8-Unit Mid-Century Apartment
New
For Sale
$2,100,000
3823 Wisconsin, Los Angeles, CA 90037
LAR3-zoned multifamily property with updated plumbing, windows, security gate equipment, and completed seismic retrofit work.
Property Size5,508 SF
Days on Market2
Property Features for 3823 Wisconsin
General Information
Standard status
Active
Size
5,508 SF
Total Parking Spaces
8
Property subtype
Investment
Zoning
LAR3
Units
Unit Mix
7 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
8
Building Details
Building Size
5,508 SF
Year Built
1961
Units
8
Construction
Mid-Century modern
Listing Agency:
RE/MAX Alliance Group
Listed By:
Noe Blanco · License #01787137
(310) 508-7155
Source:
Elliman
Added: Sep 6
Last Checked: Sep 7 at 6:57AM
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 RE/MAX Alliance Group
Investment Insights
Based on property information with market context.
Built in 1961, this 8-unit apartment property features Mid-Century modern architecture and a unit mix of seven 2-bedroom, 1-bathroom residences plus one 1-bedroom, 1-bathroom residence. Property updates include copper plumbing, vinyl windows, and a new electric motor for the security gate. Seismic retrofit work has been completed, and on-site parking accommodates 8 vehicles.
The property is located at 3823 Wisconsin in Los Angeles, within walking distance of USC and the Lucas Museum and near the Expo Center and Los Angeles Memorial Coliseum. LAR3 zoning and a TOC Tier 4 designation support a conceptual addition of up to 18 units by right, subject to city verification. WalkScore is 74, BikeScore is 81, and TransitScore is 62.
The property is located at 3823 Wisconsin in Los Angeles, within walking distance of USC and the Lucas Museum and near the Expo Center and Los Angeles Memorial Coliseum. LAR3 zoning and a TOC Tier 4 designation support a conceptual addition of up to 18 units by right, subject to city verification. WalkScore is 74, BikeScore is 81, and TransitScore is 62.
Key Highlights
- 8‑unit apartment property built in 1961
- Unit mix includes (7) 2‑bedroom, 1‑bathroom units and (1) 1‑bedroom, 1‑bathroom unit
- LAR3 zoning with TOC Tier 4 designation
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
$81,793
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
3.89%
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%
$1,635,860
$1.6M
Cap Rate 7%
$1,168,471
$1.2M
Cap Rate 9%
$908,811
$908.8K
Market Conditions
NOI Build-Up for 5,508 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
$149.8K $27.19/SF
− Vacancy
−$1.0K −$0.19/SF
EGI
$148.7K $27.00/SF
− OpEx
−$66.9K −$12.15/SF
NOI
$81.8K $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%
$1,635,860
Cap Rate 7%
$1,168,471
Cap Rate 9%
$908,811
Alternative Uses
Best Use
Apartment 5plus
$1.17M
$1.02M – $1.36M
NOI $81,793 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $151,076 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,672
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - LAR3-zoned multifamily property with updated plumbing, windows, security gate equipment, and completed seismic retrofit work.
Where is this apartment building located?
The property is located at 3823 Wisconsin Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 8‑unit apartment property built in 1961; Unit mix includes (7) 2‑bedroom, 1‑bathroom units and (1) 1‑bedroom, 1‑bathroom unit; LAR3 zoning with TOC Tier 4 designation
