Brand-New 2026 Construction | 5 Year Fully Master-Leased | 8.47% Cap Rate | Non-RSO, No Rent Control. A rare turnkey opportunity at 636 & 634 W. 76th Street: two newly constructed (2026) apartment buildings totaling 5 units, 24 bedrooms, and 8,968 SF on a large 7.000 +/- sqft parcel, offered at $3,195,000 (8.47% cap rate, 11.10 GRM). The entire property operates under a single master lease generating $287,760 in annual gross income, with an in-place master lease with contractual annual rent escalations of 5% (3% minimum floor.) Landlord responsibility limited to just two line items: property tax and insurance. No leasing, no tenant screening, no maintenance calls, no vacancy risk to manage. Ideal for 1031 Exchange Buyers: A fully stabilized, income-documented replacement property that lets exchangers close with confidence and skip the lease-up uncertainty that complicates so many 1031 acquisitions. Built for Cost Segregation Strategies: As ground-up 2026 construction, the property offers a high depreciable basis relative to land value and all-new building components the kind of asset profile investors and their CPAs look for when structuring a cost segregation study to accelerate depreciation and offset tax liability. (Buyers should consult their tax advisor to confirm applicability to their situation.) Built for the Passive Investor: For physicians, attorneys, business owners, and other high-earning professionals who want real estate exposure without a second job, this master-leased structure delivers one monthly deposit and one point of contact, not five separate tenancies to manage. Buildings are townhome-style and have separately metered utilities. Zoned [Q]R3-1 in Council District 8, minutes from the I-110 and I-105, and close to USC, Downtown LA, and the SoFi Stadium/Hollywood Park employment corridors. NFPA-13D fire sprinklers, rooftop solar, and gated private parking throughout. This is new construction with the passive income profile investors spend years trying to find.