Prepared Exclusively for Young J. Park and Hee Sun Park
August 2026
The LAAA Team has closed 490 transactions totaling $1.55B across 21 states and Washington, D.C., including 340 apartment sales covering 4,668 units.
Our public, continuously maintained reach combines active email subscribers, owner and investor contacts, a building-owner database, and targeted direct buyer calls for each listing.
Most brokers are reactive. They post the listing, run an email blast, and wait for the phone to ring. We do all of that, and we do it well. Then we do the part almost nobody does. We pick up the phone.
Before your building goes to market, our system builds a probable buyer list for it specifically. It pulls the county assessment record for every property in the surrounding area: who owns it, where their mail goes, what they paid, when they bought, who financed it, and how many other buildings they hold. Out of that come the three groups most likely to buy your building. Owners of comparable product nearby. Buyers who have closed on buildings like yours recently. Exchange buyers with money that has to be placed on a deadline.
That list runs well over 100 names, and we call every one of them.
This is a proven system and we built it ourselves. It is not a Marcus & Millichap product and it did not come with the brand. Our team designed it, we own it, and we use it on every listing we take.
Sitting on top of it is the part software cannot buy. Careers spanning 20 years of notes on these same buyers. We have their direct numbers and their emails. We know what they bought last, what they passed on and why, and what they are hunting for now. Every seller we take on inherits all of it on day one.
Then we work it. Buyer lists, offer matrices, and a straight answer every week on who called, who toured, and what they said.
The campaign will combine direct buyer outreach, the Marcus & Millichap platform, and dedicated digital presentation of the property.
4577 Rosewood Avenue is an eight-unit apartment building at the corner of Rosewood Avenue and North Serrano Avenue in central Los Angeles, one block south of the Beverly Boulevard corridor in the 90004 zip code.
Built in 1963, the two-story wood-frame building totals 7,256 SF on a 6,747 SF LAR3 lot and contains six 1-bed / 1-bath units and two 2-bed / 2-bath units. All eight units are occupied. The property has been held by the same ownership since December 2012.
Current scheduled rent of $10,976 per month sits approximately 31% below the supported market level of $16,000 per month, giving an incoming buyer significant long-term upside as units turn over under the Los Angeles Rent Stabilization Ordinance.
The recommended pricing positions the property for private investors seeking stabilized day-one income from a low-basis RSO asset with deep mark-to-market upside. At $162,500 per unit the subject enters the market below every comparable sale in the set on a per-unit basis, reflecting its below-market in-place rents.
The property sits in the 90004 zip code between Beverly Boulevard and Melrose Avenue, in the pocket where East Hollywood, Larchmont and Koreatown meet. Retail and dining line Beverly Boulevard one block north and Western Avenue two blocks east.
The location is roughly one mile north of the Wilshire/Western Metro D Line station and within a short drive of the Hollywood, Larchmont Village and Koreatown employment and entertainment districts. The surrounding blocks are predominantly 1920s to 1960s multifamily, and the submarket is registered in the Wilshire service area of the Los Angeles Housing Department.
| Property & Location Details | |
|---|---|
| Address | 4577 Rosewood Ave |
| City | Los Angeles, CA 90004 |
| APN | 5521-019-001 |
| Year Built | 1963 |
| Building SF | 7,256 |
| Lot Size | 6,747 SF (0.155 ac) |
| Units | 8 |
| Parking | Parking configuration to be verified with ownership |
| Property Overview | |
|---|---|
| Units | 8 |
| Year Built | 1963 |
| Building SF | 7,256 |
| Lot SF | 6,747 |
| APN | 5521-019-001 |
| Unit Mix | |
|---|---|
| 6x 1 Bed / 1 Bath | - SF |
| 2x 2 Bed / 2 Bath | - SF |
The building is a 1963 two-story wood-frame walk-up of 7,256 SF per assessor records. Domestic hot water is supplied by a central gas water heater, laundry is provided through a WASH machine contract, and the owner currently pays LADWP electric and water, LA Sanitation sewer and solid waste, SoCalGas for the central water heater, and Athens trash service.
Soft-story retrofit permits were issued by LADBS in 2020 and 2022; completion status and the certificate of compliance should be verified during diligence. Parking configuration, unit interiors and overall condition should be confirmed by inspection.
Local value-add investor
An owner-operator who manages RSO product in Koreatown, East Hollywood or Hancock Park and underwrites turnover upside unit by unit.
1031 exchange buyer
An exchange buyer seeking a manageable eight-unit asset with day-one income and long-term rent growth in a central location.
Lead with the mark-to-market story
Anchor the campaign on the spread between $10,976 in-place and $16,000 supported monthly rent, with pro forma economics buyers can verify against the rent comp set.
Price against the closed comp set
At $162,500 per unit the subject undercuts every comparable sale in the set, creating urgency among value-add buyers who track this corridor.
| Address | Unit Type | SF | Asking Rent | Distance |
|---|---|---|---|---|
| 963 N Serrano Ave | 2 Bed / 2 Bath | 700 | $2,699 | 0.63 mi |
| 114 S Gramercy Pl | 2 Bed / 2 Bath | 900 | $2,580 | 0.64 mi |
| 712 N Ardmore Ave | 2 Bed / 1 Bath | - | $2,750 | 0.37 mi |
| 508 N Kenmore Ave | 1 Bed / 1 Bath | 660 | $1,850 | 0.47 mi |
| 512 N Alexandria Ave | 1 Bed / 1 Bath | - | $1,835 | 0.39 mi |
| Average (5 rent comps) | 753 | $2,343 | 0.50 mi | |
Nearby asking rents for renovated and well-kept units support $1,800 per month for 1-bed / 1-bath units and $2,600 per month for 2-bed / 2-bath units. These asking rents provide a market sensitivity for units recovered at turnover and are not represented as achieved subject rents. Under the Los Angeles Rent Stabilization Ordinance, pro forma rents assume re-rent at market on vacancy.
| Address | Yr | Units | Bldg SF | Sale Price | $/Unit | $/SF | GRM | Cap | Date |
|---|---|---|---|---|---|---|---|---|---|
| 5500 Barton Ave | 1921 | 5 | 2,816 | $1,785,000 | $357,000 | $634 | - | - | August 20, 2025 |
| 502 N Serrano Ave | 1956 | 8 | 7,456 | $1,715,000 | $214,375 | $230 | - | - | February 25, 2026 |
| 5527 Barton Ave | 1963 | 7 | 6,046 | $1,600,000 | $228,571 | $265 | - | - | September 18, 2025 |
| 4124-4126 1/2 Monroe St | 1948 | 7 | 4,605 | $1,670,000 | $238,571 | $363 | - | - | March 17, 2026 |
| Median (4 comps) | 5,326 | $1,692,500 | $233,571 | $314 | - | - | - | ||
Four closed sales within roughly 1.2 miles of the subject, recorded between August 2025 and March 2026, frame the market for 5 to 8 unit properties in this corridor. The set brackets a median of approximately $233,571 per unit, with the closest physical match, 502 N Serrano Ave, trading at $214,375 per unit in February 2026.
1. 5500 Barton Ave - A five-unit, two-building 1921 property on an 8,600 SF RD1.5 lot in the Barton Avenue pocket of Hollywood that closed in August 2025 for $1,785,000. Demonstrates what buyers pay for small-unit-count product in the adjacent Hollywood submarket; its $357,000 per unit is the top of the set. A much smaller building on a two-structure lot; the per-SF figure is not directly comparable to the subject.
2. 502 N Serrano Ave - An eight-unit 1956 building of 7,456 SF, two blocks from the subject on the same street grid, that closed in February 2026 for $1,715,000. The closest match in the set on unit count, vintage, size and location, at $214,375 per unit and $230 per SF. In-place income at sale was not disclosed; the income basis may differ from the subject's.
3. 5527 Barton Ave - A seven-unit building of the subject's exact 1963 vintage, totaling 6,046 SF, that closed in September 2025 for $1,600,000. Matches the subject's construction era and scale and establishes $228,571 per unit in the adjacent Hollywood pocket. Slightly smaller building and different unit mix; condition at sale not verified.
4. 4124-4126 1/2 Monroe St - A seven-unit, two-building 1948 property on a 10,866 SF lot in East Hollywood that closed in March 2026 for $1,670,000. A recent closing at $238,571 per unit that shows continued buyer depth for sub-10-unit product east of the subject. Smaller improvements on a much larger lot; part of the price is attributable to land.
| Units | Type | Approx SF | Current Rent | Current Monthly | Market Rent | Market Monthly |
|---|---|---|---|---|---|---|
| 6 | 1 Bed / 1 Bath | - | $1,252 | $7,515 | $1,800 | $10,800 |
| 2 | 2 Bed / 2 Bath | - | $1,730 | $3,461 | $2,600 | $5,200 |
| Total Scheduled Rent | $1,372 | $10,976 | $2,000 | $16,000 | ||
| Additional Income | - | $113 | - | $113 | ||
| Monthly Scheduled Gross Income | - | $11,089 | - | $16,113 | ||
| Current | Market | |
|---|---|---|
| Scheduled Gross Income | $133,068 | $193,356 |
| Vacancy Reserve at 3.0% | ($3,951) | ($5,760) |
| Gross Operating Income | $129,117 | $187,596 |
| Operating Expenses | ($63,859) | ($66,783) |
| Net Operating Income | $65,258 | $120,813 |
| Loan Payments | ($49,815) | ($49,815) |
| Pre-Tax Cash Flow | $15,443 | $70,998 |
| Principal Reduction | $7,128 | $7,613 |
| Total Return Before Taxes | $22,571 | $78,611 |
| Current | Pro Forma | |
|---|---|---|
| Real Estate Taxes[1] | $16,250 | $16,250 |
| Insurance[2] | $8,000 | $8,000 |
| Utilities - Electric & Water[3] | $9,594 | $9,594 |
| Utilities - Sewer[4] | $6,072 | $6,072 |
| Utilities - Gas[5] | $2,283 | $2,283 |
| Trash Removal[6] | $4,404 | $4,404 |
| Repairs & Maintenance[7] | $6,000 | $6,000 |
| Contract Services[8] | $3,200 | $3,200 |
| General & Administrative[9] | $1,600 | $1,600 |
| Management Fee[10] | $6,456 | $9,380 |
| Total Operating Expenses | $63,859 | $66,783 |
| Expense Ratio | 49.5% | 35.6% |
| Per Unit | $7,982 | $8,348 |
| Per Square Foot | $8.80 | $9.20 |
[1] Real Estate Taxes: Reassessed at the recommended value and the 1.25% Los Angeles County rate ($1,300,000 x 1.25% = $16,250).
[2] Insurance: Underwritten allowance of $1,000 per unit per year; actual policy to be quoted during diligence.
[3] Utilities - Electric & Water: Annualized from the owner's actual LADWP bill: $1,600 for the two-month cycle May 13 to July 14, 2026 (house electric plus water).
[4] Utilities - Sewer: Annualized from the LA Sanitation sewer and solid waste charges billed through LADWP: $1,012 for the same two-month cycle.
[5] Utilities - Gas: Annualized from the owner's actual SoCalGas bill for the central water heater: $190 for the 31-day cycle May 29 to June 29, 2026.
[6] Trash Removal: Annualized from the Athens Services invoice: $367 per month for a 4-yard bin with weekly pickup.
[7] Repairs & Maintenance: Underwritten allowance of $750 per unit per year.
[8] Contract Services: Underwritten allowance of $400 per unit per year.
[9] General & Administrative: Underwritten allowance of $200 per unit per year.
[10] Management Fee: Underwritten at 5% of effective gross income. Management fee percentage and basis are stated assumptions of this analysis.
Owner-reported figures are unaudited. A buyer should verify all income and expenses in due diligence.
| Operating Data | |
|---|---|
| Price | $1,300,000 |
| Number of Units | 8 |
| Price per Unit | $162,500 |
| Price per SF | $179.16 |
| Current GRM | 9.87 |
| Market GRM | 6.77 |
| Current Cap Rate | 5.02% |
| Market Cap Rate | 9.29% |
| Proposed Financing | |
|---|---|
| Loan Amount | $650,000 |
| Down Payment | $650,000 |
| Interest Rate | 6.60% |
| Amortization | 30 years |
| DCR | 1.31 |
The recommended value of $1.3M equates to $162,500 per unit and $179 per SF, a 5.02% cap rate and 9.87 GRM on current operations, and a 9.29% cap rate and 6.77 GRM at supported market rents.
The value reflects the subject's current income basis against the comparable-sale evidence: every closed comp in the set traded above $214,000 per unit, while the subject's in-place rents average 31% below market. The pricing gives a buyer a defensible current yield with clearly identified upside on turnover.
Supported value range: $1,300,000
Current rents are taken from the owner-provided rent roll as of August 2026. Utility expenses are annualized from actual owner bills (LADWP, LA Sanitation, SoCalGas, Athens Services); insurance, repairs and maintenance, contract services, general and administrative, and management are underwritten allowances.
Market rents are asking rents at nearby comparable properties and are not represented as achieved subject rents. Buyer to verify all information during diligence.
Soft-story retrofit permits were issued in 2020 and 2022; completion and certificate of compliance to be verified.
Laundry income is based on the WASH collection history provided by ownership (approximately $113 per month paid to owner).