Three-Unit Income
For Sale
$779,000
209 W 89th, Los Angeles, CA 90003
Front and rear parking areas provide separate private access points for tenants.
Property Size1,674 SF
Days on Market115
Property Features for 209 W 89th
General Information
Standard status
Active
Size
1,674 SF
Property subtype
Investment
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Building Size
1,674 SF
Year Built
1920
Units
3
Listing Agency:
Century 21 Realty Masters Beverly
(323) 403-8896
Listed By:
Miguel Valencia · License #02005003
(323) 403-8896
Source:
Elliman
Added: May 8
Changed: Aug 29
Last Checked: May 10 at 6:06AM
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 Century 21 Realty Masters Beverly
Investment Insights
Based on property information with market context.
This triplex includes three residential units and established tenancy, with rent roll and payment receipts available for review. Parking is provided at both the front and rear of the property, and tenants reach those areas through separate private entry points.
The property is located at 209 W 89th in Los Angeles, with freeway access nearby and proximity to downtown Los Angeles, major event centers, shopping, and employment hubs. Its three-unit configuration supports both owner-occupant and investment use, while the documented rent roll and receipts provide operating information for evaluation.
The property is located at 209 W 89th in Los Angeles, with freeway access nearby and proximity to downtown Los Angeles, major event centers, shopping, and employment hubs. Its three-unit configuration supports both owner-occupant and investment use, while the documented rent roll and receipts provide operating information for evaluation.
Key Highlights
- Three‑unit residential income property
- Front and rear parking access
- Separate private entry points for tenant parking
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
$37,896
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
4.86%
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%
$757,920
$757.9K
Cap Rate 7%
$541,371
$541.4K
Cap Rate 9%
$421,067
$421.1K
Market Conditions
NOI Build-Up for 1,674 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
$55.2K $33.00/SF
− Vacancy
−$1.1K −$0.66/SF
EGI
$54.1K $32.34/SF
− OpEx
−$16.2K −$9.70/SF
NOI
$37.9K $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%
$757,920
Cap Rate 7%
$541,371
Cap Rate 9%
$421,067
Alternative Uses
Best Use
Apartment 5plus
$29.60M
$25.90M – $34.53M
NOI $2,071,665 @ 7.0% cap · market cap 265.94%
Second Best
Multifamily LT 5
$541.4K
$473.7K – $631.6K
NOI $37,896 @ 7.0% cap · market cap 4.86%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,238
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?
Triplex - Front and rear parking areas provide separate private access points for tenants.
Where is this triplex located?
The property is located at 209 W 89th Los Angeles, CA.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: Three‑unit residential income property; Front and rear parking access; Separate private entry points for tenant parking
