Individually Metered 4-Plex
For Sale
$1,799,000
11904 Painter, Whittier, CA 90605
Four individual homes on one lot, each individually metered with updated interiors and washer/dryer hookups.
Property Size3,097 SF
Days on Market135
Property Features for 11904 Painter
General Information
Standard status
Active
Size
3,097 SF
Property subtype
Investment
Building Details
Building Size
3,097 SF
Year Built
1955
Stories
1
Units
4
Listed By:
Cherie Pondoff · License #01165416
(951) 333-4663
Source:
Elliman
Added: Apr 24
Changed: Sep 3
Last Checked: Sep 5 at 12:01PM
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 Cherie Pondoff
Investment Insights
Based on property information with market context.
This four-unit property offers four separate homes, each featuring 2 bedrooms and 1 bath. Each unit includes a private backyard and washer/dryer hookups. Three of the homes have a 1-car garage. The property is described as well maintained with upgrades across all units, including newer kitchens and bathrooms, windows, flooring, wall heaters, electrical panels, and newer garage doors. Units are individually metered for utilities, and tenants are responsible for all utilities, including water, trash, gas, and electricity.
The property sits on an almost 3/4-acre lot. Public remarks indicate the units are currently occupied, with no vacant units expected at delivery, and that three tenants are long term.
According to the provided information, over $160,000 in improvements have been made in the last seven years. Two tenants are identified as Section 8.
The property sits on an almost 3/4-acre lot. Public remarks indicate the units are currently occupied, with no vacant units expected at delivery, and that three tenants are long term.
According to the provided information, over $160,000 in improvements have been made in the last seven years. Two tenants are identified as Section 8.
Key Highlights
- 4‑plex with four individual 2BD/1BA homes on an almost 3/4‑acre lot (year built 1955).
- Total gross rents are $10,485/month with $125,820 gross income and $99,744 NOI; starting cap rate is approx. 5.10%.
- Over $160,000 in improvements made in the last 7 years, including newer kitchens, bathrooms, windows, flooring, wall heaters, and electrical panels.
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
$54,085
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
3.01%
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%
$1,081,700
$1.1M
Cap Rate 7%
$772,643
$772.6K
Cap Rate 9%
$600,944
$600.9K
Market Conditions
NOI Build-Up for 3,097 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
$83.6K $27.00/SF
− Vacancy
−$6.4K −$2.05/SF
EGI
$77.3K $24.95/SF
− OpEx
−$23.2K −$7.48/SF
NOI
$54.1K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /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%
$1,081,700
Cap Rate 7%
$772,643
Cap Rate 9%
$600,944
Alternative Uses
Best Use
Multifamily LT 5
$772.6K
$676.1K – $901.4K
NOI $54,085 @ 7.0% cap · market cap 3.01%
Second Best
Apartment 5plus
$711.9K
$622.9K – $830.6K
NOI $49,833 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $116,069 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
912
Businesses Nearby
Explore this area
Business Placement
Demographics for 90605, CA
40,189
Population
11,377
Households
3.5
Avg Household Size
37
Median Age
23%
College-Educated
83%
High-School Grad
6.4 sq mi
ZIP Area
6,280
Density / Sq Mi
$100,825
Median Household Income
$46,502
Median Earnings
$1,861
Median Rent
$662,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four individual homes on one lot, each individually metered with updated interiors and washer/dryer hookups.
Where is this quadplex located?
The property is located at 11904 Painter Whittier, CA.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: 4‑plex with four individual 2BD/1BA homes on an almost 3/4‑acre lot (year built 1955).; Total gross rents are $10,485/month with $125,820 gross income and $99,744 NOI; starting cap rate is approx. 5.10%.; Over $160,000 in improvements made in the last 7 years, including newer kitchens, bathrooms, windows, flooring, wall heaters, and electrical panels.
