Five-Unit Apartment
New
For Sale
$1,700,000
1121 W Martin Luther King Jr, Los Angeles, CA 90037
Two-bedroom apartments with one bathroom per unit and convenient freeway access.
Property Size5,914 SF
Days on Market4
Property Features for 1121 W Martin Luther King Jr
General Information
Standard status
Active
Size
5,914 SF
Property subtype
Apartment
Units
Unit Mix
5 x 2BR/1BA
Multifamily Units
5
Additional Details
Highway Access
Yes
Building Details
Building Size
5,914 SF
Year Built
1923
Buildings
2
Listing Agency:
Prime Fidelity Capital, Inc.
Listed By:
Eugena Odeyale · License #01854256
Source:
Truthrealty
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 14 at 10:18AM
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 Prime Fidelity Capital, Inc.
Investment Insights
Based on property information with market context.
This apartment property was built in 1923 and offers five units, each configured with two bedrooms and one bathroom. The sale includes the buildings at 1121 and 1127 W Martin Luther King Jr, providing a combined offering in Los Angeles.
The property is positioned near USC stadium and campus, with freeway access nearby. Exposition Park, BMO Stadium, the Lucas Museum, Crypto.com Arena, and Los Angeles Coliseum are also within the surrounding area. Crypto.com Arena is identified as the home of the Los Angeles Lakers, while Los Angeles Coliseum is associated with the 2028 Olympics.
The property is positioned near USC stadium and campus, with freeway access nearby. Exposition Park, BMO Stadium, the Lucas Museum, Crypto.com Arena, and Los Angeles Coliseum are also within the surrounding area. Crypto.com Arena is identified as the home of the Los Angeles Lakers, while Los Angeles Coliseum is associated with the 2028 Olympics.
Key Highlights
- Five apartment units, each with 2 bedrooms and 1 bathroom
- Sale includes both 1121 and 1127 W Martin Luther King Jr
- Built in 1923
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
$87,822
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
5.17%
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%
$1,756,440
$1.8M
Cap Rate 7%
$1,254,600
$1.3M
Cap Rate 9%
$975,800
$975.8K
Market Conditions
NOI Build-Up for 5,914 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
$160.8K $27.19/SF
− Vacancy
−$1.1K −$0.19/SF
EGI
$159.7K $27.00/SF
− OpEx
−$71.9K −$12.15/SF
NOI
$87.8K $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 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%
$1,756,440
Cap Rate 7%
$1,254,600
Cap Rate 9%
$975,800
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.10M – $1.46M
NOI $87,822 @ 7.0% cap · market cap 5.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.32M
$2.03M – $2.70M
NOI $162,212 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,326
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-bedroom apartments with one bathroom per unit and convenient freeway access.
Where is this apartment building located?
The property is located at 1121 W Martin Luther King Jr Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Five apartment units, each with 2 bedrooms and 1 bathroom; Sale includes both 1121 and 1127 W Martin Luther King Jr; Built in 1923
