Vacant Two-Unit
For Sale
$600,000
1017 W 46th, Los Angeles, CA 90037
Includes one livable residence and a second unit requiring substantial renovation.
Property Size2,160 SF
Price / SF$277.78
Days on Market33
Property Features for 1017 W 46th
General Information
Standard status
Active
Size
2,160 SF
Property subtype
MULTI_FAMILY
Building Details
Building Size
2,160 SF
Year Built
1921
Listing Agency:
Kidder Mathews of California
Listed By:
Everett Wong · License #01991247
(562) 286-4343
Source:
Benbelack
Added: Aug 12
Changed: Sep 12
Last Checked: Sep 12 at 2:29PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kidder Mathews of California
Investment Insights
Based on property information with market context.
This 2,160-square-foot duplex contains two 2-bedroom, 1-bathroom residences, with average unit sizes exceeding 1,000 square feet. Both units will be delivered vacant. One residence is described as livable and near move-in ready, while the other requires substantial renovation. A detached garage is located at the rear of the property.
The property occupies a 7,387-square-foot lot at 1017 W 46th in Los Angeles, near Vermont Avenue and 46th Street, with access to major South Los Angeles thoroughfares. The site may also offer potential for additional ADU development, subject to buyer verification. Built in 1921, the property provides a two-unit residential configuration with distinct existing conditions across the residences.
The property occupies a 7,387-square-foot lot at 1017 W 46th in Los Angeles, near Vermont Avenue and 46th Street, with access to major South Los Angeles thoroughfares. The site may also offer potential for additional ADU development, subject to buyer verification. Built in 1921, the property provides a two-unit residential configuration with distinct existing conditions across the residences.
Key Highlights
- Two 2‑bedroom, 1‑bathroom units totaling 2,160 SF
- Both units delivered vacant
- Average unit size exceeds 1,000 SF
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,088
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$721,760
$721.8K
Cap Rate 7%
$515,543
$515.5K
Cap Rate 9%
$400,978
$401.0K
Market Conditions
NOI Build-Up for 2,160 SF
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.
Gross rent
$52.9K $24.48/SF
− Vacancy
−$1.3K −$0.61/SF
EGI
$51.6K $23.87/SF
− OpEx
−$15.5K −$7.16/SF
NOI
$36.1K $16.71/SF
Area
ZIP 90037
Vacancy
2.50%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$721,760
Cap Rate 7%
$515,543
Cap Rate 9%
$400,978
Alternative Uses
Best Use
Multifamily LT 5
$515.5K
$451.1K – $601.5K
NOI $36,088 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$458.2K
$401.0K – $534.6K
NOI $32,076 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$846.4K
$740.6K – $987.4K
NOI $59,246 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,333
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Includes one livable residence and a second unit requiring substantial renovation.
Where is this duplex located?
The property is located at 1017 W 46th Los Angeles, CA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom units totaling 2,160 SF; Both units delivered vacant; Average unit size exceeds 1,000 SF
