Vermont Square Triplex with
For Sale
$690,000
1361 W Vernon Avenue Los, Los Angeles, CA 90037
Multi-unit property in central Los Angeles with redevelopment potential.
Property Size1,892 SF
Lot Size0.15 Acres
Days on Market184
Property Features for 1361 W Vernon Avenue Los
General Information
Standard status
Active
Size
1,892 SF
Lot size
0.15 Acres
Property subtype
Triplex
Amenities
Combination
See Remarks
Building Details
Building Size
1,892 SF
Year Built
1923
Stories
1
Listing Agency:
KELLER WILLIAMS LARCHMONT
(562) 843-8748
Listed By:
Josephine San Lucas · License #DRE
(562) 843-8748
Source:
Kw
Added: Feb 6
Changed: Aug 8
Last Checked: Aug 8 at 4:44AM
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 KELLER WILLIAMS LARCHMONT
Investment Insights
Based on property information with market context.
This property features three separate units located in Vermont Square, with two units delivered vacant. The property presents immediate income potential with upside for rent growth or future redevelopment, suitable for owner-users or investors. The zoning allows for commercial, residential, or mixed-use development. The location is residential, with a school across the street, and alley access provides up to 6 parking spaces or a possible future ADU. The property includes a 2-bedroom, 1-bath unit currently collecting $1280 with a projected rent of $2500, a 1-bedroom, 1-bath unit collecting $1188, and a large, vacant, ready-to-move-in 1-bedroom, 1-bath unit that can rent for $2000. Recent improvements include new roofs, copper plumbing, and tankless water heaters. A rebuild letter is available. The property is located minutes from USC, Exposition Park, BMO Stadium, the LA Memorial Coliseum, and Downtown LA.
Key Highlights
- Three separate units with two delivered vacant, offering immediate income potential and flexibility.
- RD‑1.5 zoning allows for commercial, residential, or mixed‑use development, providing future redevelopment opportunities.
- Recent improvements include new roofs, copper plumbing, and tankless water heaters, reducing future capital expenses.
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
$31,611
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
4.58%
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%
$632,220
$632.2K
Cap Rate 7%
$451,586
$451.6K
Cap Rate 9%
$351,233
$351.2K
Market Conditions
NOI Build-Up for 1,892 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
$46.3K $24.48/SF
− Vacancy
−$1.2K −$0.61/SF
EGI
$45.2K $23.87/SF
− OpEx
−$13.5K −$7.16/SF
NOI
$31.6K $16.71/SF
Area
ZIP 90037
Vacancy
2.50%
Lease Rate
$24.48 /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%
$632,220
Cap Rate 7%
$451,586
Cap Rate 9%
$351,233
Alternative Uses
Best Use
Multifamily LT 5
$451.6K
$395.1K – $526.9K
NOI $31,611 @ 7.0% cap · market cap 4.58%
Second Best
Apartment 5plus
$401.4K
$351.2K – $468.3K
NOI $28,096 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$741.4K
$648.7K – $864.9K
NOI $51,895 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,709
Businesses Nearby
Explore this area
Business Placement
Demographics for 90037, CA
63,706
Population
18,709
Households
3.4
Avg Household Size
33
Median Age
9%
College-Educated
54%
High-School Grad
2.9 sq mi
ZIP Area
21,968
Density / Sq Mi
$56,417
Median Household Income
$29,857
Median Earnings
$1,438
Median Rent
$632,600
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?
Triplex - Multi-unit property in central Los Angeles with redevelopment potential.
Where is this triplex located?
The property is located at 1361 W Vernon Avenue Los Los Angeles, CA.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Three separate units with **two delivered vacant**, offering immediate income potential and flexibility.; RD‑1.5 zoning allows for commercial, residential, or mixed‑use development, providing future redevelopment opportunities.; Recent improvements include **new roofs, copper plumbing, and tankless water heaters**, reducing future capital expenses.
