4603 La Mirada Avenue & 1255 Lyman Place

4603 La Mirada Avenue & 1255 Lyman Place presents an exceptional opportunity to acquire a fully renovated low-rise multifamily asset in the heart of the Los Feliz submarket. Built in 1922 and comprehensively upgraded in 2023, the property offers nine units across 5,082 rentable square feet on a 0.30-acre site, featuring an average unit size of 565 square feet, 100% occupancy and a communal outdoor space that enhances tenant appeal.

Offered at $4,500,000, this stabilized asset delivers an in-place net operating income of $233,049, representing a 5.18% current cap rate and a competitive price per square foot of $885.48. With a pro forma NOI of $257,168, the property trades at a 5.71% stabilized cap rate and a gross rent multiplier of 12.47. In-place rents average $3,316 per month versus market rents of $3,563, providing immediate upside through strategic rent adjustments.

Located in the vibrant Los Feliz neighborhood, this turnkey investment benefits from limited multifamily inventory, strong demographic trends and proximity to premier retail, dining and entertainment nodes. Fully renovated and 100% leased, the asset offers investors stable cash flow, attractive yield and future rent growth potential in one of Los Angeles’s most sought-after submarkets. For more information or to schedule a private tour, please contact the listing team.