Four-Unit
New
For Sale
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3914 S Normandie Avenue, Los Angeles, CA 90037
Residential income property with varied unit layouts and recent improvements to one vacant unit and rear electrical service.
Property Size3,412 SF
Lot Size0.15 Acres
Price / SF$322.39
Days on Market7
Property Features for 3914 S Normandie Avenue
General Information
Standard status
Active
Size
3,412 SF
Lot size
0.15 Acres
Property subtype
Multifamily
Zoning
Public Rec
Net Operating Income
$68,890
Financials
Asking Price
$1,100,000
Cap Rate
6.26%
Gross Income
$103,200
Units
Unit Mix
3 x 2BD/1BA, 1 x 4BD/2BA
Multifamily Units
4
Building Details
Year Built
1921
Buildings
3
Stories
2
Units
4
Listing Agency:
Lyon Stahl Investment Real Estate
Listed By:
Fletcher Norseen · License #02156659
Source:
Crexi
Added: Aug 4
Changed: Aug 10
Last Checked: Aug 10 at 2:12AM
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 Lyon Stahl Investment Real Estate
Investment Insights
Based on property information with market context.
This four-unit residential property contains 3,412 square feet on a 6,506-square-foot lot. The configuration includes three two-bedroom, one-bathroom residences and one four-bedroom, two-bathroom residence, providing a mix of smaller and larger floor plans. The building was constructed in 1921.
A vacant unit has been updated with improvements to the kitchen, bathroom, flooring, and windows. New electrical panels serve the rear units. The property is near the University of Southern California, Downtown Los Angeles, Exposition Park, and major transit corridors.
A vacant unit has been updated with improvements to the kitchen, bathroom, flooring, and windows. New electrical panels serve the rear units. The property is near the University of Southern California, Downtown Los Angeles, Exposition Park, and major transit corridors.
Key Highlights
- Four‑unit property with three 2BD/1BA units and one 4BD/2BA unit
- 3,412 SF property on a 6,506 SF lot
- 1921 construction
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
$57,006
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
5.18%
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%
$1,140,120
$1.1M
Cap Rate 7%
$814,371
$814.4K
Cap Rate 9%
$633,400
$633.4K
Market Conditions
NOI Build-Up for 3,412 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
$83.5K $24.48/SF
− Vacancy
−$2.1K −$0.61/SF
EGI
$81.4K $23.87/SF
− OpEx
−$24.4K −$7.16/SF
NOI
$57.0K $16.71/SF
Area
ZIP 90037
Vacancy
2.50%
Lease Rate
$24.48 /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%
$1,140,120
Cap Rate 7%
$814,371
Cap Rate 9%
$633,400
Alternative Uses
Best Use
Multifamily LT 5
$814.4K
$712.6K – $950.1K
NOI $57,006 @ 7.0% cap · market cap 5.18%
Second Best
Apartment 5plus
$723.8K
$633.4K – $844.5K
NOI $50,668 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,586 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,327
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?
Quadplex - Residential income property with varied unit layouts and recent improvements to one vacant unit and rear electrical service.
Where is this quadplex located?
The property is located at 3914 S Normandie Avenue Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Four‑unit property with three 2BD/1BA units and one 4BD/2BA unit; 3,412 SF property on a 6,506 SF lot; 1921 construction
