8-Unit Mid-Century Apartment
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 Market66
Property Features for 3823 Wisconsin
General Information
Standard status
Active
Size
5,508 SF
Total Parking Spaces
8
Property subtype
MULTI_FAMILY
Zoning
LAR3
Site & Location
Neighborhood
South Los Angeles
Units
Unit Mix
7 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
8
Building Details
Building Size
5,508 SF
Year Built
1961
Construction
Mid-Century modern
Listing Agency:
Remax Alliance Group
Listed By:
Daria Cernavskis · License #02086946
(310) 990-0720
Source:
Jademillsestates
Added: Aug 20
Changed: Oct 21
Last Checked: Oct 23 at 3:20PM
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 Remax Alliance Group
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Investment Insights
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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 / Yr
$81,793
Cap Rate
3.89%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,672
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
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
