Triplex With Development
For Sale
$775,000
223 E 74th St, Los Angeles, CA 90003
Three-unit income property with separate front bungalow and rear duplex in Los Angeles.
Property Size2,050 SF
Lot Size0.13 Acres
Price / SF$378.05
Days on Market33
Property Features for 223 E 74th St
General Information
Standard status
Active
Size
2,050 SF
Lot size
0.13 Acres
Property subtype
Residential Income
Zoning
LAR2
Additional Details
Cap Rate
6%
Multifamily Units
3
Building Details
Buildings
2
Listing Agency:
Global Platinum Properties, Inc.
(310) 666-2246
Listed By:
Armin Soleimani · License #01846872
(310) 666-2246
Source:
Exprealty
Added: Jul 10
Changed: Aug 11
Last Checked: Aug 11 at 9:58AM
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 Global Platinum Properties, Inc.
Investment Insights
Based on property information with market context.
This triplex includes 2,050 square feet across two separate structures on a 5,513 SF LAR2 lot. The front building is a detached 2BR/1BA bungalow, while the rear structure contains two additional units. The property is operating at a 6% cap rate and includes an expansive rear yard.
Located at 223 E 74th St in Los Angeles, the property carries several documented land-use and development designations, including TOC Tier 2, an AB 2097 zone, a Transit Priority Area, and an AB 2334 Very Low Vehicle Travel Area. The source information also identifies eligibility flags for SB 9, ED 1, and the Citywide Adaptive Reuse Program, along with potential for detached, non-RSO market-rate ADUs/JADUs subject to applicable approvals.
Located at 223 E 74th St in Los Angeles, the property carries several documented land-use and development designations, including TOC Tier 2, an AB 2097 zone, a Transit Priority Area, and an AB 2334 Very Low Vehicle Travel Area. The source information also identifies eligibility flags for SB 9, ED 1, and the Citywide Adaptive Reuse Program, along with potential for detached, non-RSO market-rate ADUs/JADUs subject to applicable approvals.
Key Highlights
- Three units in two structures: a detached 2BR/1BA bungalow and a rear duplex
- 2,050 square feet on a 5,513 SF LAR2 lot
- Operating at a 6% cap rate
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
$46,408
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
5.99%
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%
$928,160
$928.2K
Cap Rate 7%
$662,971
$663.0K
Cap Rate 9%
$515,644
$515.6K
Market Conditions
NOI Build-Up for 2,050 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
$67.7K $33.00/SF
− Vacancy
−$1.4K −$0.66/SF
EGI
$66.3K $32.34/SF
− OpEx
−$19.9K −$9.70/SF
NOI
$46.4K $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%
$928,160
Cap Rate 7%
$662,971
Cap Rate 9%
$515,644
Alternative Uses
Best Use
Apartment 5plus
$36.24M
$31.71M – $42.28M
NOI $2,536,986 @ 7.0% cap · market cap 327.35%
Second Best
Multifamily LT 5
$663.0K
$580.1K – $773.5K
NOI $46,408 @ 7.0% cap · market cap 5.99%
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
Location Intelligence
Trade Area within ½ mile
1,318
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 - Three-unit income property with separate front bungalow and rear duplex in Los Angeles.
Where is this triplex located?
The property is located at 223 E 74th St Los Angeles, CA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Three units in two structures: a detached 2BR/1BA bungalow and a rear duplex; 2,050 square feet on a 5,513 SF LAR2 lot; Operating at a 6% cap rate
