4-Unit Multifamily
For Sale
$910,000
209 E 62nd, Los Angeles, CA 90003
Multifamily property with separate gas and water metering for each residence.
Property Size3,068 SF
Days on Market17
Property Features for 209 E 62nd
General Information
Standard status
Active
Size
3,068 SF
Property subtype
MULTI_FAMILY
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Building Details
Building Size
3,068 SF
Year Built
1962
Listing Agency:
Home Saver Realty
Listed By:
Naisa Santeyan · License #02028994
Source:
Milsteinestates
Added: Aug 17
Changed: Aug 30
Last Checked: Aug 31 at 9:34PM
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 Home Saver Realty
Investment Insights
Based on property information with market context.
This Los Angeles multifamily property contains four individual residential units, each configured with two bedrooms and one bathroom. The arrangement provides a total of eight bedrooms and four bathrooms across the building, with a straightforward unit mix for ownership and management. Constructed in 1962, the property offers an established residential configuration rather than a single dwelling layout.
Gas and water are separately metered for each unit, allowing utility responsibility to be tracked by residence. The property is located at 209 E 62nd in Los Angeles, California, within ZIP Code 90003. Its four-unit format and independently metered utilities provide clear physical and operational characteristics for evaluating the asset.
Gas and water are separately metered for each unit, allowing utility responsibility to be tracked by residence. The property is located at 209 E 62nd in Los Angeles, California, within ZIP Code 90003. Its four-unit format and independently metered utilities provide clear physical and operational characteristics for evaluating the asset.
Key Highlights
- Four separate residential units in one multifamily property
- Each unit includes 2 bedrooms and 1 bathroom
- 8 total bedrooms and 4 total bathrooms
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
$69,453
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
7.63%
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%
$1,389,060
$1.4M
Cap Rate 7%
$992,186
$992.2K
Cap Rate 9%
$771,700
$771.7K
Market Conditions
NOI Build-Up for 3,068 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
$101.2K $33.00/SF
− Vacancy
−$2.0K −$0.66/SF
EGI
$99.2K $32.34/SF
− OpEx
−$29.8K −$9.70/SF
NOI
$69.5K $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%
$1,389,060
Cap Rate 7%
$992,186
Cap Rate 9%
$771,700
Alternative Uses
Best Use
Apartment 5plus
$54.24M
$47.46M – $63.28M
NOI $3,796,816 @ 7.0% cap · market cap 417.23%
Second Best
Multifamily LT 5
$992.2K
$868.2K – $1.16M
NOI $69,453 @ 7.0% cap · market cap 7.63%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,537
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?
Quadplex - Multifamily property with separate gas and water metering for each residence.
Where is this quadplex located?
The property is located at 209 E 62nd Los Angeles, CA.
What is the asking price?
The asking price for this property is $910,000.
What are key features of this property?
This property features: Four separate residential units in one multifamily property; Each unit includes 2 bedrooms and 1 bathroom; 8 total bedrooms and 4 total bathrooms
