This turnkey four-unit income property presents an outstanding investment opportunity, featuring a beautifully remodeled Unit 2 with a modern, high-end aesthetic and a newly constructed ADU with its own private entrance. The spacious unit mix offers strong tenant appeal while providing excellent long-term income potential. Ideally located near Cal State LA and with convenient access to Downtown Los Angeles and other major employment and lifestyle destinations, the property benefits from consistent rental demand. With projected rental increases, investors have the opportunity to achieve an estimated 5.1% capitalization rate, making this an attractive option for both long-term investors seeking stable cash flow and owner-occupants looking to offset ownership costs with rental income.
Current Rents (Total: $7,619.43/month)
Unit 1: 3 Bed / 2 Bath - $1,609.81
Unit 2: 2 Bed / 2 Bath - $2,250
Unit 3: 2 Bed / 2 Bath - $1,259.62
Unit 4 (ADU): 2 Bed / 2 Bath - $2,500
Current Financials:
Annual Net Income: $69,928.57
Net Operating Income (NOI): $69,928.57
Annual Operating Expense: $21,504.59
Gross Rent Multiplier (GRM): 14.76%
Capitalization Rate (Cap Rate): 5.18%
For sale
Listed by: eXp Realty of Greater Los Angeles • Steven Gray • Contact: 888-652-1314
$1,350,000
5150 Ithaca Ave, Los Angeles, CA 90032
8beds
8baths
3,250sqft
Quadruplex
Built in 1988
-- sqft lot
$1,339,600 Zestimate®
$415/sqft
$-- HOA
What's special
- 1 day |
- 76 |
- 3 |
Zillow last checked:
Listing updated:
Listed by:
Steven Gray DRE #02194905 213-570-9275,
eXp Realty of Greater Los Angeles
Source: CRMLS,MLS#: PW26156976
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSLoading...
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 8
Heating
- Combination, Ductless
Cooling
- Ductless
Appliances
- Included: Built-In Range
- Laundry: Common Area
Features
- Flooring: See Remarks
- Has fireplace: No
- Fireplace features: None
- Common walls with other units/homes: 2+ Common Walls
Interior area
- Total structure area: 3,250
- Total interior livable area: 3,250 sqft
Property
Parking
- Total spaces: 2
- Parking features: Garage
- Garage spaces: 2
Accessibility
- Accessibility features: None
Features
- Levels: Two
- Stories: 2
- Entry location: 2
- Pool features: None
- Spa features: None
- Has view: Yes
- View description: None
Lot
- Size: 4,801 Square Feet
- Features: 0-1 Unit/Acre
Details
- Parcel number: 5216021010
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex
- Attached to another structure: Yes
Condition
- New construction: No
- Year built: 1988
Utilities & green energy
- Electric: Standard
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
Community & HOA
Community
- Features: Street Lights, Sidewalks, Urban
Location
- Region: Los Angeles
Financial & listing details
- Price per square foot: $415/sqft
- Tax assessed value: $865,943
- Annual tax amount: $10,736
- Date on market: 7/18/2026
- Cumulative days on market: 1 day
- Listing terms: Cash,Conventional,FHA
Estimated market value
$1,339,600
$1.27M - $1.41M
$3,454/mo
Price history
| Date | Event | Price |
|---|---|---|
| 7/18/2026 | Listed for sale | $1,350,000$415/sqft |
Source:  CRMLS #PW26156976 Report a problem | ||
| 3/25/2026 | Listing removed | $1,350,000$415/sqft |
Source: eXp Realty #PW25059012 Report a problem | ||
| 1/31/2026 | Price change | $1,350,000-3.6%$415/sqft |
Source: eXp Realty #PW25059012 Report a problem | ||
| 12/16/2025 | Price change | $1,400,000-3.4%$431/sqft |
Source: eXp Realty #PW25059012 Report a problem | ||
| 6/23/2025 | Listed for sale | $1,450,000-3.3%$446/sqft |
Source:  SDMLS #PW25059012 Report a problem | ||
| 3/4/2025 | Listing removed | $1,499,000$461/sqft |
Source:  CLAW #24-443853 Report a problem | ||
| 2/17/2025 | Listing removed | $3,500$1/sqft |
Source:  CLAW #24-443857 Report a problem | ||
| 11/14/2024 | Price change | $1,499,000-9.1%$461/sqft |
Source: CLAW #24-443853 Report a problem | ||
| 9/23/2024 | Listed for rent | $3,500$1/sqft |
Source: CLAW #24-443857 Report a problem | ||
| 9/18/2024 | Listing removed | $3,500$1/sqft |
Source: CLAW #24-413715 Report a problem | ||
| 7/10/2024 | Listed for rent | $3,500$1/sqft |
Source: CLAW #24-413715 Report a problem | ||
| 5/22/2024 | Listing removed | $1,649,500$508/sqft |
Source: CLAW #24-385321 Report a problem | ||
| 5/14/2024 | Listed for sale | $1,649,500+106.2%$508/sqft |
Source: CLAW #24-385321 Report a problem | ||
| 6/23/2021 | Sold | $800,000+0.6%$246/sqft |
Source:  Glendale AOR ZDD #320006180 Report a problem | ||
| 6/4/2021 | Pending sale | $795,000$245/sqft |
Source: Glendale AOR ZDD #320006180 Report a problem | ||
| 5/22/2021 | Listed for sale | $795,000+117.2%$245/sqft |
Source: Glendale AOR ZDD #320006180 Report a problem | ||
| 12/27/2010 | Sold | $366,000-42.7%$113/sqft |
Source: Public Record Report a problem | ||
| 5/1/2008 | Listing removed | $639,000$197/sqft |
Source: Postlets #07-196287 Report a problem | ||
| 4/11/2008 | Listed for sale | $639,000+11.1%$197/sqft |
Source: Postlets #07-196287 Report a problem | ||
| 2/12/2007 | Sold | $575,000$177/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $10,736 +1.5% | $865,943 +2% |
| 2024 | $10,578 +1.9% | $848,965 +2% |
| 2023 | $10,375 +4.8% | $832,320 +2% |
| 2022 | $9,896 +81.3% | $816,000 +88.4% |
| 2021 | $5,458 -0.9% | $433,194 +1% |
| 2020 | $5,508 | $428,753 +2% |
| 2019 | $5,508 +5.2% | $420,348 +2% |
| 2018 | $5,235 | $412,106 +2% |
| 2017 | $5,235 +2.2% | $404,026 +2% |
| 2016 | $5,123 +2.7% | $396,105 +1.5% |
| 2015 | $4,986 +0.7% | $390,156 +2% |
| 2014 | $4,949 | $382,514 +2.5% |
| 2012 | -- | $373,320 +2% |
| 2011 | -- | $366,000 -38.7% |
| 2010 | -- | $596,811 -0.2% |
| 2009 | -- | $598,230 +2% |
| 2008 | -- | $586,500 +86.1% |
| 2007 | -- | $315,134 +2% |
| 2006 | -- | $308,956 |
| 2005 | -- | $308,956 +4% |
| 2004 | -- | $296,961 +1.9% |
| 2003 | -- | $291,519 +16.6% |
| 2002 | -- | $250,000 +20.8% |
| 2000 | -- | $207,000 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: El Sereno
Nearby schools
GreatSchools rating
- 6/10Farmdale Elementary SchoolGrades: K-5Distance: 0.4 mi
- 7/10El Sereno Middle SchoolGrades: 6-8Distance: 0.6 mi
- 6/10Woodrow Wilson Senior High SchoolGrades: 9-12Distance: 0.7 mi
- $940,2007 bd4 ba2.5k sqft5150 Ithaca Ave #1-3, Los Angeles, CA 90032Off Market
- $--2 bd2 ba-- sqft5150 Ithaca Ave #2, Los Angeles, CA 90032Off Market
- $--2 bd2 ba750 sqft5150 Ithaca Ave #5152, Los Angeles, CA 90032Off Market
- $422,1982 bd1 ba2.4k sqft5154 Ithaca Ave, Los Angeles, CA 90032Off Market
- $--2 bd1 ba-- sqft5154 Ithaca Ave #2, Los Angeles, CA 90032Off Market
- $--2 bd1 ba-- sqft5146 Ithaca Ave #C, Los Angeles, CA 90032Off Market
- $--2 bd1 ba-- sqft5146 Ithaca Ave #B, Los Angeles, CA 90032Off Market
- $--2 bd1 ba800 sqft5146 Ithaca Ave APT A, Los Angeles, CA 90032Off Market
A local agent can set up tours, give advice and negotiate with sellers.
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