Two-Unit Residential Income
For Sale
$750,000
7908 Towne Ave, Los Angeles, CA 90003
Two individual units on one lot, sold as-is with a vacant fixer and tenant-owned appliances staying in place.
Property Size1,826 SF
Days on Market953
Property Features for 7908 Towne Ave
General Information
Standard status
Active
Size
1,826 SF
Property subtype
MULTI_FAMILY
Additional Details
Multifamily Units
2
Building Details
Building Size
1,826 SF
Year Built
1931
Tenancy
Multi
Listing Agency:
Crystal Lee, Broker
(323) 252-6943
Listed By:
Crystal Lee · License #01071948
Source:
Milsteinestates
Added: Jan 6, 2024
Changed: Aug 16
Last Checked: Aug 16 at 2:58PM
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 Crystal Lee, Broker
Investment Insights
Based on property information with market context.
The property consists of two individual house units on the same lot. One unit is a smaller house located on the corner of 79th and Towne and is described as a fixer that is vacant and needs repairs. The title report states 4 bedrooms and 2 bathrooms, while the property presently shows a total of 5 bedrooms and 3 bathrooms. The entire property is being sold as-is, with no further warranties or guarantees related to city/county repair requirements, property square footages, or other property prospects.
The listing notes there are no lockboxes for entry. Viewing is by appointment, and the tenant(s) are to remain as residing tenant(s). The tenant(s) own all of their appliances. The sellers state that no eviction will be done by the sellers, and buyers and their brokers/agents are expected to complete due diligence on all details before making an offer.
This configuration may fit buyers seeking a two-unit residential income property where one unit is available for repair while the other remains occupied. Because the property is sold strictly as-is with repair responsibility shifted to the buyer, prospective purchasers should plan for inspection and verification of the unit count, bath/bedroom configuration, and overall condition as part of their underwriting and decision-making process.
The listing notes there are no lockboxes for entry. Viewing is by appointment, and the tenant(s) are to remain as residing tenant(s). The tenant(s) own all of their appliances. The sellers state that no eviction will be done by the sellers, and buyers and their brokers/agents are expected to complete due diligence on all details before making an offer.
This configuration may fit buyers seeking a two-unit residential income property where one unit is available for repair while the other remains occupied. Because the property is sold strictly as-is with repair responsibility shifted to the buyer, prospective purchasers should plan for inspection and verification of the unit count, bath/bedroom configuration, and overall condition as part of their underwriting and decision-making process.
Key Highlights
- Two individual house units on one lot (year built 1931).
- Smaller house on the corner of 79th & Towne is vacant and described as a fixer needing repairs.
- Property is sold as‑is with no further warranties or guarantees, including for city/county repair requirements and square footages.
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
$41,337
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
5.51%
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%
$826,740
$826.7K
Cap Rate 7%
$590,529
$590.5K
Cap Rate 9%
$459,300
$459.3K
Market Conditions
NOI Build-Up for 1,826 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
$60.3K $33.00/SF
− Vacancy
−$1.2K −$0.66/SF
EGI
$59.1K $32.34/SF
− OpEx
−$17.7K −$9.70/SF
NOI
$41.3K $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%
$826,740
Cap Rate 7%
$590,529
Cap Rate 9%
$459,300
Alternative Uses
Best Use
Apartment 5plus
$32.28M
$28.25M – $37.66M
NOI $2,259,774 @ 7.0% cap · market cap 301.30%
Second Best
Multifamily LT 5
$590.5K
$516.7K – $689.0K
NOI $41,337 @ 7.0% cap · market cap 5.51%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,473
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two individual units on one lot, sold as-is with a vacant fixer and tenant-owned appliances staying in place.
Where is this duplex located?
The property is located at 7908 Towne Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two individual house units on one lot (year built 1931).; Smaller house on the corner of 79th & Towne is vacant and described as a fixer needing repairs.; Property is sold as‑is with no further warranties or guarantees, including for city/county repair requirements and square footages.
