1101 W 45th St, Los Angeles, CA 90037

Property Overview

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1101 W 45th St is a 20-unit multifamily property located in a high-demand South Los Angeles rental corridor near USC and major employment centers. Built in 1925, the 11,428-square-foot building sits on a 7,449-square-foot lot and features a dense, studio-only unit mix designed to serve strong workforce and affordability-driven renter demand. The property is subject to rent control, yet in-place rents remain below market, with two units currently vacant—providing immediate income upside through lease-up and rent stabilization.

Offered at $2,600,000 ($130,000 per unit / $227 per square foot), the asset currently operates at a 7.42% cap rate and is projected to stabilize at a 9.67% cap rate as rents are brought to market and operations are optimized. Upon stabilization, the property is projected to generate approximately $251,000 in net operating income, supporting strong cash flow, double-digit cash-on-cash returns, and an attractive exit as a stabilized 20-unit asset in a supply-constrained South Los Angeles submarket.

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Key Property Details

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• Location: 1101 W 45th St, Los Angeles, CA 90037‍
• Lot Size: 7,449 square feet‍
• Total Building Area: 11,428 square feet‍
• Units: 20 (20 × Studios; 2 Vacant)‍
• Zoning: LAR1‍
• Year Built: 1925‍
• Rent Control: Yes (RSO)
  

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Investment Highlights

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• Immediate Lease-Up Opportunity: Two vacant units allow a new owner to implement market rents immediately, accelerating income growth from day one.
• ‍Rent-to-Market Upside: In-place studio rents average approximately $1,382 versus market rents of $1,650, creating meaningful NOI growth through lease turnover.
• ‍Strong In-Place & Stabilized Yield: 7.42% in-place cap rate with upside to a 9.67% stabilized cap rate based on conservative underwriting.
• ‍Large-Scale 20-Unit Asset: Higher unit count provides income diversification, operational efficiency, and stronger long-term value compared to smaller assets.
• ‍Efficient Operations: Projected operating expenses decline to approximately 33.5% of EGI upon stabilization, allowing a greater portion of income to flow to NOI.
• ‍Attractive Refinance & Exit Potential: Improved NOI may support a refinance at a higher valuation, while stabilized 20-unit assets remain highly attractive to local investors and 1031 buyers.

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Neighborhood and Accessibility

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Situated in a well-established South Los Angeles neighborhood near USC, 1101 W 45th St benefits from proximity to major employment centers, transit corridors, and freeway access. The area continues to attract renters seeking affordable housing options close to job hubs and educational institutions, supporting stable occupancy and long-term rental demand.

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For more information and to schedule a viewing, please contact:

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Taylor Avakian

Founder, The Group CRE

First Vice President, Lyon Stahl