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    The Largest CRE Database in the US with Over 1 Million Listings

    224 W 84Th St Los Angeles, CA 90003

    Sponsored
    For Sale
    $879,000

    MULTI_FAMILY - Los Angeles, CA

    Property size:
    1,933 SF
    Lot size:
    0.12 Acres
    Days on Market:
    5
    Last Refresh:
    Feb 8 at 3:06 pm

    Property Features for 224 W 84Th St

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    LAR3
    Rooms
    Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 3
    Bedrooms
    4
    Bathrooms
    3
    APN
    6040-002-024
    Parking
    4
    Parking features
    Driveway
    Size
    1,933 SF
    Lot size
    0.12 Acres

    Building Details

    Year built
    1922
    Floors in Building
    1
    Number of units
    3
    Flooring type
    Mixed
    Roof type
    Shingle, Composition

    We can help!

    Listing Contact
    Kory Jackson

    eXp Realty (888) 832-7179

    Listing agent Kory Jackson (888) 584-9427 License #01315324

    Listing date Feb 4, 2026

    MLS# 26647291

    Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    South Los Angeles Multi-Unit Property

    Located in South Los Angeles, this multi-unit property, built in 1922, is situated on a 5,401 sq ft lot. According to public records, the property is legally a duplex but functions as a three-unit configuration. The improvements total approximately 1,933 sq ft and include two 1-bedroom/1-bath units, with one currently vacant, and one 2-bedroom/1-bath unit. An additional 1-bedroom unit, constructed in the 1950s, is not permitted. Zoned LAR3, the property offers flexibility for investors, owner-users, or developers seeking density in a transit-connected urban corridor. The layout allows for unit separation, functional floor plans, and outdoor space. The vacant unit presents immediate upside through renovation or repositioning. The neighborhood has steady reinvestment and infrastructure momentum. Residents have access to retail corridors along Broadway, Vermont, and Florence, with grocery stores, restaurants, and everyday services nearby. Green spaces and community amenities include neighborhood parks, recreation centers, and local libraries. Proximity to major arterials supports commuting to Downtown Los Angeles, USC, Inglewood, and the Westside. With LAR3 zoning and an established multi-unit footprint, this property presents future-use scenarios: hold and improve, pursue unit legalization, reconfigure layouts, or explore higher-density redevelopment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.27691
    Latitude
    33.962982

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    FAQs

    What type of property is this?
    Multifamily property - Three-unit property with income and value-add potential in Los Angeles.
    Where is this multifamily property located?
    The property is located at 224 W 84Th St Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $879,000.
    What are key features of this property?
    This property features: - Three-unit configuration provides immediate income potential with one vacant unit.; - LAR3 zoning and a 5,401 sq ft lot offer flexibility for various future uses, including redevelopment.; - Located in a reinvestment area of South Los Angeles with convenient access to retail, services, and transportation.
    (310) 717-3720
    Request Owner's contact information
    224 W 84Th St Los Angeles, CA 90003
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    Los Angeles, CA 90003
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    224 W 84Th St Los Angeles, CA 90003
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    We can help!
    Listing Contact
    Kory Jackson
    Real Estate License ID: 01315324
    (310) 717-3720
    Learn more
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