Selling · 12-unit
Selling a 10–15 Unit Apartment Building in Los Angeles
10–15 unit LA apartment buildings are the workhorse of the local multifamily investment market — big enough to attract serious agency financing and institutional capital, small enough that a private investor or family office can still make the check. Deal flow at this size is deep.
Buyer profile
Wider pool than 5–9 unit product. Local family offices, 1031 exchange capital, small-syndication operators, and out-of-state investors relocating capital into LA all actively bid this size. Value-add operators particularly favor 10–15 units because the total renovation budget is manageable.
Financing patterns
Full agency (Fannie DUS, Freddie Optigo) debt available with the tightest available rates and 10-year fixed terms. Typical 65–75% LTV at 1.25x DSCR. Assumable, non-recourse, long-amortization. Many buyers will pay a premium for a building with an assumable agency loan already in place at a below-market rate.
Typical timeline
90–120 days from listing to close. Marketing 21–30 days; escrow 60–75 days on agency-financed deals due to lender's due diligence timeline (physical needs assessment, environmental, appraisal, legal). Bank-financed buyers can close in 45 days.
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