5-Unit Apartment
New
For Sale
$1,750,000
1134 W 39th, Los Angeles, CA 90037
Multifamily property with varied floor plans and three units delivered vacant.
Property Size5,726 SF
Lot Size0.23 Acres
Days on Market2
Property Features for 1134 W 39th
General Information
Standard status
Active
Size
5,726 SF
Lot size
0.23 Acres
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA, 2 x 5BR/2BA, 1 x 4BR/2BA, 1 x 3BR/1BA
Multifamily Units
5
Building Details
Building Size
5,726 SF
Year Built
1972
Stories
2
Units
5
Listing Agency:
Park Regency Realty
Listed By:
Marina Burgos · License #01818048
(818) 312-4291
Source:
Elliman
Added: Sep 19
Last Checked: Sep 20 at 8:41AM
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 Park Regency Realty
Investment Insights
Based on property information with market context.
This five-unit apartment property at 1134 W 39th in Los Angeles offers a varied residential configuration: one 2-bedroom, 1-bathroom unit, two 5-bedroom, 2-bathroom units, one 4-bedroom, 2-bathroom unit, and one 3-bedroom, 1-bathroom unit. Three units will be delivered vacant, providing flexibility for an incoming owner to establish occupancy and leasing plans. The property was built in 1972 and occupies a 9,894-square-foot lot.
The building is located in Exposition Park, approximately a 10-minute walk from the University of Southern California. Nearby destinations include the Los Angeles Memorial Coliseum, Lucas Museum of Narrative Art, Exposition Park, California Science Center, Rose Garden, and BMO Stadium. The Expo Line Metro Station provides rail access between Downtown Los Angeles and Santa Monica, while nearby freeways and public transportation support regional connectivity. WalkScore is 73, TransitScore is 68, and BikeScore is 70.
The building is located in Exposition Park, approximately a 10-minute walk from the University of Southern California. Nearby destinations include the Los Angeles Memorial Coliseum, Lucas Museum of Narrative Art, Exposition Park, California Science Center, Rose Garden, and BMO Stadium. The Expo Line Metro Station provides rail access between Downtown Los Angeles and Santa Monica, while nearby freeways and public transportation support regional connectivity. WalkScore is 73, TransitScore is 68, and BikeScore is 70.
Key Highlights
- Five‑unit apartment property with three units delivered vacant
- Unit mix includes one 2‑bedroom, two 5‑bedroom, one 4‑bedroom, and one 3‑bedroom unit
- Unit configurations range from 1‑bathroom to 2‑bathroom layouts
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
$85,030
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
4.86%
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%
$1,700,600
$1.7M
Cap Rate 7%
$1,214,714
$1.2M
Cap Rate 9%
$944,778
$944.8K
Market Conditions
NOI Build-Up for 5,726 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
$155.7K $27.19/SF
− Vacancy
−$1.1K −$0.19/SF
EGI
$154.6K $27.00/SF
− OpEx
−$69.6K −$12.15/SF
NOI
$85.0K $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%
$1,700,600
Cap Rate 7%
$1,214,714
Cap Rate 9%
$944,778
Alternative Uses
Best Use
Apartment 5plus
$1.21M
$1.06M – $1.42M
NOI $85,030 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.24M
$1.96M – $2.62M
NOI $157,056 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
5
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,192
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with varied floor plans and three units delivered vacant.
Where is this apartment building located?
The property is located at 1134 W 39th Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Five‑unit apartment property with three units delivered vacant; Unit mix includes one 2‑bedroom, two 5‑bedroom, one 4‑bedroom, and one 3‑bedroom unit; Unit configurations range from 1‑bathroom to 2‑bathroom layouts
