100% Leased, Los Feliz Fourplex 1572 Myra Ave 4 Unit Apartment Building $2,766,876 CAD ($691,719 CAD/Unit) 6.77% Cap Rate Los Angeles, CA 90027
INVESTMENT HIGHLIGHTS
- Unheard-of 6.77% cap rate! Far above the sub-5.50% market norm for this area.
- Both 3-bed units rented at an outstanding $4,250 each, ADUs leased at $3,200 & $2,900, and garage rented at $500.
- Fully loaded with premium kitchen appliances, in-unit washers & dryers—totally turnkey!
- 100% LEASED! Fully occupied with $15,100/month ($181,200 annually in actual rental income.
- Every finish is top-tier—upscale cabinetry, massive windows, designer-selected tiles, and high-end vanities in every bathroom. A DESIGNER property.
- Rooftop decks with stunning views of the Hollywood Sign & Griffith Observatory!
EXECUTIVE SUMMARY
The 2-4 Unit Specialists are pleased to present 1572 Myra Ave, an exceptional investment opportunity in Los Feliz. With market cap rates hovering around 5.50% or lower, this fully renovated, 100% leased fourplex offers an unprecedented 6.77% REAL cap rate, making it one of the strongest cash-flowing deals in the area. Generating $15,100 per month ($181,200 annually) in actual rental income, this is a true turnkey investment with minimal owner expenses thanks to separately metered electricity, gas and water submeters.
This fully updated Spanish-style fourplex blends 1920s charm with modern upgrades, featuring two 3-bedroom, 1-bath units (each rented at $4,250) and two sleek 1-bedroom, 1-bath + loft + roofdeck ADUs (leased for $3,200 and $2,900, respectively). Additionally, the garage is leased for $500 per month, adding even more income. The high-end finishes, large private outdoor spaces, and premium design elements have attracted strong, stable tenants, ensuring immediate and long-term returns.
Located on a peaceful residential street just moments from Sunset Junction, the property offers prime access to Los Feliz’s most popular hotspots, including All Time, Maru Coffee, Little Dom’s, and The Dresden. Whether grabbing a bite at Bacari Silverlake, sipping cocktails at The Alcove & Big Bar, or enjoying the nightlife at The Virgil, tenants are immersed in one of LA’s most sought-after neighborhoods. The ADUs, built with sustainable shipping containers, appeal to the modern artistic renter that dominates this market. Other standout features include rooftop decks for each ADU, modern spiral staircases, expansive wood decks, turf yards, in-unit washer/dryers, and abundant natural light.
Investment opportunities at this level rarely hit the market in Los Feliz. With a market-defying 6.77% cap rate, rock-solid rental income, and a highly desirable location, 1572 Myra Ave is a standout deal in today’s market.
This fully updated Spanish-style fourplex blends 1920s charm with modern upgrades, featuring two 3-bedroom, 1-bath units (each rented at $4,250) and two sleek 1-bedroom, 1-bath + loft + roofdeck ADUs (leased for $3,200 and $2,900, respectively). Additionally, the garage is leased for $500 per month, adding even more income. The high-end finishes, large private outdoor spaces, and premium design elements have attracted strong, stable tenants, ensuring immediate and long-term returns.
Located on a peaceful residential street just moments from Sunset Junction, the property offers prime access to Los Feliz’s most popular hotspots, including All Time, Maru Coffee, Little Dom’s, and The Dresden. Whether grabbing a bite at Bacari Silverlake, sipping cocktails at The Alcove & Big Bar, or enjoying the nightlife at The Virgil, tenants are immersed in one of LA’s most sought-after neighborhoods. The ADUs, built with sustainable shipping containers, appeal to the modern artistic renter that dominates this market. Other standout features include rooftop decks for each ADU, modern spiral staircases, expansive wood decks, turf yards, in-unit washer/dryers, and abundant natural light.
Investment opportunities at this level rarely hit the market in Los Feliz. With a market-defying 6.77% cap rate, rock-solid rental income, and a highly desirable location, 1572 Myra Ave is a standout deal in today’s market.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$242,500
|
$107.92
|
| Other Income |
$8,305
|
$3.70
|
| Vacancy Loss |
$12,125
|
$5.40
|
| Effective Gross Income |
$238,679
|
$106.22
|
| Taxes |
$33,186
|
$14.77
|
| Operating Expenses |
$18,344
|
$8.16
|
| Total Expenses |
$51,530
|
$22.93
|
| Net Operating Income |
$187,150
|
$83.29
|
PROPERTY FACTS
| Price | $2,766,876 CAD |
| Price Per Unit | $691,719 CAD |
| Sale Type | Investment |
| Cap Rate | 6.77% |
| Gross Rent Multiplier | 11.41 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Lot Size | 0.14 AC |
| Building Size | 2,247 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1925/2023 |
| Parking Ratio | 0.45/1,000 SF |
| Zoning | LARD1 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Views
- Yard
- Deck
- Lawn
- Patio
- Porch
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1 | 2 | $5,883 CAD | 876 - 882 |
| 1+1 | 2 | $4,222 CAD | 332 |
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Walk Score®
Very Walkable (78)
