21 to 15.16. The most recent, 5743 Case Ave, went pending in two days at its ask and recorded on June 3, 2026 at $2,350,000, three tenths of a mile from the subject.
The active listings are the other half of the picture. Five new five- and six-unit buildings ask $2,700,000 to $3,695,000 at 5.27% to 6.30% on published income, and the nearest, 11312 Martha St, has already come down $300,000. That is where a buyer for this property is shopping today. The subject at $4.3M is the largest offering in the group and the only one with eight units, so the evidence supports its per-square-foot and yield position while the absolute price sits above anything that has closed since Laurel Canyon.
The right buyer is the one who values what is scarce here: a building with 13 years of rent-cap exemption ahead of it, no capital needs and a rent roll that resets to market on every turnover. That buyer should be qualified early on two questions, whether they will operate room leases or convert the two four bedrooms to whole units, and whether their lender will underwrite a first-year statement, because both decide whether an offer survives to closing.
Owners who already hold 2017 to 2025 four- and five-unit buildings in North Hollywood and Valley Village, including the buyers on the Cartwright, Cumpston and Case Avenue sales. They know the product, the rents and the tenant, and they buy on yield and per square foot rather than per unit.
Sellers of older rent-controlled buildings in the City of Los Angeles trading into exchange replacement property. A 2024 certificate of occupancy with no RSO and no AB 1482 coverage until 2039 is exactly the asset that pool is looking for, and a 45-day identification clock makes them decisive.
Operators who run room-by-room leasing in large-unit new construction and will pay for the $11,525 per month the two four bedrooms gross today rather than discounting it to a whole-unit rent. They are a smaller pool, but they are the ones who will pay the top of the range.
Most Los Angeles multifamily asks a buyer to inherit rent control. This one does not. Certificates of occupancy issued in November 2024 and April 2025 put the property outside the City's Rent Stabilization Ordinance permanently and outside the AB 1482 state cap until late 2039. Every lease resets to market on turnover for the next 13 years, and the campaign should say so in its first line.
The 2025 new-construction sales in North Hollywood are four-unit buildings of large whole units at $587,500 to $837,500 per unit. Quoting per-unit figures against an eight-unit building with four ADUs invites a discount. Leading with $448 per SF inside a $403 to $519 range, and a 5.34% going-in yield inside a 5.09% to 5.82% closed range, frames the same price as market rather than aggressive.
Two of the eight units are leased by the room and gross $11,525 per month. Some buyers will pay for that; others will underwrite the two units as whole four bedrooms at $4,900 to $5,250 each and price the difference out. The offering should show both, because a buyer who finds the room income on their own treats it as a problem, and a buyer who is shown it treats it as a choice.
6028 Craner Avenue is an eight-unit new-construction community in North Hollywood, completed in stages between November 2024 and April 2025 on the site of a demolished 1948 house. The front building (6030) and rear building (6028) are three-story duplexes with roof decks and attached garages, each with a lower-level unit converted from the rec room under state ADU law. Two detached lofts (6026 and 6026 1/2) complete the eight. The county carries the three structures at 9,607 SF on a 7,375 SF lot.
The unit mix is two 1 bed / 1 bath lofts, one studio, one 1 bed / 1 bath, two 3 bed / 3 bath townhomes and two 4 bed / 4 bath townhomes. The four bedrooms are leased by the room, eight rooms at $1,375 to $1,500, which is why the rent roll carries 14 lines for eight units. Scheduled income is $27,700 per month with the two vacant rooms at their $1,400 asking rent; the six whole units are fully leased at $1,900 to $3,850.
At the recommended $4.3M the property prices at $537,500 per unit and $448 per SF, a 5.34% return on current scheduled income and 5.62% at ownership's pro forma rents. Every closed new-construction comparable is a four-unit building of large whole units, so the per-unit figure sits below all of them by design, while the per-square-foot figure sits in the middle of a $403 to $519 range and the yield sits inside a 5.09% to 5.82% closed range.
The right buyer is the one who values what is scarce here: a building with 13 years of rent-cap exemption ahead of it, no capital needs and a rent roll that resets to market on every turnover. That buyer should be qualified early on two questions, whether they will operate room leases or convert the two four bedrooms to whole units, and whether their lender will underwrite a first-year statement, because both decide whether an offer survives to closing.
The property sits on Craner Avenue between Oxnard Street and Burbank Boulevard, one block east of Vineland Avenue, in the North Hollywood - Valley Village community plan area. The block is a mix of older single-family houses and small apartment buildings that is turning over parcel by parcel to three-story new construction, with the light-industrial and studio-services corridor along Vineland immediately west. The NoHo Arts District, the Metro B Line station at Lankershim and Chandler, and the 170 and 134 freeways are each within a short drive.
The 91606 ZIP code reports 43,559 residents with a median age of 37.7, and 68% of its 15,854 occupied households rent. Median gross rent is $1,772 and vacancy runs at 5.1%. The parcel scores 84 on Walk Score, 51 on Transit Score and 59 on Bike Score, and sits in FEMA Zone X, an area of minimal flood hazard.
North Hollywood is where the East Valley's small new-construction market is being made. Five four-unit buildings of 2017 to 2025 vintage traded within a mile and a half of the subject between April 2025 and June 2026, and five more new five- and six-unit buildings are on the market now. A buyer here is choosing among new buildings, not between a new building and old stock, which is why the evidence for this pricing is unusually direct.
| Property & Location Details | |
|---|---|
| Address | 6028 Craner Avenue, North Hollywood, CA 91606 |
| City | North Hollywood, CA 91606 |
| APN | 2414-004-025 |
| Year Built | 2024 |
| Building SF | 9,607 |
| Lot Size | 7,375 SF (0.169 ac) |
| Units | 8 |
| Parking | Attached garages under each duplex (a three-car garage at the front building and two one-car garages at the rear) plus driveway parking; ownership's schedule carries eight rented spaces. Verify the count and assignment during inspection. |
| Property Overview | |
|---|---|
| Units | 8 |
| Year Built | 2024 |
| Building SF | 9,607 |
| Lot SF | 7,375 |
| APN | 2414-004-025 |
| Unit Mix | |
|---|---|
| 2x 1 Bed / 1 Bath Loft | 750 (est.) SF |
| 1x Studio | 544 (est.) SF |
| 1x 1 Bed / 1 Bath | 544 (est.) SF |
| 2x 3 Bed / 3 Bath | 1,800 (est.) SF |
| 2x 4 Bed / 4 Bath (leased by the room) | 1,690 (est.) SF |
The site holds three buildings. The front duplex at 6030 is 4,119 SF per the county (4,211 SF permitted) over a three-car garage, and the rear duplex at 6028 is 3,930 SF (4,128 SF permitted) over two one-car garages; both are three stories of wood frame with roof decks, and each has a 544 SF lower-level ADU converted from the permitted rec room. The detached ADU building at 6026 and 6026 1/2 is 1,558 SF, two lofts of about 750 SF. Every building carries an NFPA 13D fire sprinkler system, a roof-mounted solar photovoltaic array of 2.0 to 3.2 kW per address, and its own electrical meter on a 600-amp service.
Interiors show wide-plank flooring, flat-panel two-tone cabinetry with quartz counters and full-height marble-look backsplash, stainless appliances, wall-mounted ductless heating and cooling, tiled tub surrounds with black fixtures, in-unit stacked washer and dryer, and balconies. Unit sizes are approximate: about 750 SF for the lofts, 544 SF for the studio and one bedroom, 1,800 SF for the three-bedroom townhomes and 1,690 SF for the four-bedroom townhomes. The county publishes building areas only, so these are ownership's figures and are labelled as approximate throughout. Price per square foot on this analysis uses the 9,607 SF county total.
A building this new carries no deferred maintenance and no capital plan for a decade. What it does carry is a first-year operating statement, which a buyer will read carefully: repairs booked at $909 per unit, insurance at $10,660 and parking income still ramping. This analysis underwrites the building to a stabilized second year rather than to that first statement, and a buyer should still verify condition, systems and the room leases through inspection.
Click any image to enlarge. Images depict the property and representative interiors. Source: listing media and site photography.
| Address | Unit Type | SF | Asking Rent | Distance |
|---|---|---|---|---|
| 1Chandler Apartments, 11327 Chandler Blvd, North Hollywood | Studio | - | $2,299 | 0.92 mi |
| 2Alexan NoHo West, 11950 Erwin St, North Hollywood | Studio | - | $2,300 | 1.45 mi |
| 3Morrison Park, 10932 Morrison St, North Hollywood | Studio | - | $1,850 | 1.36 mi |
| Average (3 comps) | - | $2,150 | 1.24 mi | |
| Address | Unit Type | SF | Asking Rent | Distance |
|---|---|---|---|---|
| 1Chandler Apartments, 11327 Chandler Blvd, North Hollywood | 1 Bed / 1 Bath | - | $2,599 | 0.92 mi |
| 4The Weddington, 11058 Chandler Blvd, North Hollywood | 1 Bed / 1 Bath | - | $2,320 | 0.89 mi |
| 5Woodland Trio, 11265 Morrison St, North Hollywood | 1 Bed / 1 Bath | - | $2,134 | 1.40 mi |
| 6Fair Ave Apartments, 5624 Fair Ave, North Hollywood | 1 Bed / 1 Bath | - | $1,995 | 0.58 mi |
| 710620 NoHo, 10620 Victory Blvd, North Hollywood | 1 Bed / 1 Bath | - | $1,850 | 0.54 mi |
| Average (5 comps) | - | $2,180 | 0.87 mi | |
| Address | Unit Type | SF | Asking Rent | Distance |
|---|---|---|---|---|
| 85743 Case Ave, North Hollywood | 3 Bed / 2 Bath | 1,130 (est.) | $3,500 | 0.42 mi |
| 911026 Hortense St, North Hollywood | 3 Bed / 3 Bath | - | $4,858 | 1.79 mi |
| 10Madison Toluca, 10407 Magnolia Blvd, North Hollywood | 3 Bed / 2 Bath | - | $3,700 | 1.24 mi |
| 11The Guild, 11201 Otsego St, North Hollywood | 3 Bed / 2 Bath | - | $3,791 | 1.22 mi |
| Average (4 comps) | 1,130 (incl. est.) | $3,962 | 1.17 mi | |
| Address | Unit Type | SF | Asking Rent | Distance |
|---|---|---|---|---|
| 1211025 Blix St, North Hollywood | 4 Bed / 3 Bath | 1,700 (est.) | $4,895 | 1.62 mi |
| 1310828 Hesby St, North Hollywood | 4 Bed / 4 Bath | - | $5,250 | 1.31 mi |
| Average (2 comps) | 1,700 (incl. est.) | $5,072 | 1.46 mi | |
Rent evidence is read plan by plan. New-construction studios in the NoHo core ask $2,299 and $2,300, which supports the lofts at $2,325 in place and $2,400 pro forma. One bedrooms run $1,850 to $2,599 and average $2,180 against the subject's $1,925 and $2,100. Three bedrooms run from an achieved $3,500 on roughly 1,130 SF units at 5743 Case Ave to $4,858 on brand-new detached homes on Hortense Street, with community product at $3,700 and $3,791 between them; the subject's 1,800 SF three-bath townhomes sit at $3,850 in place and $4,200 pro forma.
The four bedrooms are the plan a buyer will question. Leased by the room they gross $5,625 and $5,900 per month; achieved whole-unit rents on new four-bedroom product are $4,895 at 11025 Blix and $5,250 at 10828 Hesby. The room strategy therefore earns roughly $500 to $1,000 per unit per month over whole-unit leasing, at the cost of eight leases to manage instead of two. This analysis carries the room income as it stands, with a 5% vacancy reserve rather than the 3% used on whole-unit buildings, and discloses the whole-unit alternative rather than hiding it.
| Address | Yr | Units | Bldg SF | Sale Price | $/Unit | $/SF | GRM | Cap | Date |
|---|---|---|---|---|---|---|---|---|---|
| 15648 Cartwright Ave, North Hollywood | 2025 | 4 | 5,538 | $2,775,000 | $693,750 | $501 | 13.53 | 5.82% | 2025-12-15 |
| 25654 Cartwright Ave, North Hollywood | 2025 | 4 | 5,538 | $2,775,000 | $693,750 | $501 | 13.53 | 5.82% | 2025-12-16 |
| 311447 Cumpston St, North Hollywood | 2025 | 4 | 6,600 | $3,350,000 | $837,500 | $508 | - | - | 2025-12-04 |
| 410706 Camarillo St, North Hollywood | 2017 | 4 | 5,906 | $2,800,000 | $700,000 | $474 | 14.73 | 5.37% | 2025-07-10 |
| 55626 Willowcrest Ave, North Hollywood | 2017 | 4 | 5,815 | $2,525,000 | $631,250 | $434 | 15.16 | 5.09% | 2025-04-22 |
| 65743 Case Ave, North Hollywood | 2018 | 4 | 4,525 | $2,350,000 | $587,500 | $519 | 13.99 | 5.34% | 2026-06-03 |
| 74637 Laurel Canyon Blvd, Valley Village | 2021 | 5 | 12,789 | $5,150,000 | $1,030,000 | $403 | 12.21 | 5.74% | 2025-08-29 |
| Median (7 comps) | 5,815 | $2,775,000 | $693,750 | $501 | 13.76 | 5.55% | - | ||
Seven closed sales of new-construction multifamily in North Hollywood and Valley Village recorded since January 2025 frame the subject. They closed at $2,350,000 to $5,150,000, $403 to $519 per SF, and where the listing published income at cap rates of 5.09% to 5.82% and gross rent multipliers of 12.21 to 15.16. The most recent, 5743 Case Ave, went pending in two days at its ask and recorded on June 3, 2026 at $2,350,000, three tenths of a mile from the subject.
The active listings are the other half of the picture. Five new five- and six-unit buildings ask $2,700,000 to $3,695,000 at 5.27% to 6.30% on published income, and the nearest, 11312 Martha St, has already come down $300,000. That is where a buyer for this property is shopping today. The subject at $4.3M is the largest offering in the group and the only one with eight units, so the evidence supports its per-square-foot and yield position while the absolute price sits above anything that has closed since Laurel Canyon.
1. 5648 Cartwright Ave, North Hollywood - 2025 three-story new construction eight tenths of a mile from the subject with a mixed large-unit plan, the closest physical match in the set. Four units in 5,538 SF, three stories, built 2025: one 4 bed / 3 bath, one 4 bed / 4 bath, one 3 bed / 3 bath and one 1 bed / 1 bath. Off-market sale, vacant at close; the published 5.82% cap and 13.53 GRM rest on projected rents of $205,056 per year. Twin of 5654 Cartwright, same buyer, same day.
2. 5654 Cartwright Ave, North Hollywood - Twin sale of 5648 Cartwright; listed for completeness and weighted down so the pair does not count twice. Identical twin of 5648 Cartwright: four units in 5,538 SF, built 2025. Same buyer and same terms as 5648 Cartwright one day later; treated as one data point for weighting.
3. 11447 Cumpston St, North Hollywood - Closest in time and vintage; supports the top of the per-square-foot range but carries no income. Four three-story townhomes in 6,600 SF, built 2025, eight parking spaces; the largest units in the set. Sold vacant with no published income; the largest 2025 new-construction print in North Hollywood at $837,500 per unit and $508 per SF.
4. 10706 Camarillo St, North Hollywood - Stabilized townhome comparable with published income; the best evidence of a cap rate on leased newer product in the Toluca Lake pocket. Four 3 bed / 2.5 bath three-story townhomes in 5,906 SF, built 2017, eight tandem gated spaces. Listed at $2,888,000 and closed at 97% of ask on $190,128 of gross income; a stabilized whole-unit rent roll.
5. 5626 Willowcrest Ave, North Hollywood - Same two-duplex configuration as the subject on a similar lot, but 2017 vintage and whole-unit leasing. Two duplexes, four 3 bed units in 5,815 SF, built 2017, eight garage spaces. Closed at 97% of ask on $166,542 of gross income; the sharpest cap and highest multiplier in the closed set.
6. 5743 Case Ave, North Hollywood - The most recent recorded sale in the set, three tenths of a mile from the subject, with a verified deed price and published income. Four 3 bed units in 4,525 SF, built 2018, three parking spaces per unit including two-car garages. Went pending in two days at the $2,400,000 ask and recorded at $2,350,000 on $168,000 of gross income, all four units at $3,500 per month.
7. 4637 Laurel Canyon Blvd, Valley Village - Larger and pricier than the subject but the only closed new-construction sale in the subject's price bracket; anchors the multiplier and the per-square-foot floor. Five large units in 12,789 SF, built 2021, on Laurel Canyon Boulevard 2.4 miles south. Sold at the full $5,150,000 ask on $295,704 of published net operating income; the only closed sale in the set above $4,000,000.
| Basis | Price | $/Unit | $/SF | GRM Current | GRM Pro Forma | Cap Current | Cap Pro Forma |
|---|---|---|---|---|---|---|---|
| Suggested list price | $4,300,000 | $537,500 | $447.59 | 12.94 | 12.44 | 5.34% | 5.62% |
| Range top | $4,450,000 | $556,250 | $463.20 | 13.39 | 12.88 | 5.12% | 5.39% |
| Midpoint | $4,300,000 | $537,500 | $447.59 | 12.94 | 12.44 | 5.34% | 5.62% |
| Range bottom | $4,150,000 | $518,750 | $431.98 | 12.48 | 12.01 | 5.58% | 5.87% |
Property taxes reassess at the sale price, so the net operating income and therefore the capitalization rate are recalculated at every rung above.
| Address | Yr | Units | Bldg SF | List Price | $/Unit | $/SF | GRM | Cap | Date |
|---|---|---|---|---|---|---|---|---|---|
| 15622 Willowcrest Ave, North Hollywood | 2025 | 4 | 5,095 | $2,250,000 | $562,500 | $442 | 12.80 | 5.80% | 2026-05-27 |
| 211312 Martha St, North Hollywood | 2025 | 5 | 7,867 | $3,695,000 | $739,000 | $470 | 12.01 | 6.30% | 2026-09-01 |
| 311730 Gilmore St, North Hollywood | 2024 | 5 | 7,945 | $3,295,000 | $659,000 | $415 | 13.80 | 5.72% | 2026-09-01 |
| 410828 Hesby St, North Hollywood | 2025 | 5 | 7,387 | $3,695,000 | $739,000 | $500 | 13.20 | 6.26% | 2025-12-04 |
| 56400 Farmdale Ave, North Hollywood | 2024 | 6 | 6,462 | $3,199,000 | $533,167 | $495 | 16.41 | - | 2026-04-13 |
| 611025 Blix St, North Hollywood | 2025 | 4 | 4,958 | $2,700,000 | $675,000 | $545 | 14.14 | 5.27% | 2026-09-01 |
| Median (6 comps) | 6,924 | $3,247,000 | $667,000 | $482 | 13.50 | 5.80% | - | ||
| Units | Type | Approx SF | Current Rent | Current Monthly | Market Rent | Market Monthly |
|---|---|---|---|---|---|---|
| 2 | 1 Bed / 1 Bath Loft | 750 (est.) | $2,325 | $4,650 | $2,400 | $4,800 |
| 1 | Studio | 544 (est.) | $1,900 | $1,900 | $1,975 | $1,975 |
| 1 | 1 Bed / 1 Bath | 544 (est.) | $1,925 | $1,925 | $2,100 | $2,100 |
| 2 | 3 Bed / 3 Bath | 1,800 (est.) | $3,850 | $7,700 | $4,200 | $8,400 |
| 2 | 4 Bed / 4 Bath (leased by the room) | 1,690 (est.) | $5,763 | $11,525 | $5,763 | $11,525 |
| Total Scheduled Rent | $3,462 | $27,700 | $3,600 | $28,800 | ||
| Additional Income[1] | - | $575 | - | $575 | ||
| Monthly Scheduled Gross Income | - | $28,275 | - | $29,375 | ||
| Current | Market | |
|---|---|---|
| Scheduled Gross Income[2] | $339,300 | $352,500 |
| Vacancy Reserve at 4.9%[3] | ($16,620) | ($17,280) |
| Gross Operating Income | $322,680 | $335,220 |
| Operating Expenses | ($92,982) | ($93,484) |
| Net Operating Income | $229,698 | $241,736 |
| Current | Pro Forma | |
|---|---|---|
| Real Estate Taxes[4] | $48,349 | $48,349 |
| Insurance[5] | $10,660 | $10,660 |
| Utilities - Electric, Water & Sewer[6] | $7,102 | $7,102 |
| Trash Removal[7] | $3,764 | $3,764 |
| Repairs & Maintenance[8] | $4,800 | $4,800 |
| Landscaping[9] | $2,400 | $2,400 |
| Replacement Reserves[10] | $3,000 | $3,000 |
| Management Fee (4.0% of EGI)[11] | $12,907 | $13,409 |
| Total Operating Expenses | $92,982 | $93,484 |
| Expense Ratio | 28.8% | 27.9% |
| Per Unit | $11,623 | $11,686 |
| Per Square Foot | $9.68 | $9.73 |
[1] Additional Income: Parking income at $575 per month, or $6,900 per year, the steady-state monthly collection on the trailing statement. Ownership's sizing sheet carries eight rented spaces at $12,000 per year, which is treated as upside; incidental pet, late and NSF fees ($1,196 booked) are not carried.
[2] Scheduled Gross Income: Six whole units and eight individually leased rooms at the rents on the 2026-08-27 ownership rent roll, $27,700 per month. The two vacant rooms in unit 6028-2 carry the $1,400 asking rent printed on the roll, which is standard Los Angeles practice. The market column carries ownership's pro forma rents of $2,400 for the lofts, $1,975 for the studio, $2,100 for the one bedroom and $4,200 for the three-bedroom units, with the rooms unchanged.
[3] Vacancy Reserve: 5.0% of scheduled gross rent, matching ownership's own sizing assumption and above the 3.0% LAAA uses on conventional whole-unit buildings, because eight of the fourteen rent lines are rooms.
[4] Real Estate Taxes: Reassessed at the recommended list price of $4,300,000 at the 1.1244% effective rate derived from the subject's own 2025 bill of $30,095 on $2,676,512 of assessed value, tax rate area 0-013, or $48,349 per year. The $8,897 on the trailing statement is a partial-year figure on the construction-period basis.
[5] Insurance: Ownership's booked premium of $10,660, carried as presented. The LAAA underwriting allowance of $200 per unit plus $1.00 per gross SF would be $11,207; a buyer should obtain current quotes.
[6] Utilities - Electric, Water & Sewer: Ownership's operating figure of $7,102, which equals the trailing-twelve electric ($5,684), water ($553) and sewer ($865) as booked. Units are individually metered for electricity on the 600-amp service, so the booked cost is house and common-area usage. The $623 of gas booked is excluded, following ownership's schedule.
[7] Trash Removal: City of Los Angeles sanitation billing as booked, $3,764.
[8] Repairs & Maintenance: $600 per unit per year, or $4,800, for a 2024 building. Ownership booked $7,271 of general maintenance and vacancy cleaning in the first full year, most of it a single October 2025 charge of $4,960.
[9] Landscaping: Gardening at $200 per month as booked.
[10] Replacement Reserves: $375 per unit per year, or $3,000, ownership's own sizing figure. The booked statement carries no reserve line.
[11] Management Fee (4.0% of EGI): Underwritten at 4.0% of effective gross income. Ownership manages in house and books no management cost, so this is an addition to reported cost rather than a restatement of it. Room-by-room leasing is management intensive and a buyer may underwrite a higher rate.
Owner-reported figures are unaudited. A buyer should verify all income and expenses in due diligence.
| Operating Data | |
|---|---|
| Price | $4,300,000 |
| Number of Units | 8 |
| Price per Unit | $537,500 |
| Price per SF | $447.59 |
| Current GRM | 12.94 |
| Market GRM | 12.44 |
| Current Cap Rate (LAAA calculation: current NOI / recommended value) | 5.34% |
| Market Cap Rate (LAAA calculation: market NOI / recommended value) | 5.62% |
| Acquisition Structure | |
|---|---|
| Structure | All Cash |
| Equity Required | $4,300,000 |
The recommended list price is $4.3M, inside an opinion-of-value range of $4.15M to $4.45M. Current scheduled income of $332,400 less a 5% vacancy reserve plus $6,900 of parking income gives $322,680 of effective gross income; operating expenses of $92,982, including taxes reassessed at the list price, produce net operating income of $229,698, a 5.34% cap rate and a 12.94 gross rent multiplier. At ownership's pro forma rents of $345,600 the net operating income is $241,736 and the cap rate 5.62%. The price is $537,500 per unit and $448 per SF.
Against the evidence, the price is disciplined rather than aggressive. It sits inside the closed per-square-foot range, inside the closed cap-rate range, and at a lower multiplier than every closed sale but one, and it sits below every comparable per unit because the subject's units are smaller. The reasons it is not higher are the same reasons it is defensible: the room leases, the first-year statement and the absence of a closed eight-unit new-construction print in the submarket. A buyer who accepts the room income will pay the top of the range; a buyer who converts it to whole units will pay the bottom.
Supported value range: $4,150,000 to $4,450,000
Scheduled income is the ownership rent roll as of August 27, 2026 with two vacant rooms at their $1,400 asking rent; a third room shows notice for August 31, 2026. Taxes are reassessed at the list price at the subject's own 1.1244% effective rate. Insurance ($10,660), utilities ($7,102 for electric, water and sewer), trash ($3,764), gardening ($2,400) and reserves ($3,000) are ownership's operating figures, drawn from its accrual statement for September 2025 through August 2026 and its own sizing schedule. Repairs are carried at $600 per unit per year ($4,800) against $7,271 booked in the first year. A 4.0% management fee is added; ownership books no management cost.
The trailing twelve months are the building's lease-up year: base rent collected was $298,968 with $18,290 of concessions against $332,400 now scheduled. Parking income is carried at $575 per month ($6,900); ownership's sizing sheet carries $12,000 from eight rented spaces, which is treated as upside, and incidental fee income is not carried. Unit square footages are ownership's figures and are approximate. Comparable cap rates and multipliers are as published by the listing brokerages and were not independently audited.