Quadplex with Dedicated
For Sale
$1,200,000
Pending
3272 Fay, Culver City, CA 90232
Unit mix includes three one-bedroom homes and one two-bedroom home, with long-term occupancy and recent improvements to two lower units.
Property Size2,362 SF
Days on Market51
Property Features for 3272 Fay
General Information
Standard status
Pending
Size
2,362 SF
Total Parking Spaces
5
Property subtype
Residential Income
Net Operating Income
$70,888
Units
Unit Mix
3 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
4
Additional Details
Gross Income
$77,208
Amenities
Curbs, Sidewalks
ENERGY STAR Qualified Equipment
Assigned, Paved
Building Details
Building Size
2,362 SF
Year Built
1961
Buildings
1
Stories
2
Listing Agency:
Stephen P Ceausu, Broker
Listed By:
Stephen Ceausu
(714) 305-3709
Source:
Evrealestate
Added: Jul 14
Changed: Aug 28
Last Checked: Sep 1 at 3:15PM
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 Stephen P Ceausu, Broker
Investment Insights
Based on property information with market context.
Located at 3272 Fay in Culver City, this four-unit residential income property includes three one-bedroom, one-bath units and one two-bedroom, one-bath unit. Two lower-level residences were remodeled within the last two years and have newer windows. The property is occupied by long-term tenants.
Five dedicated parking spaces are positioned at the rear, with potential for two additional spaces at the front. The City has indicated that an ADU may be possible, subject to applicable review and approvals. The property is in Culver City, California, with a unit configuration suited to multifamily ownership.
Five dedicated parking spaces are positioned at the rear, with potential for two additional spaces at the front. The City has indicated that an ADU may be possible, subject to applicable review and approvals. The property is in Culver City, California, with a unit configuration suited to multifamily ownership.
Key Highlights
- Four‑unit configuration with three 1‑bedroom, 1‑bath units and one 2‑bedroom, 1‑bath unit
- Two lower units remodeled within the last two years
- Newer windows installed at two lower units
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
$41,249
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
3.44%
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%
$824,980
$825.0K
Cap Rate 7%
$589,271
$589.3K
Cap Rate 9%
$458,322
$458.3K
Market Conditions
NOI Build-Up for 2,362 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 $27.00/SF
− Vacancy
−$4.8K −$2.05/SF
EGI
$58.9K $24.95/SF
− OpEx
−$17.7K −$7.48/SF
NOI
$41.2K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /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%
$824,980
Cap Rate 7%
$589,271
Cap Rate 9%
$458,322
Alternative Uses
Best Use
Multifamily LT 5
$589.3K
$515.6K – $687.5K
NOI $41,249 @ 7.0% cap · market cap 3.44%
Second Best
Apartment 5plus
$542.9K
$475.1K – $633.4K
NOI $38,006 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$1.26M
$1.11M – $1.48M
NOI $88,522 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,684
Businesses Nearby
Explore this area
Business Placement
Demographics for 90232, CA
16,452
Population
7,995
Households
2.1
Avg Household Size
38
Median Age
64%
College-Educated
91%
High-School Grad
2.2 sq mi
ZIP Area
7,478
Density / Sq Mi
$125,490
Median Household Income
$84,701
Median Earnings
$2,659
Median Rent
$1,491,800
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?
Quadplex - Unit mix includes three one-bedroom homes and one two-bedroom home, with long-term occupancy and recent improvements to two lower units.
Where is this quadplex located?
The property is located at 3272 Fay Culver City, CA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Four‑unit configuration with three 1‑bedroom, 1‑bath units and one 2‑bedroom, 1‑bath unit; Two lower units remodeled within the last two years; Newer windows installed at two lower units
