Zag Apartments

Zag Apartments is a newly constructed, Class A multifamily asset located in Los Angeles' vibrant Echo Park submarket. Built in 2022, the property features 70 units spanning 68,269 square feet on a 0.69-acre site, with an average unit size of 845 square feet. The unit mix caters to diverse tenant needs with one- to four-bedroom configurations. The property boasts 100% occupancy, underscoring its desirability in a supply-constrained market.

Current in-place rents average $3,001 per unit, presenting a 30% upside to market rents of $3,401. The property offers stabilized returns with a 7% cap rate and a stabilized NOI of $2,388,076. In-place performance yields a 5% cap rate and $1,872,638 NOI, with a return on cost of 20%. This asset provides an excellent value-add opportunity to capture rent growth through lease turnover and aligning in-place rents with market levels.

Its premier location offers strong tenant demand driven by proximity to major employment hubs, retail, and lifestyle amenities. Investors will appreciate the long-term income potential and capital appreciation in one of Los Angeles' most sought-after submarkets.