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    Renovated Multifamily Investment Property Title is generated by Realmo AI

    11565 Iowa Ave, Los Angeles, CA 90025

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    For Sale
    $1,735,000

    Three-unit property with ADU in desirable Sawtelle neighborhood.

    Type:Multifamily
    Property size:
    2,192 SF
    Price / SF:
    $791/SF
    Added:
    Apr 3, 2026
    Days on Market:
    65
    Last Refresh:
    Apr 3 at 5:02 am

    Property Features for 11565 Iowa Ave

    General Information

    Standard status
    Active
    Size
    2,192 SF
    Property subtype
    Multifamily

    We can help!

    Listing Contact
    Glen Scher

    Listing agent Glen Scher License #CA: 01962976

    Listing office Encino Office

    Listing date Apr 3, 2026

    Source Marcusmillichap

    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 Encino Office

    HighLights

    • Renovated three‑unit multifamily property with a permitted ADU in the desirable Sawtelle neighborhood of West LA.
    • Turnkey condition with modern finishes, in‑unit washer/dryers, and central air conditioning in all units.
    • Fully occupied and stabilized property generating $121,140 annually in scheduled rents.
    • Prime location steps from Sawtelle Japantown and moments from Santa Monica.
    • Garage‑to‑ADU conversion completed under permit with Certificate of Occupancy issued April 2022.
    • Desirable all two‑bedroom unit mix in a strong rental market with high renter occupancy and median household income.

    Overview

    Located in West LA's Sawtelle neighborhood, this renovated three-unit multifamily property presents a turnkey investment opportunity. The property includes a fully permitted ADU. Situated near the Sawtelle Japantown dining district and Santa Monica, it appeals to investors seeking a stabilized asset and owner-users looking to generate rental income. Originally constructed in 1928, the property was comprehensively renovated in 2022, including a garage-to-ADU conversion completed under permit with Certificate of Occupancy issued in April 2022. The property totals approximately 2,192 rentable square feet across three two-bedroom units, each featuring modern finishes, in-unit washer/dryer, and central air conditioning. The garage conversion to ADU means the property offers no on-site parking, though street parking is readily available. The property is fully occupied and stabilized, providing immediate cash flow. The all two-bedroom unit mix represents a desirable configuration for the West LA rental market, where demographics support consistent tenant demand and rental rate stability.
    Location Intelligence

    Current Use by Public Records

    FLO Charging Station Electric Vehicle Charging Station

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.45178
    Latitude
    34.04288

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    FAQs

    What type of property is this?
    Triplex - Three-unit property with ADU in desirable Sawtelle neighborhood.
    Where is this triplex located?
    The property is located at 11565 Iowa Ave Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $1,735,000.
    What are key features of this property?
    This property features: Renovated three‑unit multifamily property with a permitted ADU in the desirable Sawtelle neighborhood of West LA.; Turnkey condition with modern finishes, in‑unit washer/dryers, and central air conditioning in all units.; Fully occupied and stabilized property generating $121,140 annually in scheduled rents.
    (818) 212-2808
    We can help!
    Listing Contact
    Glen Scher
    Real Estate License ID: CA: 01962976
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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