Multifamily Property for Sale in Los Angeles, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Los Angeles, CA 90017

Description

Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale 722 Hartford Avenue, a 27-unit apartment community located in the City West submarket of Downtown Los Angeles, just two blocks west of the Financial District. The property is a four-story red brick building originally constructed in 1917, comprised of 23 studios, three one-bedroom/one-bath units, and one one-bedroom/two-bath unit. Situated on a 6,218-square-foot lot, the 16,056-square-foot building is being offered at an attractive basis of $137,037 per unit, with a strong in-place yield supported by stabilized operations. The current ownership has thoughtfully maintained the asset, renovating units to expose the original brick walls, installing efficient kitchen systems designed for compact living, upgrading common-area hallway flooring, and improving the back patio and landscaping to create inviting community space for residents. 722 Hartford Avenue is positioned in one of the most walkable and transit-rich pockets of Los Angeles, with a Walk Score of 91 and the 7th Street/Metro Center Station less than a half-mile away, providing access to the Metro B, D, A, and E lines. The property is within walking distance of the LA Convention Center, Crypto.com Arena, LA Live, and Grand Hope Park, and offers excellent positioning relative to the 2028 Summer Olympic venues, including the LA Memorial Coliseum and BMO Stadium. The offering presents investors with a stabilized, well-maintained asset in a walkable infill location, with the optionality to capture continued upside through ongoing unit turnover and the long-term tailwinds of Downtown’s westward expansion. Investment Highlights: • Renovated under current ownership with exposed-brick interiors, upgraded kitchens, new common-area flooring, and an improved back patio • Four-story historic brick building offering character, curb appeal, and an architectural identity that is increasingly rare in the DTLA rental market • Walk Score of 91 ("Wa

Market Context

This multifamily in Los Angeles, CA is listed for sale. It is offered at an approximate 6.8% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 54 days. Compare it against other multifamily listings for sale in Los Angeles, CA — <a href="/search/sale/multifamily/california/los-angeles">view the full market</a>.

As of Q1 2026, the Greater Los Angeles multifamily market showed average asking rents near $2333.00/unit/mo, and cap rates around 5.0%. Source: Consensus Q1 2026 market report.

Its 6.8% asking cap rate is above the Greater Los Angeles multifamily market average of about 5.0%, implying a higher yield (and typically more risk or upside) than comparable assets.

Multifamily market FAQ

What is the typical cap rate for multifamily in Greater Los Angeles?
About 5.0% as of Q1 2026, per Consensus.

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