4-Unit Craftsman
New
For Sale
$1,049,999
146 W Vernon, Los Angeles, CA 90037
A vacant residence offers flexibility for personal occupancy or placement with a new tenant.
Property Size3,972 SF
Days on Market2
Property Features for 146 W Vernon
General Information
Standard status
Active
Size
3,972 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
washer and dryer hookups
Building Details
Building Size
3,972 SF
Year Built
1914
Stories
2
Units
4
Construction
Craftsman-style
Listing Agency:
Lotus Group Real Estate
Listed By:
William Aquino · License #02035126
(424) 240-4689
Source:
Elliman
Added: Oct 1
Changed: Oct 2
Last Checked: Oct 2 at 2:16AM
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 Lotus Group Real Estate
Investment Insights
Based on property information with market context.
Built in 1914, this Craftsman-style quadplex contains four residences, each configured with two bedrooms and one bathroom. Washer and dryer hookups are provided in every unit. Three residences are occupied, while the fourth is vacant; the property is offered in as-is condition. The open unit can be used by an owner or prepared for a new tenancy.
The property is near USC and Downtown Los Angeles, with access to the 110 Freeway and Slauson and Western Avenues. Public transportation, schools, hospitals, shopping, and daily services are also nearby. Walk Score is 85, Bike Score is 82, and Transit Score is 66.
The property is near USC and Downtown Los Angeles, with access to the 110 Freeway and Slauson and Western Avenues. Public transportation, schools, hospitals, shopping, and daily services are also nearby. Walk Score is 85, Bike Score is 82, and Transit Score is 66.
Key Highlights
- Four‑unit Craftsman‑style property built in 1914
- Each residence has 2 bedrooms, 1 bathroom, and washer and dryer hookups
- Three units are tenant occupied; one unit is vacant
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
$66,363
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
6.32%
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%
$1,327,260
$1.3M
Cap Rate 7%
$948,043
$948.0K
Cap Rate 9%
$737,367
$737.4K
Market Conditions
NOI Build-Up for 3,972 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
$97.2K $24.48/SF
− Vacancy
−$2.4K −$0.61/SF
EGI
$94.8K $23.87/SF
− OpEx
−$28.4K −$7.16/SF
NOI
$66.4K $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%
$1,327,260
Cap Rate 7%
$948,043
Cap Rate 9%
$737,367
Alternative Uses
Best Use
Multifamily LT 5
$948.0K
$829.5K – $1.11M
NOI $66,363 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$842.6K
$737.3K – $983.1K
NOI $58,983 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $108,946 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,548
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - A vacant residence offers flexibility for personal occupancy or placement with a new tenant.
Where is this quadplex located?
The property is located at 146 W Vernon Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,049,999.
What are key features of this property?
This property features: Four‑unit Craftsman‑style property built in 1914; Each residence has 2 bedrooms, 1 bathroom, and washer and dryer hookups; Three units are tenant occupied; one unit is vacant
