Five-Unit Apartment
For Sale
$750,000
1111 W 47th St, Los Angeles, CA 90037
Three structures include a detached cottage, four garages, and a mix of one- and two-bedroom residences.
Property Size2,863 SF
Lot Size0.17 Acres
Days on Market86
Property Features for 1111 W 47th St
General Information
Standard status
Active
Size
2,863 SF
Net Rentable
2,863 SF
Total Parking Spaces
4
Lot size
0.17 Acres
Property subtype
Multifamily
Property Condition
Severity
Repairs Needed
Evidence
immediate opportunity to renovate
Units
Unit Mix
3 x 1BR/1BA, 2 x 2BR/1BA
Multifamily Units
5
Additional Details
Cap Rate
4.95%
Amenities
Opportunity to Acquire Below Replacement Cost
Approximately 68% Rental Upside
Detached 1Bed/1Bath Cottage Delivered Vacant at Close of Escrow
Existing (4) 1-Car Garages Currently Used for Storage (No Alley Access)
Potential ADU Conversion (Buyer to Verify)
Each Unit Features Its Own Individual Water Heater
Building Details
Building Size
2,863 SF
Year Built
1927
Buildings
3
Units
5
Listing Agency:
Encino Office
Listed By:
Sev Keshishian · License #License(s): CA: 01887505
(818) 212-2694
Source:
Marcusmillichap
Added: Jul 23
Changed: Oct 6
Last Checked: Oct 16 at 5:47AM
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 Encino Office
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Investment Insights
Based on property information with market context.
Built in 1927, this five-unit apartment property includes three separate structures with approximately 2,863 square feet of rentable space on a 7,387-square-foot lot. The unit mix consists of three one-bedroom units and two two-bedroom, one-bath units. One detached cottage is expected to be delivered vacant, creating an opportunity for renovation and subsequent leasing.
The property also contains four single-car garages currently used for storage. The existing garage layout may offer potential for Accessory Dwelling Unit conversion, subject to buyer verification. Located at 1111 W 47th St, the property is three blocks south of W. Vernon Ave. and two blocks west of S. Vermont Ave., with access to transportation corridors, employment centers, schools, and neighborhood amenities throughout Los Angeles.
The property also contains four single-car garages currently used for storage. The existing garage layout may offer potential for Accessory Dwelling Unit conversion, subject to buyer verification. Located at 1111 W 47th St, the property is three blocks south of W. Vernon Ave. and two blocks west of S. Vermont Ave., with access to transportation corridors, employment centers, schools, and neighborhood amenities throughout Los Angeles.
Key Highlights
- Five‑unit multifamily property built in 1927
- Approximately 2,863 square feet of rentable space on a 7,387‑square‑foot lot
- Unit mix includes (3) 1bd/1bd units and (2) 2bd/1ba units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,515
Cap Rate
5.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$850,300
$850.3K
Cap Rate 7%
$607,357
$607.4K
Cap Rate 9%
$472,389
$472.4K
Market Conditions
NOI Build-Up for 2,863 SF
Gross rent
$77.8K $27.19/SF
− Vacancy
−$545 −$0.19/SF
EGI
$77.3K $27.00/SF
− OpEx
−$34.8K −$12.15/SF
NOI
$42.5K $14.85/SF
Area
ZIP 90037
Vacancy
0.70%
Lease Rate
$27.19 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$850,300
Cap Rate 7%
$607,357
Cap Rate 9%
$472,389
Alternative Uses
Best Use
Apartment 5plus
$607.4K
$531.4K – $708.6K
NOI $42,515 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$981.6K – $1.31M
NOI $78,528 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,277
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
Frequently Asked Questions
What type of property is this?
Apartment building - Three structures include a detached cottage, four garages, and a mix of one- and two-bedroom residences.
Where is this apartment building located?
The property is located at 1111 W 47th St Los Angeles, CA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Five‑unit multifamily property built in 1927; Approximately 2,863 square feet of rentable space on a 7,387‑square‑foot lot; Unit mix includes (3) 1bd/1bd units and (2) 2bd/1ba units
