Six-Unit Apartment
For Sale
$1,595,000
324 W 51st St, Los Angeles, CA 90037
Residential Income, Contemporary, Los Angeles, CA
Property Size5,193 SF
Lot Size0.13 Acres
Price / SF$307.14
Days on Market30
Property Features for 324 W 51st St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LARD2
Bedrooms
16
Bathrooms
7
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 10, Bathroom 3, Bedroom 6, Bedroom 16, Bedroom 8, Bathroom 7, Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 5, Bedroom 2, Bedroom 1, Bathroom 6, Bedroom 14, Bedroom 12, Bedroom 15, Bedroom 3, Bathroom 5, Bedroom 11, Bedroom 13, Bedroom 7, Bedroom 9
Interior features
Drywall Walls, Recessed Lighting
Appliances
Free Standing Gas, Microwave
Elementary school district
Los Angeles Unified
Middle school district
Los Angeles Unified
High school district
Los Angeles Unified
Directions
East of the 110 Freeway, west of Broadway, south of Vernon Ave, north of Slauson Ave
Subdivision
Downtown L.A.
Special listing conditions
Notice Of Default, In Foreclosure
Standard status
Active
APN
5110-027-007
Size
5,193 SF
Lot size
0.13 Acres
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
1922
Floors in Building
2
Number of units
6
Flooring type
Vinyl
Roof type
Flat
Architectural style
Contemporary
Listing Agency:
Beverly & Company Luxury Properties
(323) 410-0848
Listed By:
Nicholas Hedberg · License #02016456
(703) 587-2918
Added: Oct 1
Changed: Oct 30
Last Checked: Oct 30 at 4:06PM
MLS# 26994983
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This six-unit apartment property comprises a 1922 front building and two detached accessory dwelling units added in 2024. The front building contains four remodeled three-bedroom apartments: two with one-and-a-half baths and two with one bath. Each ADU has two bedrooms and one bath. The property totals 5,193 square feet on a 0.1265-acre lot and is zoned LARD2.
Renovated kitchens include shaker cabinetry, stainless steel appliances, built-in microwaves, and vinyl plank flooring. Mini-split heating and cooling serves every unit. The four apartments in the front building also have dishwashers and stacked in-unit laundry. Gas and electricity are separately metered, water is submetered, and all six units are leased.
The property is in South Park, with USC, Exposition Park, and the Lucas Museum identified as nearby destinations.
Renovated kitchens include shaker cabinetry, stainless steel appliances, built-in microwaves, and vinyl plank flooring. Mini-split heating and cooling serves every unit. The four apartments in the front building also have dishwashers and stacked in-unit laundry. Gas and electricity are separately metered, water is submetered, and all six units are leased.
The property is in South Park, with USC, Exposition Park, and the Lucas Museum identified as nearby destinations.
Key Highlights
- Six apartments, including four three‑bedroom units and two detached ADUs
- 5,193 square feet on a 0.1265‑acre lot; zoned LARD2
- The 1922 front building was remodeled; two ADUs were built in 2024
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
1,985
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated apartments feature updated kitchens, individual heating and cooling, and separately metered gas and electricity.
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 apartments, including four three‑bedroom units and two detached ADUs; 5,193 square feet on a 0.1265‑acre lot; zoned LARD2; The 1922 front building was remodeled; two ADUs were built in 2024
