LAR3 Triplex
For Sale
$799,990
224 W 84th St, Los Angeles, CA 90003
Residential Income, A-Frame, Los Angeles, CA
Property Size1,933 SF
Lot Size0.12 Acres
Price / SF$413.86
Days on Market41
Property Features for 224 W 84th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LAR3
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 3
Parking
4
Parking features
Driveway
Lot features
Fenced Yard
Elementary school district
Los Angeles Unified
Middle school district
Los Angeles Unified
High school district
Los Angeles Unified
Directions
East of Broadway on 84th Street
Subdivision
Metropolitan South
Standard status
Active
APN
6040-002-024
Size
1,933 SF
Lot size
0.12 Acres
Building Details
Year built
1922
Floors in Building
1
Number of units
3
Flooring type
Mixed
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
eXp Realty of California Inc
(888) 584-9427
Listed By:
Kory Jackson · License #01315324
(310) 717-3720
Added: Jul 14
Changed: Aug 22
Last Checked: Aug 23 at 11:06AM
MLS# 26859993
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Los Angeles multifamily property was built in 1922 and contains approximately 1,933 square feet of improvements on a 5,401-square-foot lot. The property includes residential units with one- and two-bedroom layouts, one bathroom per unit, mixed flooring, shingle and composition roofing, and driveway parking. The improvements provide a defined multifamily footprint within an established urban setting.
The property is located at 224 W 84th St in Los Angeles, within the 90003 ZIP code. Its LAR3 zoning designation supports multifamily land use, while nearby retail corridors along Broadway, Vermont, and Florence provide access to grocery stores, restaurants, and everyday services. Neighborhood parks, recreation centers, libraries, and major north-south and east-west arterials are also identified in the surrounding context.
The property is located at 224 W 84th St in Los Angeles, within the 90003 ZIP code. Its LAR3 zoning designation supports multifamily land use, while nearby retail corridors along Broadway, Vermont, and Florence provide access to grocery stores, restaurants, and everyday services. Neighborhood parks, recreation centers, libraries, and major north-south and east-west arterials are also identified in the surrounding context.
Key Highlights
- Approximately 1,933 square feet of improvements
- 5,401‑square‑foot lot, or 0.124 acres
- Built in 1922
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
$43,759
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
5.47%
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%
$875,180
$875.2K
Cap Rate 7%
$625,129
$625.1K
Cap Rate 9%
$486,211
$486.2K
Market Conditions
NOI Build-Up for 1,933 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
$63.8K $33.00/SF
− Vacancy
−$1.3K −$0.66/SF
EGI
$62.5K $32.34/SF
− OpEx
−$18.8K −$9.70/SF
NOI
$43.8K $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%
$875,180
Cap Rate 7%
$625,129
Cap Rate 9%
$486,211
Alternative Uses
Best Use
Apartment 5plus
$34.17M
$29.90M – $39.87M
NOI $2,392,192 @ 7.0% cap · market cap 299.03%
Second Best
Multifamily LT 5
$625.1K
$547.0K – $729.3K
NOI $43,759 @ 7.0% cap · market cap 5.47%
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
1,381
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Established multifamily improvements with driveway parking and a flexible LAR3 zoning designation.
Where is this triplex located?
The property is located at 224 W 84th St Los Angeles, CA.
What is the asking price?
The asking price for this property is $799,990.
What are key features of this property?
This property features: Approximately 1,933 square feet of improvements; 5,401‑square‑foot lot, or 0.124 acres; Built in 1922
