12-Unit Apartment
1173-1181 W 39th Place, Los Angeles, CA 90037
For Sale
Contact for pricing
All residences are leased, with rear parking serving the detached apartment units.
Property Size7,904 SF
Lot Size0.60 Acres
Price / SF$316.17
Days on Market19
Property Features for 1173-1181 W 39th Place
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Listing Agency:
Edgewater Realty Associates
Listed By:
Matt Souza · License CA #01893613
Source:
Crexi
Added: Oct 22
Changed: Nov 8
Last Checked: Nov 8 at 5:18PM
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 Edgewater Realty Associates
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 1173-1181 W 39th Place in Los Angeles, this apartment property contains 12 detached residences totaling approximately 7,904 square feet. The unit mix comprises eight two-bedroom apartments and four one-bedroom apartments, providing a range of residential configurations across the property.
The site spans approximately 25,986 square feet across two parcels. The buildings date to 1921 and 1926, and parking is located behind the residences. The property is fully leased.
The site spans approximately 25,986 square feet across two parcels. The buildings date to 1921 and 1926, and parking is located behind the residences. The property is fully leased.
Key Highlights
- 12 detached apartments: eight two‑bedroom units and four one‑bedroom units
- Approximately 7,904 square feet of building area
- Approximately 25,986 square feet of land across two parcels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$117,373
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,347,460
$2.3M
Cap Rate 7%
$1,676,757
$1.7M
Cap Rate 9%
$1,304,144
$1.3M
Market Conditions
NOI Build-Up for 7,904 SF
Gross rent
$214.9K $27.19/SF
− Vacancy
−$1.5K −$0.19/SF
EGI
$213.4K $27.00/SF
− OpEx
−$96.0K −$12.15/SF
NOI
$117.4K $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%
$2,347,460
Cap Rate 7%
$1,676,757
Cap Rate 9%
$1,304,144
Alternative Uses
Best Use
Apartment 5plus
$1.68M
$1.47M – $1.96M
NOI $117,373 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.10M
$2.71M – $3.61M
NOI $216,795 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
12
Residential units
100%
Occupancy
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
$632,600
Median Home Value
Market
Average Price Trend$/SF for Apartment buildings in Los Angeles, CA
Properties on Market for Apartment buildings in Los Angeles
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - All residences are leased, with rear parking serving the detached apartment units.
Where is this apartment building located?
The property is located at 1173-1181 W 39th Place Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: 12 detached apartments: eight two‑bedroom units and four one‑bedroom units; Approximately 7,904 square feet of building area; Approximately 25,986 square feet of land across two parcels
