Broker Opinion of Value · June 2026
Live read of Los Angeles · Built bottom-up by Taylor Avakian

6858 & 6860 De Longpre Ave

16 units · 1954 · 12,600 bldg sf · 14,047 lot sf
Prepared for Reuben Berman
$3.80M
Most Likely
Realistic close
5.83%
Cap at Mid
Current NOI / Mid price
$238k
$ / Unit
At Most Likely
10.80
GRM
Current rent multiplier
The Three Numbers

Where it clears.

Every property gets three numbers. Low is the defensible floor — the hard number I'd hold in a soft market. Most Likely is the realistic close — what I walk into a buyer conversation with. Reach is the aspirational ask — room for offer-to-reduce dynamics, gives you upside if the trade moves fast.

Low
Defensible floor
$3.60M
$/u
$225k
Cap
6.15%
GRM
10.23
Most Likely
Realistic close
$3.80M
$/u
$238k
Cap
5.83%
GRM
10.80
Reach
Aspirational ask
$4.00M
$/u
$250k
Cap
5.54%
GRM
11.37
Property Snapshot

The building.

Core fundamentals pulled from the rent roll, T-12, and assessor record.

Units
16
(8) 2+1 · (8) 1+1
Year Built
1954
Building SF
12,600
≈ 787 sf/unit
Lot SF
14,047
Zoning
LARD1.5
APN
5548-024-014 / 5548-024-015
City / Zip
Los Angeles, CA 90028
Submarket
Los Angeles
Income Read

Where the rent sits.

Current in-place rents vs. market — the difference is value-add upside.

$351,932
In-Place Annual Rent
From current rent roll
$427,200
Market Rent (Annual)
Per Costar / submarket comps
+21.4%
Upside to Market
$75,268 annual
Unit Type SF In-Place Market Δ to Market
6858 De Longpre #1 2+1 803 $1,479 $2,500 +$1,021
6858 De Longpre #2 1+1 700 $1,995 $1,950 -$45
6858 De Longpre #3 1+1 700 $1,895 $1,950 +$55
6858 De Longpre #4 2+1 803 $1,441 $2,500 +$1,059
6858 De Longpre #5 2+1 803 $1,488 $2,500 +$1,012
6858 De Longpre #6 1+1 700 $1,997 $1,950 -$47
6858 De Longpre #7 1+1 700 $2,131 $1,950 -$181
6858 De Longpre #8 2+1 803 $999 $2,500 +$1,501
6860 De Longpre #1 2+1 803 $2,295 $2,500 +$205
6860 De Longpre #2 1+1 700 $1,588 $1,950 +$362
6860 De Longpre #3 1+1 700 $1,223 $1,950 +$727
6860 De Longpre #4 2+1 803 $2,295 $2,500 +$205
6860 De Longpre #5 2+1 803 $2,395 $2,500 +$105
6860 De Longpre #6 1+1 700 $1,995 $1,950 -$45
6860 De Longpre #7 1+1 700 $1,817 $1,950 +$133
6860 De Longpre #8 2+1 803 $2,295 $2,500 +$205
Operating Snapshot

How it runs.

T-12 expenses normalized to market-rate operating costs (R&M, contract services, turnover, marketing, reserves). Stabilized NOI assumes rents reset to market.

Annualized Expense Walk
Real Estate Taxes $47,500 $2,969/u
Insurance $11,792 $737/u
Property Management $14,077 $880/u
Administrative $3,200 $200/u
Repairs & Maintenance $13,600 $850/u
Electric $1,200 $75/u
Gas $4,416 $276/u
Sewer / Water $11,568 $723/u
Trash $4,272 $267/u
Contract Services $3,200 $200/u
Turnover $1,600 $100/u
Reserves $3,200 $200/u
Total Operating Expenses $119,625 $7,477/u
NOI · As-Is
$221,445
In-place rent · normalized opex
NOI · Stabilized
$290,141
Market rent · normalized opex
Expense Ratio
29.0%
OpEx / EGI · target 32-38%
NOI Uplift to Stabilized
+31.0%
$68,696 annual
Sales Comps

What's trading.

6 recent sales used to anchor the cap rate and per-unit value. Median: $250,437/unit · 5.81% cap.

Sales comp map showing subject property and 6 comparable sales
Subject Sold Comparables (6)
1336 N Citrus Ave
90028 · Built 1962 · 9 units
Sold
2026-04-24
Price
$2.20M
$/u
$244,444
Cap
5.72%
1301 N Mansfield Ave
90028 · Built 1966 · 19 units
Sold
2025-07-23
Price
$3.90M
$/u
$205,263
Cap
5.90%
1254 N Orange Dr
90038 · Built 1957 · 8 units
Sold
2025-10-03
Price
$2.45M
$/u
$306,250
Cap
5.15%
7215 Willoughby Ave
90046 · Built 1930 · 16 units
Sold
2025-07-10
Price
$3.10M
$/u
$193,750
Cap
6.12%
1023-1027 N Sierra Bonita Ave
90046 · Built 1959 · 14 units
Sold
2025-12-31
Price
$3.59M
$/u
$256,429
Cap
5.68%
1235 N Formosa Ave
90046 · Built 1960 · 10 units
Sold
2025-04-29
Price
$2.73M
$/u
$273,000
Cap
6.29%
Sensitivity Analysis

Move the levers, watch the price.

Cap rates shift. Rents push or fall. Use these to stress-test the Most Likely number against your own market read.

Cap Rate Adjustment +0 bps
±100 basis points · tightens or loosens cap on the property
Rent Growth +0%
-10% to +20% · bump or compress income from current in-place
$3.80M
Adjusted Most Likely
No adjustments — same as today's market read.
Net to Owner

What you'd actually net.

Enter your outstanding loan balance and original acquisition basis. The calculator estimates closing costs, capital gains tax (federal LTCG + CA state + depreciation recapture), and what you'd walk away with in cash. Toggle 1031 to defer the tax.

Sale Price (use slider above)
$3.80M
$
$
Sale Price$0
Closing Costs (6%)$0
Loan Payoff$0
Equity Before Tax$0
Capital Gains Tax (Fed 20% + CA 9.3%)$0
Depreciation Recapture (25%)$0
Rough estimate. Actual tax depends on your CPA's depreciation schedule, basis adjustments, and any prior exchanges. Confirm with your CPA before transacting.
Net Cash to Owner$0
Market Read · Los Angeles

How this submarket is trading.

This submarket trades in line with broader LA County dynamics — 5.5–6.5% caps for stabilized multifamily depending on vintage, unit count, and rent control regime. See the comps section above for the specific anchors used in this pricing.

Who You're Working With

WHY I built this.

I'm Taylor Avakian. I sell apartment buildings in Los Angeles, full stop. Not retail, not industrial, not hotels. Multifamily, in this market, every day.

Most owner-broker conversations start with a one-page valuation that doesn't show the work. I built this site for the opposite reason — so you can see exactly how I priced your property, stress-test it against your own assumptions, and decide what to do with the real numbers in front of you. No mystery, no theatrics.

If a deal doesn't pencil, I'll say so. If selling is wrong for you right now, I'll tell you that too. The long game beats the next commission every time.

Read more at thegroupcre.com →
$488M+
Total Closed
1,000+
Properties Valued
97.6%
List-to-Sale Ratio
28%
Faster Than LA Average
Taylor Avakian
The Group CRE · Apartment buildings, LA
916-996-4421 · taylor@thegroupcre.com
DRE #02060040