Newly Built
For Sale
$1,679,000
236 W 84th, Los Angeles, CA 90003
Newly built 2024 triplex with a three-unit layout, fully leased, and separate utility metering paid by tenants.
Property Size3,848 SF
Days on Market213
Property Features for 236 W 84th
General Information
Standard status
Active
Size
3,848 SF
Property subtype
Triplex
Occupancy
100%
Units
Unit Mix
2 x 5BR/3BA, 1 x 3BR/1BA
Multifamily Units
3
Additional Details
Utilities to Site
Yes
Amenities
solar
Building Details
Building Size
3,848 SF
Year Built
2024
Listing Agency:
LOU EDWARDS FINANCIAL INC.
Listed By:
LOU WU · License #02154371
Source:
Truthrealty
Added: Feb 2
Changed: Aug 28
Last Checked: Sep 2 at 12:28AM
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 LOU EDWARDS FINANCIAL INC.
Investment Insights
Based on property information with market context.
Newly built in 2024, this three-unit triplex is fully leased and stated as not subject to rent or eviction control. The property provides a unit mix of two five-bedroom, three-bath units and one three-bedroom, one-bath unit, for almost 4,000 square feet of living space. Each five-bedroom, three-bath unit includes two covered parking spaces, with additional uncovered parking available on the lot.
The property is described as having all utilities separately metered and paid by tenants, and includes fully paid off solar intended to assist tenants. The offering is positioned as cash flowing with established occupancy, with a current cap rate over 6.2% and a pro forma cap rate of 7.48%.
Additional context noted with the property includes proximity to USC and access to plentiful parking for tenants and guests.
The property is described as having all utilities separately metered and paid by tenants, and includes fully paid off solar intended to assist tenants. The offering is positioned as cash flowing with established occupancy, with a current cap rate over 6.2% and a pro forma cap rate of 7.48%.
Additional context noted with the property includes proximity to USC and access to plentiful parking for tenants and guests.
Key Highlights
- Built in 2024; described as not subject to rent or eviction control
- Fully leased three‑unit triplex with almost 4,000 SF of living space
- Two 5‑bedroom, 3‑bath units plus one 3‑bedroom, 1‑bath unit
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
$87,111
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
5.19%
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%
$1,742,220
$1.7M
Cap Rate 7%
$1,244,443
$1.2M
Cap Rate 9%
$967,900
$967.9K
Market Conditions
NOI Build-Up for 3,848 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
$127.0K $33.00/SF
− Vacancy
−$2.5K −$0.66/SF
EGI
$124.4K $32.34/SF
− OpEx
−$37.3K −$9.70/SF
NOI
$87.1K $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%
$1,742,220
Cap Rate 7%
$1,244,443
Cap Rate 9%
$967,900
Alternative Uses
Best Use
Apartment 5plus
$68.03M
$59.53M – $79.37M
NOI $4,762,108 @ 7.0% cap · market cap 283.63%
Second Best
Multifamily LT 5
$1.24M
$1.09M – $1.45M
NOI $87,111 @ 7.0% cap · market cap 5.19%
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
100%
Occupancy
Yes
Utilities to site
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
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Frequently Asked Questions
What type of property is this?
Triplex - Newly built 2024 triplex with a three-unit layout, fully leased, and separate utility metering paid by tenants.
Where is this triplex located?
The property is located at 236 W 84th Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,679,000.
What are key features of this property?
This property features: Built in 2024; described as not subject to rent or eviction control; Fully leased three‑unit triplex with almost 4,000 SF of living space; Two 5‑bedroom, 3‑bath units plus one 3‑bedroom, 1‑bath unit
