- – beds
- – baths
- – sqft
- ~1/2 acre lot
- 1961 build
- – on site
We are pleased to present to you our newest listing located at 4015 W. Adams, Los Angeles, CA 90018, which is in the heart of the coveted West Adams submarket. This classic 26-unit courtyard apartment building, which was built in 1961, features huge units with lots of natural lighting, and a well landscaped courtyard with a fenced pool and secured parking. There are 25 parking spaces, the soft story retrofit is completed ($280,000). The property also has a large laundry room. The seller purchased the building in 2019. Since the purchase, the seller has spent over $566,000 on interior and exterior renovations of the property. The Schedule of the Rehab Work is included in this Offering Memorandum. 10 units (38% of the units) have been fully renovated. Many of those rehabs included full plumbing replacement. Two years ago, the seller replaced the main roof and facia boards, painted the building, replaced the entry door and windows to the lobby, renovated the lobby, replaced the main awning over the front staircase, did an asphalt overlay of the front and rear parking lots, renovated the front fence and replaced the street entrance door, installed two new gate motors, which are enclosed in metal cages, relandscaped the front of the building, and replaced both water heaters. The property is listed at $5,150,000, with pricing indicators of 9.57 GRM, $198,077 per unit, $246.98 per square foot, and a 5.67% Cap Rate. There is an assumable loan of $3,509,315 that is fixed at 5.90%, interest only until February 2028, at which time the loan resets. The Banc of Cal loan is not due until January 1, 2050. The assumable loan provides for good leverage, with a 31.86% down payment at the listed price. The building has an excellent unit mix consisting of (1) studio, (7) 1bd/1ba, (16) 2bd/1ba, (1) 2bd/2ba and (1) 3bd/2ba unit. The building is 20,852 sq. ft., with an average unit size of 802 sq. ft. At the listed price, with the loan assumption, the property should provide an approximate 5% cash on cash return from day one. There is approximately 38% rent upside. Based on the market rents, the cash-on-cash return should provide a very substantial double-digit return on market rents.
Last checked:
As a licensed real estate brokerage, Estately has access to the same database professional Realtors use: the Multiple Listing Service (or MLS). That means we can display all the properties listed by other member brokerages of the local Association of Realtors—unless the seller has requested that the listing not be published or marketed online.
The MLS is widely considered to be the most authoritative, up-to-date, accurate, and complete source of real estate for-sale in the USA.
Estately updates this data as quickly as possible and shares as much information with our users as allowed by local rules. Estately can also email you updates when new homes come on the market that match your search, change price, or go under contract.
Checking…
•
Last updated Jul 1, 2025
•
MLS# SB25145990 —
The Building
-
Year Built:1961
-
Year Built Source:Public Records
-
New Construction:No
-
Building Area Total:20852.00
-
Building Area Units:Square Feet
-
Total Number Of Units:26
-
# of Buildings:1
-
Stories Total:3
-
Entry Level:1
-
Common Walls:No Common Walls
-
# of Separate Gas Meters:26
-
# of Separate Electric Meters:26
Interior
-
Entry Location:Front
-
Laundry:Common Area
-
Laundry:1
Location
-
Directions:W Adams Blvd
-
Latitude:34.03298400
-
Longitude:-118.32892400
The Property
-
Property Type:Residential Income
-
Subtype:Commercial/Residential
-
Zoning:LAR3
-
Lot Features:26-30 Units/Acre
-
Lot Size Area:21182.0000
-
Lot Size Acres:0.4863
-
Lot Size SqFt:21182.00
-
Lot Size Source:Public Records
-
Additional Parcels:No
-
Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
-
Tax Block:7
-
Tax Census Tract:2187.02
-
Tax Tract:218...
-
Tax Lot:3
The Listing
-
Special Listing Conditions:Standard
-
Parcel Number:5059011002
Utilities
-
Sewer:Public Sewer
-
Water Source:Public
The Community
-
Features:Suburban, Urban
-
Pool:Community
-
Senior Community:No
-
Private Pool:No
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
7/1/25
Jul 1, 2025
|
Listed / Active | CRMLS_CA | $5,150,000 |