Palm Court Apartments — Sale in Los Angeles, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Los Angeles, CA 90036

Investment Figures

Cap rate
4.63%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

The Palm Court Apartments presents a premier multifamily investment opportunity in Los Angeles’ dynamic Miracle Mile submarket, delivering upscale urban living in a high-barrier-to-entry locale. Built in 1988, this 132-unit Class A property—featuring a versatile mix of 48 one-bedroom/one-bath units, 72 two-bedroom/two-bath units, and 12 three-bedroom/two-bath units across approximately 136,488 square feet on a 1.2-acre site at 740 S. Burnside Avenue. The subject property has undergone extensive recent upgrades, transforming it into a modern luxury asset that commands premium rents and 95%+ occupancy. The Palm Court Apartments is subject to California State Rent Control under AB 1482 (Tenant Protection Act), which caps annual increases at 5% plus CPI (up to 10%), fostering tenant stability while allowing for predictable yearly growth through allowable adjustments and proactive leasing. Recent enhancements, including a revamped fitness center with Peloton bikes, heated pool and spa, and unit interiors boasting quartz countertops and stainless steel appliances. The Palm Court Apartments is ideally situated in a Walk Score 94 neighborhood with affluent demographics (median income $110,000+), low submarket vacancy (under 4%), and proximity to employment centers like Century City and Hollywood. Investment Highlights: • Phenomenal Miracle Mile Location • 1988 Construction, Subject to State Rent Control AB1482 • Newly upgraded heated pool and spa; state-of-the-art fitness center; his-and-hers saunas; rooftop sundeck/lounge, on-site laundry, gated parking

Market Context

This multifamily in Los Angeles, CA is listed for sale. It is offered at an approximate 4.6% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 days. Compare it against other multifamily listings for sale in Los Angeles, CA — view the full market.

As of Q1 2026, the Greater Los Angeles multifamily market showed average asking rents near $2333.00/unit/mo, and cap rates around 5.0%. Source: multiple brokerage reports, Q1 2026.

Its 4.6% asking cap rate is below the Greater Los Angeles multifamily market average of about 5.0%, reflecting premium pricing relative to comparable assets.

Multifamily market FAQ

What is the typical cap rate for multifamily in Greater Los Angeles?
About 5.0% as of Q1 2026, per multiple brokerage reports.

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