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The Alexandira
1860 N. Alexandria, Los Angeles, CA 90027
Project Description
A 16-unit multifamily property located on the desirable Franklin Avenue Corridor in Los Angeles, CA, offering a value-add investment opportunity with strong current income potential and significant room for rental growth.
Attractive drivers to invest in the project:
-
Located in a market with
consistent rental increases and low vacancy rates;
-
Prime Los Feliz location
with proximity to Hollywood;
-
Significant value-add
potential with a 30% loss-to-lease;
-
Soft-story retrofit (2019)
and new plumbing (2010) ensure compliance and reduced risk;
-
Includes 12 parking spaces
, a mix of garages and on-grade spots;
-
Opportunity to implement
RUBS, modernize units, and enhance NOI;
-
Close to major employers
like Netflix, Paramount Pictures, and Kaiser Permanente.
Financial terms of the investment:
Target Hold Period
72 Months
Security
Levered Equity
Target LP IRR
15.8%
The capital stack distribution:
General Partner
5%
Limited Partners
95%
Acquisition Fee
$75,000
The General Partner
Stable Park Capital - is the general partner promoting this project. The CEO of the company - Ziva Sarbu is a former investment banker, who has worked in premier investment firms such as ”Arixa Capital” and “Bainbridge”.
Investment Details
Total Purchase Price
$3,500,000
Cash Investment Required
$1,567,000
Loan to Cost
65%
NOI (In-Place)
$120,750
Cap Rate
5.25%
Year Built
1951
Units
16
Occupancy
95%
Property Type
Multifamily
This stabilized property is priced competitively at $225,000 per unit and offers a market cap rate of 7.6% post-renovation and lease optimization, highlighting significant rental upside.
Unit Mix & In-Place Monthly Rents
Studio [4 Units]
$1,271
1 + 1 [12 Units]
$1,604
Total [16 Units]
$1,521
Current rents average $1,521/unit, significantly below the market average of $2,025/unit, offering considerable potential for income growth with modest upgrades and management changes.
Total Uses
Purchase Price
$3,500,000
Renovation Capital
$280,000
Escrow & Closing
$180,000
Acquisition Fee
$75,000
Contingency
$70,000
Total Uses
$4,105,000
This property offers a balanced investment opportunity with strong current cash flow and significant upside potential. The projected 21.3% project IRR and 17.7% LP IRR highlight the robust return profile. With a well-thought-out CapEx plan and a stabilized yield on cost of 7.19%, the deal is well-positioned for long-term success.
Target Acquisition Date
Q3 2025
Remaining left to fund: $1,567,000
1 Investors | 80,000
1,647,000 Goal
Investment Overview
This offering presents a rare chance to acquire a 16-unit property in the high-demand Los Feliz neighborhood. With stable current income and substantial upside potential through rental adjustments and property enhancements, this asset is poised for strong long-term returns. Situated near world-class employment centers and iconic cultural landmarks, the location ensures sustained tenant demand.
The property has been meticulously maintained with recent upgrades, including compliance with mandatory retrofitting requirements. For investors seeking a blend of stability and growth in one of Los Angeles' most desirable rental markets, this asset offers a compelling opportunity to achieve both capital preservation and appreciation.
Analysis & Reports
Investment Note
Investment Committee Memorandum
DOWNLOAD INVESTMENT NOTEGP & Property Details
Report on the Property and General Partner
DOWNLOAD ONE PAGERFrequently Asked Questions (FAQs)
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Yes; our projects pay out a monthly or quarterly dividend providing our clients with the benefits of periodic cash flow in addition to the property appreciation found at the cornerstone of all our deals on our platform.