2337 S. Vineyard Ave is a 6-unit apartment building in the West Adams neighborhood of Los Angeles, offered at $1,335,000. Built in 1923, the two-story property totals approximately 3,746 square feet on a 5,477 square foot LA RD2 lot and features a desirable unit mix of four 1 bed / 1 bath units, one 2 bed / 1 bath unit and one studio, complemented by 5 on-site parking spaces.
The property is 100% occupied and offers strong in-place returns, priced at a 7.29% current cap rate and a 9.27 GRM ($222,500 per unit and $356 per square foot). Pro forma rents reflect an 8.87% increase in scheduled income, for an 8.17% pro forma cap rate. Three units are occupied by tenants on subsidized rental programs, providing a portion of the property’s income from government-supported sources, and tenants pay their own gas and electric. The building is subject to the LA RSO.
2337 S. Vineyard Ave is well positioned in West Adams, close to major employment centers, retail corridors and transit, with convenient access to the Santa Monica Freeway. The neighborhood’s established residential base, growing roster of popular cafés and restaurants, and proximity to the University of Southern California support consistent rental demand, making this an appealing opportunity for investors seeking long-term multifamily ownership in Los Angeles. Please contact the listing agents for showing instructions and available financing options.
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