JUST SOLD: 2104 Mozart Street, Los Angeles – 8-Unit Multifamily Property Secured 26% Below Asking Price

Jared Levine of KW Commercial Represents Buyer in Competitive Lincoln Heights Apartment Building Sale, Closing in Just Three Weeks

In another successful Los Angeles multifamily investment transaction, Jared Levine of KW Commercial represented the buyer in the acquisition of 2104 Mozart Street, Los Angeles, CA 90031, an eight-unit apartment building located in the historic Lincoln Heights neighborhood.

Originally listed for $1,850,000, Levine successfully secured the property for his client at $1,362,500 — a remarkable $487,500, or approximately 26.4%, below the original asking price.

Despite multiple buyers competing for the opportunity, Levine leveraged his industry relationships, strategic negotiation, effective contract terms, and ability to execute quickly to secure the investment for his client. The transaction closed in just three weeks from start to finish.

At approximately $170,313 per unit and $235 per square foot, the acquisition represents an exceptionally low entry basis for a newer-construction, non-RSO multifamily property in the City of Los Angeles.

2104 Mozart Street – Property Details

Located in the desirable Lincoln Heights neighborhood of Northeast Los Angeles, 2104 Mozart Street is a well-maintained eight-unit multifamily investment property constructed in 1993.

Property Highlights:

• Address: 2104 Mozart Street, Los Angeles, CA 90031

• Sale Price: $1,362,500

• Original Asking Price: $1,850,000

• Total Units: 8

• Year Built: 1993

• Building Size: 5,805 Square Feet

• Lot Size: 10,041 Square Feet

• Parking: 9 Spaces

• Unit Mix: Six 1-Bedroom/1-Bathroom Units and Two 2-Bedroom/1-Bathroom Units

• Vacancy at Acquisition: 3 Units

• Utilities: Separately Metered

• Additional Features: Electronic Gated Entry

• Rent Regulation: Not Subject to the Los Angeles City RSO; Subject to California AB 1482

Outstanding Investment Metrics and Significant Upside Potential

At the final purchase price of $1,362,500, the buyer acquired the property at an attractive basis relative to its original asking price.

Acquisition Metrics:

The projected 7.52 GRM and 7.95% capitalization rate reflect the investment's potential utilizing market-based Section 8 rental assumptions for the three vacant apartments, rather than solely the property's in-place income.

With three of the eight apartments vacant at acquisition, the buyer has an opportunity to lease these units and improve the property's income performance.

Additionally, the property's 1993 construction provides an important distinction from many older Los Angeles apartment buildings.

Non-RSO Multifamily Investment in Los Angeles

One of the most attractive characteristics of 2104 Mozart Street is its non-RSO status.

Constructed in 1993, the property is not subject to the City of Los Angeles Rent Stabilization Ordinance (RSO), based on the property's reported classification. Instead, the property is subject to California's statewide Tenant Protection Act, commonly known as AB 1482, along with other applicable rental housing regulations.

For multifamily investors evaluating Los Angeles apartment buildings, understanding the distinction between RSO and non-RSO properties is critical.

Non-RSO properties can provide different opportunities for rental income management and long-term investment planning compared with older, locally rent-stabilized buildings.

With its low acquisition basis, 1993 construction, and three vacant units, 2104 Mozart Street presented a particularly compelling investment opportunity.

Lincoln Heights – A Centrally Located Los Angeles Neighborhood

Situated in historic Lincoln Heights, one of Los Angeles' oldest neighborhoods, 2104 Mozart Street offers residents access to major employment centers, transportation, entertainment, and recreational destinations.

Nearby destinations include:

• Keck Hospital of USC – A major healthcare and employment destination.

• Downtown Los Angeles – Access to employment, dining, shopping, and entertainment.

• Dodger Stadium – One of Los Angeles' most recognizable sports and entertainment venues.

• Chinatown – Restaurants, shopping, and cultural attractions.

• Arts District – A popular destination for dining, entertainment, and creative businesses.

• Union Station – A major regional transportation hub.

• Ernest E. Debs Regional Park – Hiking trails, green space, and outdoor recreation.

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The property's location and access to major Los Angeles destinations add to its appeal as a long-term multifamily investment.

Winning in a Multiple-Buyer Environment

Although the property attracted significant buyer interest, Jared Levine was able to position his client ahead of the competition.

Securing a transaction at the right price takes more than submitting an offer. It requires relationships, credibility, strategic terms, market knowledge, and the ability to perform.

By leveraging established industry relationships, structuring effective contract terms, and demonstrating the ability to close quickly, Levine successfully negotiated the acquisition at nearly half a million dollars below the original asking price.

The entire transaction was completed in approximately three weeks, demonstrating the importance of execution and experience in today's competitive investment market.

The resulting acquisition basis is exceptionally low for a non-RSO multifamily property in the City of Los Angeles and potentially among the lowest on a per-unit basis, although a definitive market ranking has not been established.

Frequently Asked Questions – 2104 Mozart Street and Los Angeles Multifamily Investments

How much did 2104 Mozart Street in Los Angeles sell for?

2104 Mozart Street sold for $1,362,500, approximately 26.4% below its original asking price of $1,850,000. Jared Levine of KW Commercial represented the buyer in the transaction.

What was the price per unit for 2104 Mozart Street?

The eight-unit apartment building sold for approximately $170,313 per unit, representing an attractive acquisition basis for a 1993-built, non-RSO multifamily property in Los Angeles.

Is 2104 Mozart Street subject to Los Angeles rent control?

The property is reported to be exempt from the City of Los Angeles Rent Stabilization Ordinance (RSO) because of its 1993 construction. However, it is subject to California AB 1482 and other applicable tenant protection laws. Investors should independently verify the regulatory status of any investment property.

What was the cap rate for 2104 Mozart Street?

The acquisition reflected an approximately 7.95% projected capitalization rate, based on rental assumptions incorporating market-based Section 8 rents for the three vacant units. Actual returns depend on achieved rents, expenses, and property performance.

Why are non-RSO apartment buildings attractive to Los Angeles investors?

Non-RSO apartment buildings may offer investors greater flexibility under applicable rental regulations than properties subject to the City of Los Angeles RSO. However, statewide rent caps, tenant protections, and other local regulations may still apply.

How long did it take to close the 2104 Mozart Street transaction?

The acquisition was successfully completed in just three weeks from start to finish, despite competition from multiple interested buyers.

Who represented the buyer of 2104 Mozart Street?

Jared Levine of KW Commercial represented the buyer, successfully negotiating the purchase price and structuring the transaction to secure the investment in a competitive environment.

Looking to Buy or Sell an Apartment Building in Los Angeles?

Whether you're seeking an eight-unit apartment building, a non-RSO multifamily investment, a value-add opportunity, or a larger apartment portfolio, having the right commercial real estate advisor can make a significant difference.

Jared Levine of KW Commercial specializes in Los Angeles multifamily investment sales, representing buyers and sellers throughout Los Angeles County.

With extensive market knowledge, established industry relationships, and a proven ability to negotiate and execute transactions, Levine helps investors identify opportunities, navigate challenging market conditions, and achieve their real estate investment objectives.

Thinking about buying or selling a Los Angeles apartment building? Contact Jared Levine of KW Commercial to discuss your multifamily investment goals.

jared@jaredmlevine.com | (818) 657-6556