For Sale: $1,288,000

Apartments

Year Built: 1959

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Offering Memorandum

2466 Lancaster Avenue, Los Angeles, CA 90033

6-Unit Multifamily Investment | Near USC Health Sciences Campus

PROPERTY OVERVIEW

Offered Price: $1,288,000
Number of Units: 6
Building Size: ≈ 4,009 Sq. Ft.
Lot Size: ≈ 6,741 Sq. Ft. (LARD2 Zoned)
Year Built: 1959
Price per Unit: $214,667
Price per SF: $321.28
Cap Rate (Actual): 5.94 %
GRM (Actual): 12.65
APN: 5202-011-032

INVESTMENT HIGHLIGHTS

Prime Location: Steps from USC Health Sciences Campus, Keck Hospital, and County USC Medical Center. Minutes to Downtown LA, Lincoln Heights & Arts District, with quick access to 10 & 5 Freeways.
Immediate Cash Flow + Built-In Upside: Current NOI ≈ $76,537 (5.94 % cap). Effective February 2026, rents may increase ≈ 3 % per City of LA guidelines, raising NOI to ≈ $79,800 and cap rate to ≈ 6.2 %.
Strong Tenant Base: Long-term, stable occupants with consistent income and low turnover.
Extra Income: Owner-owned laundry machines generate ≈ $220/month.
Low Expense Profile: Individually metered units and simple maintenance yield high operating efficiency.
Redeveloping Submarket: Boyle Heights and East LA are seeing renewed investment driven by proximity to medical, academic, and transport hubs.

PROPERTY DESCRIPTION

A well-maintained six-unit apartment building offering a balanced combination of stable income and future rent growth. The property sits on a 6,741 sq. ft. LARD2 lot with six covered carports and individual utility meters. Most units are improved and house long-term tenants. Located near USC Health Sciences Campus and major employers, it appeals to medical professionals and students, positioning it for continued rental demand and appreciation.

UNIT MIX & RENT ROLL

Unit Beds Baths Current Rent Projected

1 1 1 $1,149 $1,800

2 1 1 $1,235 $1,800

3 1 1 $1,168 $1,800

4 1 1 $1,149 $1,800

5 2 1 $2,184 $2,500

6 1 1 $1,664 $1,800

Total/Average $8,549 / mo $11,500 (est.)

INCOME & EXPENSE SUMMARY (Actual)

Category Amount

Gross Income $105,228

Expenses ($28,691)

Net Operating Income (NOI) $76,537

Cap Rate (@ $1.288 M) 5.94 %

GRM (Actual) 12.65

PROJECTED INCOME EFFECTIVE FEB 2026 (+ 3 % RSO Increase)

Adjusted Annual Change

Income $105,228 → $108,385 + $3,157

Expenses ($28,691) —

NOI (Eff. Feb 2026)≈ $79,700 + $3,100

Cap Rate (@ $1.288 M)≈ 6.2 %

Rent Adjustment Note: Effective February 2026, in-place rents are projected to increase by ≈ 3 % per the City of Los Angeles Rent Stabilization Ordinance. Pro forma figures reflect this adjustment.

PRO FORMA (MARKET RENT + 2026 INCREASE)

Category Market Potential

Gross Income $142,140

Expenses ($30,000 est.)

NOI (Pro Forma) $112,140 (est.)

Cap Rate (@ $1.288 M) ≈ 8.7 %

LOCATION HIGHLIGHTS

North of 10 Fwy | East of Soto St.
Steps to USC Health Sciences Campus, Keck Hospital, LAC + USC Medical Center
Near Downtown LA & Arts District redevelopment
Easy access to 5, 10 & 101 freeways
Walkable to public transit and local retail

PROPERTY DETAILS

Zoning: LARD2
Stories: 2
Parking: 6 assigned carports
Heating/Cooling: Wall units
Appliances: Range/Oven, Disposal
Ownership: Fee Simple
Sale Type: Standard | “As-Is”

OFFERING SUMMARY

Asking Price: $1,288,000
NOI (Actual): $76,537
NOI (Eff. Feb 2026): ≈ $79,700
NOI (Pro Forma): ≈ $112,140
Cap Rates: 5.94 % → 6.2 % → 8.7 % (potential)

AGENT CONTACT

Agnes Ferreyra | DRE #01799633 Realty Source Incorporated | DRE #01523891 213-458-0787 Agnes@DTLA-Residential.com DTLA-Residential.com

DISCLAIMER

Information deemed reliable but not guaranteed. Buyer to verify all details independently. Property sold “As-Is.” Rents subject to annual City of LA allowable adjustments.