20-Unit Apartment
New
For Sale
$3,000,000
331 W 45th ST, Los Angeles, CA 90037
Individual enclosed kitchens, separate utility metering, and extensive building-system upgrades support the property’s multifamily configuration.
Property Size8,024 SF
Days on Market3
Property Features for 331 W 45th ST
General Information
Standard status
Active
Size
8,024 SF
Property subtype
Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
20
Building Details
Building Size
8,024 SF
Year Built
1926
Listing Agency:
Pinnacle Estate Properties, Inc.
Listed By:
Wendy Morley · License #01788681
(818) 665-9202
Source:
Milsteinestates
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 1 at 4:36PM
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 Pinnacle Estate Properties, Inc.
Investment Insights
Based on property information with market context.
Built in 1926, the apartment building contains 20 individual units, each with a separate enclosed kitchen room. Major improvements include a complete re-roof, extensive electrical work, upgraded meter boxes, new plumbing, and newer mechanical components. Electric and gas utilities are separately metered, while copper plumbing serves each unit from the meters. A newer gas water heater and recirculating pump distribute hot water throughout the property. Exterior security cameras and a monitored fire alarm system are also in place.
The property includes an approximately 14' x 38' basement area that may accommodate laundry facilities, tenant storage, building storage, or other permitted uses, subject to buyer verification and applicable city requirements. The address provides access to Downtown Los Angeles, USC, the Los Angeles Convention Center, Metro rail, and the 110 Freeway.
The property includes an approximately 14' x 38' basement area that may accommodate laundry facilities, tenant storage, building storage, or other permitted uses, subject to buyer verification and applicable city requirements. The address provides access to Downtown Los Angeles, USC, the Los Angeles Convention Center, Metro rail, and the 110 Freeway.
Key Highlights
- 20 individual apartment units, each with a separate enclosed kitchen room
- Approximately 14' x 38' basement area for potential laundry or storage uses, subject to verification
- Complete re‑roof and extensive electrical and plumbing improvements
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
$119,155
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
3.97%
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%
$2,383,100
$2.4M
Cap Rate 7%
$1,702,214
$1.7M
Cap Rate 9%
$1,323,944
$1.3M
Market Conditions
NOI Build-Up for 8,024 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
$218.2K $27.19/SF
− Vacancy
−$1.5K −$0.19/SF
EGI
$216.6K $27.00/SF
− OpEx
−$97.5K −$12.15/SF
NOI
$119.2K $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 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%
$2,383,100
Cap Rate 7%
$1,702,214
Cap Rate 9%
$1,323,944
Alternative Uses
Best Use
Apartment 5plus
$1.70M
$1.49M – $1.99M
NOI $119,155 @ 7.0% cap · market cap 3.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.14M
$2.75M – $3.67M
NOI $220,087 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,709
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Individual enclosed kitchens, separate utility metering, and extensive building-system upgrades support the property’s multifamily configuration.
Where is this apartment building located?
The property is located at 331 W 45th ST Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 20 individual apartment units, each with a separate enclosed kitchen room; Approximately 14' x 38' basement area for potential laundry or storage uses, subject to verification; Complete re‑roof and extensive electrical and plumbing improvements
