Mixed-Use Building with
For Sale
$775,000
348 W Vernon AVE, Los Angeles, CA 90037
Street-level retail storefront plus three residential units on a fully improved lot with alley access and shared courtyard.
Property Size2,940 SF
Days on Market125
Property Features for 348 W Vernon AVE
General Information
Standard status
Active
Size
2,940 SF
Property subtype
MULTI_FAMILY
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
3
Amenities
shared courtyard
security gate
Building Details
Building Size
2,940 SF
Year Built
1911
Listing Agency:
CENTURY 21 REALTY MASTERS
Listed By:
Anabella Jimenez · License #01384351
(562) 677-1800
Source:
Jademillsestates
Added: May 4
Changed: Aug 28
Last Checked: Sep 5 at 7:02AM
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 CENTURY 21 REALTY MASTERS
Investment Insights
Based on property information with market context.
This mixed-use building combines street-level commercial space with three residential units. The retail storefront offers strong Vernon Avenue frontage with a wide window, security gate, and a flexible interior layout that can support retail, office, or service-oriented operations. The residential component includes three separate units with a mix of single-story and upper-level layouts and private entrances.
A shared courtyard and on-site access help provide separation and convenience between the commercial and residential areas. The property is on a fully improved lot with alley access and three individual meters, supporting efficient management. Zoned for mixed use; buyers should verify zoning details, unit count, and permitted uses with the City of Los Angeles.
Transportation connectivity is supported by nearby public transit and easy access to major thoroughfares and freeways for Downtown Los Angeles and surrounding neighborhoods.
A shared courtyard and on-site access help provide separation and convenience between the commercial and residential areas. The property is on a fully improved lot with alley access and three individual meters, supporting efficient management. Zoned for mixed use; buyers should verify zoning details, unit count, and permitted uses with the City of Los Angeles.
Transportation connectivity is supported by nearby public transit and easy access to major thoroughfares and freeways for Downtown Los Angeles and surrounding neighborhoods.
Key Highlights
- Built in 1911 mixed‑use property with a street‑level commercial storefront plus three residential units
- Commercial storefront on Vernon Ave features wide storefront window, security gate, and flexible interior layout
- Residential units total three separate units with private entrances and a mix of single‑story and upper‑level layouts
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
$59,535
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
7.68%
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%
$1,190,700
$1.2M
Cap Rate 7%
$850,500
$850.5K
Cap Rate 9%
$661,500
$661.5K
Market Conditions
NOI Build-Up for 2,940 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
$105.8K $36.00/SF
− Vacancy
−$10.6K −$3.60/SF
EGI
$95.3K $32.40/SF
− OpEx
−$35.7K −$12.15/SF
NOI
$59.5K $20.25/SF
Area
ZIP 90037
Vacancy
10.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,190,700
Cap Rate 7%
$850,500
Cap Rate 9%
$661,500
Alternative Uses
Best Use
Retail
$1.03M
$897.6K – $1.20M
NOI $71,808 @ 7.0% cap · market cap 9.27%
Second Best
Mixed Use
$850.5K
$744.2K – $992.3K
NOI $59,535 @ 7.0% cap · market cap 7.68%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,640 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road 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?
Mixed-use property - Street-level retail storefront plus three residential units on a fully improved lot with alley access and shared courtyard.
Where is this mixed-use property located?
The property is located at 348 W Vernon AVE Los Angeles, CA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Built in 1911 mixed‑use property with a street‑level commercial storefront plus three residential units; Commercial storefront on Vernon Ave features wide storefront window, security gate, and flexible interior layout; Residential units total three separate units with private entrances and a mix of single‑story and upper‑level layouts
