Fully Remodeled 4-Unit
For Sale
$1,469,000
532 W 51st St, Los Angeles, CA 90037
MULTI_FAMILY - Los Angeles, CA
Property Size3,326 SF
Lot Size0.13 Acres
Price / SF$441.67
Days on Market43
Property Features for 532 W 51st St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LARD2
Bedrooms
12
Bathrooms
8
Full bathrooms
7
Rooms
Bedroom 7, Bathroom 8, Bathroom 4, Bedroom 4, Bedroom 6, Bathroom 3, Bedroom 1, Bathroom 7, Bedroom 5, Bedroom 11, Bathroom 6, Bathroom 1, Bedroom 2, Bedroom 3, Bathroom 5, Bedroom 9, Bedroom 10, Bedroom 8, Bathroom 2, Bedroom 12
Parking
4
Directions
Between Figueroa and Hoover
Subdivision
Downtown L.A.
Standard status
Active
APN
5001-032-005
Size
3,326 SF
Lot size
0.13 Acres
Utilities
Heating system
Heat Pump (Heating)
Building Details
Year built
1965
Floors in Building
2
Number of units
4
Listing Agency:
Keller Williams Encino/Sherman Oaks · Keller Williams Realty
(818) 475-3575
Listed By:
Farhoud Bastanfar · License #01738433
(310) 486-1224
Added: Jun 19
Changed: Jul 31
Last Checked: Jul 31 at 11:06PM
MLS# 26852301
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.
Investment Insights
Based on property information with market context.
This fully remodeled 4-unit quadplex at 532 W 51st St, Los Angeles, CA 90037 is delivered vacant, giving an investor the flexibility to set rents and select tenants from day one. The property was built in 1965 and totals 3,326 square feet on a 0.1263-acre lot. Heating is provided by a heat pump.
Renovations are described as top-to-bottom upgrades, including a new roof, stucco, interior and exterior paint, electrical and plumbing updates, new windows, HVAC upgrades, tankless water heaters, updated flooring, doors, and upgraded bathrooms and kitchen finishes with granite countertops. The remarks also note one unit is a brand new ADU built in 2026.
The current cap rate projection is exceeding 7%. The listing notes bedroom and bathroom counts may differ from recorded title. Location highlights include being minutes from USC University, Downtown Los Angeles, and major shopping centers.
Renovations are described as top-to-bottom upgrades, including a new roof, stucco, interior and exterior paint, electrical and plumbing updates, new windows, HVAC upgrades, tankless water heaters, updated flooring, doors, and upgraded bathrooms and kitchen finishes with granite countertops. The remarks also note one unit is a brand new ADU built in 2026.
The current cap rate projection is exceeding 7%. The listing notes bedroom and bathroom counts may differ from recorded title. Location highlights include being minutes from USC University, Downtown Los Angeles, and major shopping centers.
Key Highlights
- Zoned LARD2 with 0.1263‑acre lot and 3,326 SF total area
- Fully remodeled upgrades include new roof, stucco, interior/exterior paint, electrical and plumbing
- Delivered vacant, allowing tenants and rents to be set from day one
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $81.4k | $24.48 |
| − Vacancy | −$2.0k | −$0.61 |
| EGI | $79.4k | $23.87 |
| − OpEx | −$23.8k | −$7.16 |
| NOI | $55.6k | $16.71 |
3,326 SF · lease $24.48/SF/yr · vacancy 2.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$793.8K
$694.6K – $926.2K
NOI $55,569 @ 7.0% cap · market cap 3.78%
Second Best
Apartment 5plus
$705.6K
$617.4K – $823.2K
NOI $49,390 @ 7.0% cap · market cap 3.36%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,227 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,948
Businesses Nearby
Explore this area
Business Placement
Demographics for 90037, CA
63,706
Population
18,709
Households
3.4
Avg Household Size
33
Median Age
9%
College-Educated
54%
High-School Grad
2.9 sq mi
ZIP Area
21,968
Density / Sq Mi
$56,417
Median Household Income
$29,857
Median Earnings
$1,438
Median Rent
$632,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Zoned LARD2 and delivered vacant, this fully remodeled quadplex includes a heat pump system and updated building systems.
Where is this quadplex located?
The property is located at 532 W 51st St Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,469,000.
What are key features of this property?
This property features: Zoned LARD2 with 0.1263‑acre lot and 3,326 SF total area; Fully remodeled upgrades include new roof, stucco, interior/exterior paint, electrical and plumbing; Delivered vacant, allowing tenants and rents to be set from day one
