Four-Unit Multifamily
New
For Sale
$1,400,000
3852 Prospect Ave, Culver City, CA 90232
Vintage multifamily property with in-unit laundry and rear parking.
Property Size3,512 SF
Lot Size0.17 Acres
Price / SF$398.63
Days on Market4
Property Features for 3852 Prospect Ave
General Information
Standard status
Active
Size
3,512 SF
Total Parking Spaces
4
Lot size
0.17 Acres
Property subtype
MULTI_FAMILY
Units
Unit Mix
1 x 1BR/1BA, 3 x 2BR/1BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Amenities
in-unit washer and dryer
Building Details
Building Size
3,512 SF
Year Built
1926
Buildings
1
Listing Agency:
NorthMarq Realty Services, Inc.
Listed By:
Elliot Hassan · License #01481211
(213) 943-1800
Source:
Evecap
Added: Sep 9
Changed: Sep 11
Last Checked: Sep 11 at 2:33PM
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 NorthMarq Realty Services, Inc.
Investment Insights
Based on property information with market context.
Built in 1926, this four-unit multifamily property contains approximately 3,512 gross square feet on a 7,502-square-foot lot. The unit mix includes one one-bedroom, one-bathroom residence and three two-bedroom, one-bathroom residences. Each unit has an in-unit washer and dryer, while the property remains largely in its original condition with period character intact.
A freestanding rear carport provides four parking spaces and may offer an opportunity to evaluate ADU conversion or other redevelopment options, subject to buyer verification and applicable approvals. Current in-place rents reflect approximately 20% loss-to-lease. The property is located in Culver City near Sony Pictures, Amazon Studios, Apple, The Culver Studios, and the Hayden Tract, with the Palms Metro E Line Station approximately a seven-minute walk away.
A freestanding rear carport provides four parking spaces and may offer an opportunity to evaluate ADU conversion or other redevelopment options, subject to buyer verification and applicable approvals. Current in-place rents reflect approximately 20% loss-to-lease. The property is located in Culver City near Sony Pictures, Amazon Studios, Apple, The Culver Studios, and the Hayden Tract, with the Palms Metro E Line Station approximately a seven-minute walk away.
Key Highlights
- Four‑unit property with one 1‑bedroom and three 2‑bedroom residences
- Approximately 3,512 gross square feet on a 7,502‑square‑foot lot
- In‑unit washer and dryer in every residence
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
$61,332
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
4.38%
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%
$1,226,640
$1.2M
Cap Rate 7%
$876,171
$876.2K
Cap Rate 9%
$681,467
$681.5K
Market Conditions
NOI Build-Up for 3,512 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
$94.8K $27.00/SF
− Vacancy
−$7.2K −$2.05/SF
EGI
$87.6K $24.95/SF
− OpEx
−$26.3K −$7.48/SF
NOI
$61.3K $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%
$1,226,640
Cap Rate 7%
$876,171
Cap Rate 9%
$681,467
Alternative Uses
Best Use
Multifamily LT 5
$876.2K
$766.7K – $1.02M
NOI $61,332 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$807.3K
$706.4K – $941.9K
NOI $56,511 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$1.88M
$1.65M – $2.19M
NOI $131,622 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
4,701
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Vintage multifamily property with in-unit laundry and rear parking.
Where is this quadplex located?
The property is located at 3852 Prospect Ave Culver City, CA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Four‑unit property with one 1‑bedroom and three 2‑bedroom residences; Approximately 3,512 gross square feet on a 7,502‑square‑foot lot; In‑unit washer and dryer in every residence
