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

    2901 Somerset Dr Los Angeles, CA 90016

    Sponsored
    For Sale
    $1,624,900

    MULTI_FAMILY - Los Angeles, CA

    Property size:
    5,034 SF
    Lot size:
    0.13 Acres
    Days on Market:
    13
    Last Refresh:
    Jan 31 at 12:06 pm

    Property Features for 2901 Somerset Dr

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Security features
    Security Lighting
    Window features
    Double Pane Windows, Screens
    Zoning
    LARD2
    Rooms
    Bedroom 8, Bedroom 10, Bathroom 1, Bathroom 3, Bedroom 2, Bathroom 6, Bathroom 2, Bedroom 3, Bedroom 6, Bedroom 7, Bathroom 8, Bedroom 9, Bathroom 9, Bathroom 5, Bedroom 5, Bedroom 1, Bathroom 7, Bathroom 4, Bedroom 4
    Bedrooms
    10
    Bathrooms
    9
    APN
    5050-020-001
    Parking
    3
    Parking features
    Assigned, Garage
    Fireplace
    1
    Appliances
    Cooktop - Gas, Microwave, Oven
    Size
    5,034 SF
    Lot size
    0.13 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1929
    Floors in Building
    2
    Number of units
    6
    Flooring type
    Engineered, Mixed, Hardwood

    We can help!

    Listing Contact
    Wesley D Earley

    Equity Union Real Estate (818) 989-2000

    Listing agent Wesley Earley (424) 600-7620 License #01412888

    Listing date Jan 19, 2026

    MLS# 25586817

    Copyright © 2026 TheMLSCLAW. 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

    Spanish-Style Multifamily in Mid-City

    This charming, well-maintained Spanish-style 6-unit building is located in the desirable Mid-City/West Adams neighborhood of Los Angeles, between Adams and Jefferson Blvd. Situated on a prominent corner lot, the property comprises two separate buildings. The majority of units have been updated within the past 7 years and feature modern kitchens, renovated baths, in-unit washer/dryers, and central air & heat. The property offers three garage spaces, three additional parking spots, and extra storage. The property has market-rate rents and room for additional income growth, and presents ADU potential by converting the garage and storage area. Recent improvements include updated plumbing and electrical systems and low-maintenance landscaping with sprinklers. The property has a strong rental history with consistently low vacancy. The building size is 5034 square feet and the lot size is 0.1301 acres. The zoning is LARD2. There is additional storage on the property. One 2-bed/2-bath unit is currently vacant.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    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
    -118.337673
    Latitude
    34.029306

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    FAQs

    What type of property is this?
    Apartment building - Charming 6-unit building in desirable Mid-City/West Adams neighborhood.
    Where is this apartment building located?
    The property is located at 2901 Somerset Dr Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $1,624,900.
    What are key features of this property?
    This property features: - Updated Units: Majority of units updated within the past 7 years with modern kitchens, renovated baths, in-unit washer/dryers, and central air & heat.; - Income Growth Potential: Market-rate rents with room for additional income growth and ADU potential by converting garage and storage area.; - Prime Location: Located in the desirable Mid-City/West Adams neighborhood.
    (424) 600-7620
    Request Owner's contact information
    2901 Somerset Dr Los Angeles, CA 90016
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    Los Angeles, CA 90016
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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
    2901 Somerset Dr Los Angeles, CA 90016
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    We can help!
    Listing Contact
    Wesley D Earley
    (424) 600-7620
    Learn more
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