1069 N Oxford Ave, Los Angeles, CA 90029

Property Overview

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1069 N Oxford Ave is a 10-unit multifamily value-add opportunity offered at $1,950,000 ($195,000/unit | $250.13/SF) near Larchmont Village — one of Los Angeles' most supply-constrained and renter-driven submarkets. Built in 1959 on a 9,017 SF lot, the property features a balanced mix of seven one-bedroom/one-bath and three two-bedroom/two-bath residences, each averaging 780 SF across 7,796 SF of building area.

With nine of ten units currently occupied and generating $14,549 in monthly rent, the asset delivers immediate cash flow from close of escrow at a 6.26% in-place cap rate and a 1.31x debt service coverage ratio. Current rents average $1,617 per occupied unit against market rents of $2,150–$2,717 — a 45% average discount representing approximately $71,000 in annual NOI growth achievable largely through natural tenant turnover, with no capital improvement program required. The property's one vacant unit is ready for immediate lease-up at its $2,150 market rate, and one occupied unit currently sits 66% below market rent — the single largest upside opportunity in the portfolio.

Subject to the Los Angeles Rent Stabilization Ordinance, the incoming owner captures rent increases systematically at each vacancy — building toward stabilization one turnover at a time. At full market rents, NOI grows from $121,978 to $192,980, delivering a 9.90% pro forma cap rate, a 7.00 GRM, and a 14.48% cash-on-cash return on conventional financing. The property's separately metered electric and gas shift utility costs to residents, keeping pro forma expenses at just 27.04% of EGI — well below typical multifamily benchmarks. With 13 on-site parking spaces in a dense urban corridor where parking commands a premium, the asset is well-positioned for long-term occupancy stability and rent growth.

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Key Property Details

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• Address: 1069 N Oxford Ave, Los Angeles, CA 90029
• Units: 10
• Unit Mix: (7) 1-Bed / 1-Bath | (3) 2-Bed / 2-Bath
• Parking: 13 Spaces
• Rent Control: Subject to LA RSO
• Occupancy: 90% (9/10 Units)

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Investment Highlights

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• 45% Average Rental Upside Across the Portfolio — Deep, Broadly Distributed Gap: Current rents across nine occupied units average $1,617 against market rents of $2,150–$2,717 — a 45% average gap, with one unit sitting 66% below market. Unlike many value-add plays where upside is concentrated in one or two units, the rent-to-market gap here is distributed broadly across the occupied portfolio, giving incoming ownership a sustained, multi-year runway for NOI growth through natural turnover.
• NOI Nearly Doubles at Stabilization — No Capital Required: Current NOI of approximately $122,000 grows to approximately $193,000 at market rents — a 58% increase driven entirely by vacancy and rent normalization. No renovation program, no capital improvement plan, no repositioning strategy required. The entire upside is unlocked through one mechanism: vacancy.
• Strong Pro Forma Returns with Meaningful Debt Coverage: At stabilization, the property delivers a 9.90% pro forma cap rate, 7.00 GRM, and 14.48% cash-on-cash return on conventional financing. The proposed loan structure at 6.25% over 30 years produces a 2.07 DSCR at pro forma — well above lender thresholds and providing meaningful downside protection throughout the lease-up period.
• 90% Occupied — Immediate Income, Immediate Upside: Nine of ten units are currently occupied, generating $14,549 in monthly rent from close of escrow. The one vacant unit is turnkey-ready and can be leased immediately at its $2,150 market rate, capturing upside on day one with no renovation or extended lease-up required. The buyer secures near-full occupancy from the start while executing a patient, turnover-driven value-add strategy on the remaining units at their own pace.
• Lean Expense Profile with Separately Metered Utilities: Electric and gas are separately metered, shifting costs directly to residents. Pro forma expenses represent just 27.04% of EGI — well below typical multifamily benchmarks — with reserves and management fees already baked in.

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Neighborhood and Accessibility

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The Larchmont Village submarket sits at the intersection of some of Los Angeles' most desirable residential and lifestyle corridors — bordered by Hancock Park to the west, Los Feliz to the north, and Koreatown to the south. Larchmont Boulevard offers residents walkable access to boutique shops, acclaimed restaurants, Whole Foods, Trader Joe's, and a dense mix of everyday services that attract quality, longer-tenured renters to the submarket.

1069 N Oxford Ave provides exceptional connectivity to Hollywood, Silver Lake, Los Feliz, and Downtown LA via the 101 freeway and surface streets. Renters priced out of adjacent Hancock Park and Los Feliz increasingly look to this corridor as a high-quality, centrally located alternative — a trend that continues to compress vacancy and push rents upward across all unit types. With high barriers to new multifamily entitlements and chronic undersupply in the immediate submarket, existing rental stock remains well-occupied — supporting consistent rent growth, minimal concessions, and strong long-term asset appreciation for well-located assets like 1069 N Oxford Ave.

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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