224 W 101st St, Los Angeles, CA 90003

Property Overview

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224 W 101st St is a three-unit multifamily investment in South Los Angeles, offering investors immediate cash flow with strong value-add potential through rent growth, unit repositioning, and future redevelopment opportunities. The property consists of three 2-Bed/1-Bath units with consistent 528-square-foot layouts across an 8,102+ square-foot LAR2-zoned lot. With current rents below market and one unit delivered vacant, investors can unlock value by leasing at market rates, renovating interiors, or exploring ADU/redevelopment opportunities. The property’s manageable size and stable Section 8 occupancy make it ideal for hands-on investors seeking predictable cash flow with upside potential.

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Key Property Details

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• Location: 224 W 101st St, Los Angeles, CA 90003
• Lot Size: 8,102+ square feet
• Total Building Area: 1,584 square feet (528 SF per unit)
• Units: 3 (3 × 2BR/1BA)
• Zoning: LAR2
• Year Built: N/A (assume mid-20th century typical South LA)
• Parking: Street parking available
• Rent Control: N/A
• Utilities: Separately metered

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Investment Highlights

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• Nearly 19% cash-on-cash return (pro forma with financing).
• Section 8 occupancy provides stable, government-backed rent.
• Immediate leasing opportunity with one unit delivered vacant.
• Significant rent upside – current rents $2,347 vs. $2,748 market rate (~56% potential increase).
• Low entry point for LA multifamily at $265K per unit ($501/SF).
• Future ADU/redevelopment potential with LAR2 zoning on an oversized lot.

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Neighborhood and Accessibility

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Situated in a residential pocket of South Los Angeles, the property is surrounded by a mix of small multifamily buildings and single-family homes. Residents enjoy proximity to local markets, dining, and everyday conveniences along South Broadway and Main Street. Major growth drivers include Inglewood’s SoFi Stadium and Intuit Dome, bringing long-term economic activity and renter demand. The property offers excellent access to Downtown Los Angeles (~15–20 minutes), I-110 Harbor Freeway, nearby Metro bus lines, and the Metro A Line (Blue) within 10–15 minutes.

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Market Trends and Financial Potential

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• Current Occupancy: 2 of 3 units leased (Section 8), 1 unit vacant
• Vacancy Assumption: Standard 5% for underwriting
• Property Tax Rate: 1.199691% of purchase price (approximate)
• Insurance Estimate: ~$1.00 per square foot annually
• Repairs & Maintenance: ~$750 per unit annually
• Management Fee: 5% of Effective Gross Income
• Reserves: $200 per unit annually

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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