Los Angeles Duplex Investment
For Sale
$650,000
244 - 246 W 66th Street, Los Angeles, CA 90003
Income-producing duplex near USC, LAFC stadium, and LA Live.
Property Size1,860 SF
Price / SF$349.46
Days on Market707
Property Features for 244 - 246 W 66th Street
General Information
Standard status
Active
Size
1,860 SF
Property subtype
Multi Family
Building Details
Year Built
1924
Listing Agency:
EXCELLENCE RE REAL ESTATE
(562) 948-4553
Listed By:
PABLO RAMIREZ · License #02015087
(323) 687-5478
Source:
Exitrealty
Added: Sep 26, 2024
Changed: Sep 2
Last Checked: Sep 1 at 5:42PM
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 EXCELLENCE RE REAL ESTATE
Investment Insights
Based on property information with market context.
This income-producing duplex, located at 244 and 246 W 66th St. in the heart of Los Angeles, presents a significant investment opportunity. The property is situated close to amenities and offers potential for substantial returns. Its location provides convenient access to USC, BMO Stadium, the LA Coliseum, and LA Live, including Crypto.com Arena. SoFi Stadium, YouTube Theater, and the Intuit Dome are also nearby. The front unit features 5 beds and 2 baths, while the rear unit includes 1 bed, 1 bath, plus a bonus studio. The property has a large lot with alley access in the rear and side, offering potential for building new units. It includes solar panels and two driveways, one for each unit. The property is being sold as is.
Key Highlights
- Income‑producing duplex in central Los Angeles, great for rental income or owner‑occupancy.
- Large lot with alley and side access, build additional units.
- Features solar panels and two driveways, one for each unit.
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
$42,107
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
6.48%
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%
$842,140
$842.1K
Cap Rate 7%
$601,529
$601.5K
Cap Rate 9%
$467,856
$467.9K
Market Conditions
NOI Build-Up for 1,860 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
$61.4K $33.00/SF
− Vacancy
−$1.2K −$0.66/SF
EGI
$60.2K $32.34/SF
− OpEx
−$18.0K −$9.70/SF
NOI
$42.1K $22.64/SF
Area
ZIP 90003
Vacancy
2.00%
Lease Rate
$33.00 /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%
$842,140
Cap Rate 7%
$601,529
Cap Rate 9%
$467,856
Alternative Uses
Best Use
Apartment 5plus
$32.88M
$28.77M – $38.36M
NOI $2,301,851 @ 7.0% cap · market cap 354.13%
Second Best
Multifamily LT 5
$601.5K
$526.3K – $701.8K
NOI $42,107 @ 7.0% cap · market cap 6.48%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,543
Businesses Nearby
Explore this area
Business Placement
Demographics for 90003, CA
72,764
Population
18,349
Households
4
Avg Household Size
30
Median Age
7%
College-Educated
53%
High-School Grad
3.6 sq mi
ZIP Area
20,212
Density / Sq Mi
$54,781
Median Household Income
$30,132
Median Earnings
$1,515
Median Rent
$547,600
Median Home Value
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?
Duplex - Income-producing duplex near USC, LAFC stadium, and LA Live.
Where is this duplex located?
The property is located at 244 - 246 W 66th Street Los Angeles, CA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Income‑producing duplex in central Los Angeles, great for rental income or owner‑occupancy.; Large lot with alley and side access, build additional units.; Features solar panels and two driveways, one for each unit.
