Permitted ADU Duplex
For Sale
$950,000
242 W 88th, Los Angeles, CA 90003
Los Angeles, CA
Property Size1,629 SF
Lot Size0.11 Acres
Price / SF$583.18
Days on Market33
Property Features for 242 W 88th
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 1, Laundry Room, Bathroom 2, Bedroom 3, Bedroom 4, Bathroom 3, Bathroom 1
Lot features
Paved
Elementary school district
Los Angeles Unified
Middle school district
Los Angeles Unified
High school district
Los Angeles Unified
Directions
110 > Manchester > S. Broadway > W. 88th St
Subdivision
C34 - Los Angeles Southwest
Standard status
Active
APN
6040023009
Size
1,629 SF
Lot size
0.11 Acres
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1910
Floors in Building
1
Number of units
2
Listing Agency:
Real Broker
(619) 248-6434
Listed By:
Brenda Piumpunyalerd · License #01894496
(213) 400-5803
Added: Jul 22
Changed: Aug 20
Last Checked: Aug 23 at 6:06PM
MLS# PW26181144
Copyright © 2026 California Regional Multiple Listing Service, Inc. 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 duplex property combines a 2-bedroom, 1-bath main residence with a separately constructed, permitted ADU offering an additional 2 bedrooms and 1 bath. The main home contains 812 square feet, while the ADU adds 817 square feet, creating 1,629 square feet of residential space across two independent living areas. The ADU provides newer construction, and the property also includes a laundry room, wall furnace heating, and wall or window unit cooling.
Set on a 0.1106-acre lot in Los Angeles, the property is near the Vermont Avenue and Broadway corridors, with access to the 110 Freeway. USC, Exposition Park, Downtown Los Angeles, shopping, dining, and public transit are identified nearby. Public water and sewer serve the property, and cable service is available.
Set on a 0.1106-acre lot in Los Angeles, the property is near the Vermont Avenue and Broadway corridors, with access to the 110 Freeway. USC, Exposition Park, Downtown Los Angeles, shopping, dining, and public transit are identified nearby. Public water and sewer serve the property, and cable service is available.
Key Highlights
- Permitted ADU adds 817 square feet of new construction
- Main residence contains 812 square feet with 2 bedrooms and 1 bath
- Two separate residential units total 1,629 square feet
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
$36,877
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
3.88%
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%
$737,540
$737.5K
Cap Rate 7%
$526,814
$526.8K
Cap Rate 9%
$409,744
$409.7K
Market Conditions
NOI Build-Up for 1,629 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
$53.8K $33.00/SF
− Vacancy
−$1.1K −$0.66/SF
EGI
$52.7K $32.34/SF
− OpEx
−$15.8K −$9.70/SF
NOI
$36.9K $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%
$737,540
Cap Rate 7%
$526,814
Cap Rate 9%
$409,744
Alternative Uses
Best Use
Apartment 5plus
$28.80M
$25.20M – $33.60M
NOI $2,015,976 @ 7.0% cap · market cap 212.21%
Second Best
Multifamily LT 5
$526.8K
$461.0K – $614.6K
NOI $36,877 @ 7.0% cap · market cap 3.88%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,197
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?
Duplex - Two distinct residential units provide flexible occupancy options with public water and sewer service.
Where is this duplex located?
The property is located at 242 W 88th Los Angeles, CA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Permitted ADU adds 817 square feet of new construction; Main residence contains 812 square feet with 2 bedrooms and 1 bath; Two separate residential units total 1,629 square feet
