Renovated Triplex Income
For Sale
$999,000
Pending
1236 1234 S Arizona Ave, Los Angeles, CA 90022
Extensively renovated three-unit triplex with two vacant units and covered garage parking for each unit.
Property Size2,969 SF
Days on Market92
Property Features for 1236 1234 S Arizona Ave
General Information
Standard status
Pending
Size
2,969 SF
Total Parking Spaces
3
Property subtype
Investment
Occupancy
33%
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Building Size
2,969 SF
Year Built
1922
Stories
2
Units
3
Tenancy
Multi
Listing Agency:
Luxury Collective
(818) 668-8768
Listed By:
Brandon Melgar · License #01331605
Source:
Elliman
Added: May 10
Changed: Aug 7
Last Checked: Aug 9 at 10:22AM
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 Luxury Collective
Investment Insights
Based on property information with market context.
This extensively renovated income triplex includes three separate units. The spacious front unit offers five bedrooms and three bathrooms, with updated flooring, new windows, new kitchen cabinet work, renovated bathrooms, and fresh interior paint. The middle unit is a two-bedroom apartment and remains occupied. The back unit features a one-bedroom layout and has recently received fresh paint and updated windows and floors.
Each unit has its own covered garage space. The property is described as conveniently located near the 710 and 5 freeways, with easy access to restaurants, Citadel Outlets, colleges, and parks.
As presented, the front and back units are vacant and ready for new tenants, while the middle unit has a current tenant. Renovations include brand-new windows and floors, along with fresh paint inside the front and back units.
Each unit has its own covered garage space. The property is described as conveniently located near the 710 and 5 freeways, with easy access to restaurants, Citadel Outlets, colleges, and parks.
As presented, the front and back units are vacant and ready for new tenants, while the middle unit has a current tenant. Renovations include brand-new windows and floors, along with fresh paint inside the front and back units.
Key Highlights
- 1922‑built, extensively renovated 3‑unit triplex with front (5BR/3BA), middle (2BR), and back (1BR) units
- Two units are vacant and ready for new tenants (front and back units)
- Middle unit is currently tenant‑occupied (2BR) with recent interior updates
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
$68,085
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
6.82%
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%
$1,361,700
$1.4M
Cap Rate 7%
$972,643
$972.6K
Cap Rate 9%
$756,500
$756.5K
Market Conditions
NOI Build-Up for 2,969 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
$99.8K $33.60/SF
− Vacancy
−$2.5K −$0.84/SF
EGI
$97.3K $32.76/SF
− OpEx
−$29.2K −$9.83/SF
NOI
$68.1K $22.93/SF
Area
ZIP 90022
Vacancy
2.50%
Lease Rate
$33.60 /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%
$1,361,700
Cap Rate 7%
$972,643
Cap Rate 9%
$756,500
Alternative Uses
Best Use
Multifamily LT 5
$972.6K
$851.1K – $1.13M
NOI $68,085 @ 7.0% cap · market cap 6.82%
Second Best
Apartment 5plus
$886.7K
$775.9K – $1.03M
NOI $62,072 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,677 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
33.3%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,860
Businesses Nearby
Explore this area
Business Placement
Demographics for 90022, CA
64,517
Population
17,845
Households
3.6
Avg Household Size
34
Median Age
10%
College-Educated
56%
High-School Grad
4.4 sq mi
ZIP Area
14,663
Density / Sq Mi
$67,829
Median Household Income
$32,304
Median Earnings
$1,407
Median Rent
$603,500
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?
Triplex - Extensively renovated three-unit triplex with two vacant units and covered garage parking for each unit.
Where is this triplex located?
The property is located at 1236 1234 S Arizona Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 1922‑built, extensively renovated 3‑unit triplex with front (5BR/3BA), middle (2BR), and back (1BR) units; Two units are vacant and ready for new tenants (front and back units); Middle unit is currently tenant‑occupied (2BR) with recent interior updates
