Victorian-Style
For Sale
$1,249,000
4051 S Normandie Ave, Los Angeles, CA 90037
Two remodeled units offer spacious living areas, multiple bedrooms, and shared outdoor space with overflow parking potential.
Property Size2,464 SF
Price / SF$506.90
Days on Market131
Property Features for 4051 S Normandie Ave
General Information
Standard status
Active
Size
2,464 SF
Property subtype
MULTI_FAMILY
Additional Details
Multifamily Units
2
Building Details
Building Size
2,464 SF
Year Built
1913
Construction
Victorian-style
Listing Agency:
Douglas Elliman
Listed By:
Ernie Stone · License #02050169
Source:
Benbelack
Added: Mar 30
Changed: Aug 5
Last Checked: Aug 7 at 1:52AM
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 Douglas Elliman
Investment Insights
Based on property information with market context.
Built in 1913, this 2,464-square-foot duplex in Los Angeles includes two residential units with spacious interiors and multiple bedrooms across the upper and lower levels. Both units have undergone full remodeling, with the latest improvements completed 4 years ago. The property also includes a detached garage and an outdoor area that may support overflow parking or patio use.
Recent physical improvements include a roof installed 1.5 years ago and double-pane windows that are 7 years old, backed by a lifetime warranty from American Vision Windows. The detached garage provides potential for ADU conversion, subject to applicable requirements.
Recent physical improvements include a roof installed 1.5 years ago and double-pane windows that are 7 years old, backed by a lifetime warranty from American Vision Windows. The detached garage provides potential for ADU conversion, subject to applicable requirements.
Key Highlights
- Two‑unit duplex with 2,464 SF of building area
- Victorian‑style property built in 1913
- Both units fully remodeled; latest renovations completed 4 years ago
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
$41,168
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
3.30%
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%
$823,360
$823.4K
Cap Rate 7%
$588,114
$588.1K
Cap Rate 9%
$457,422
$457.4K
Market Conditions
NOI Build-Up for 2,464 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
$60.3K $24.48/SF
− Vacancy
−$1.5K −$0.61/SF
EGI
$58.8K $23.87/SF
− OpEx
−$17.6K −$7.16/SF
NOI
$41.2K $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%
$823,360
Cap Rate 7%
$588,114
Cap Rate 9%
$457,422
Alternative Uses
Best Use
Multifamily LT 5
$588.1K
$514.6K – $686.1K
NOI $41,168 @ 7.0% cap · market cap 3.30%
Second Best
Apartment 5plus
$522.7K
$457.4K – $609.8K
NOI $36,590 @ 7.0% cap · market cap 2.93%
Theoretical Best
Office A
$965.5K
$844.8K – $1.13M
NOI $67,584 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
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?
Duplex - Two remodeled units offer spacious living areas, multiple bedrooms, and shared outdoor space with overflow parking potential.
Where is this duplex located?
The property is located at 4051 S Normandie Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,249,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,464 SF of building area; Victorian‑style property built in 1913; Both units fully remodeled; latest renovations completed 4 years ago
