6-Unit Apartment
For Sale
$1,595,000
324 W 51st St, Los Angeles, CA 90037
The property combines a remodeled four-unit front building with two detached accessory dwelling units.
Property Size5,193 SF
Days on Market33
Property Features for 324 W 51st St
General Information
Standard status
Active
Size
5,193 SF
Property subtype
MULTI_FAMILY
Site & Location
Neighborhood
South Los Angeles
Building Details
Building Size
5,193 SF
Year Built
1922
Listing Agency:
Beverly & Company Luxury Properties
Listed By:
Nicholas Hedberg · License #02016456
Source:
Jademillsestates
Added: Oct 1
Changed: Nov 1
Last Checked: Nov 1 at 3:00PM
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 Beverly & Company Luxury Properties
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Investment Insights
Based on property information with market context.
This six-unit apartment property pairs a remodeled 1922 front building with two detached ADUs completed in 2024. The front structure contains four three-bedroom units: two with one and a half baths on the lower level and two with one bath upstairs. Each ADU has two bedrooms and one bath. Kitchens feature shaker cabinetry, stainless steel appliances, built-in microwaves and vinyl plank flooring. Mini-split heating and air conditioning serve every unit; the four front apartments also have dishwashers and stacked in-unit laundry.
All six units are leased. Gas and electricity are separately metered, while water is submetered. Tenants pay gas, electricity and trash; five units also pay for water. The property is in South Park, with USC, Exposition Park and the Lucas Museum identified as nearby destinations.
All six units are leased. Gas and electricity are separately metered, while water is submetered. Tenants pay gas, electricity and trash; five units also pay for water. The property is in South Park, with USC, Exposition Park and the Lucas Museum identified as nearby destinations.
Key Highlights
- Six units: four three‑bedroom apartments and two detached two‑bedroom ADUs
- Two ADUs completed in 2024; each has 2 bedrooms and 1 bath
- The 1922 front building contains two 3/1.5 units downstairs and two 3/1 units upstairs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,115
Cap Rate
4.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,542,300
$1.5M
Cap Rate 7%
$1,101,643
$1.1M
Cap Rate 9%
$856,833
$856.8K
Market Conditions
NOI Build-Up for 5,193 SF
Gross rent
$141.2K $27.19/SF
− Vacancy
−$988 −$0.19/SF
EGI
$140.2K $27.00/SF
− OpEx
−$63.1K −$12.15/SF
NOI
$77.1K $14.85/SF
Area
ZIP 90037
Vacancy
0.70%
Lease Rate
$27.19 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,542,300
Cap Rate 7%
$1,101,643
Cap Rate 9%
$856,833
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$963.9K – $1.29M
NOI $77,115 @ 7.0% cap · market cap 4.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,436 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,457
Businesses Nearby
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Business Placement
Demographics for 90037, CA
63,706
Population
18,709
Households
3.4
Avg Household Size
33
Median Age
9%
College-Educated
54%
High-School Grad
2.9 sq mi
ZIP Area
21,968
Density / Sq Mi
$56,417
Median Household Income
$29,857
Median Earnings
$1,438
Median Rent
$632,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The property combines a remodeled four-unit front building with two detached accessory dwelling units.
Where is this apartment building located?
The property is located at 324 W 51st St Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Six units: four three‑bedroom apartments and two detached two‑bedroom ADUs; Two ADUs completed in 2024; each has 2 bedrooms and 1 bath; The 1922 front building contains two 3/1.5 units downstairs and two 3/1 units upstairs
