Mixed-Use Property with
For Sale
$1,200,000
Pending
409 South Savannah Street, Los Angeles, CA 90033
Five residential units plus a leased storefront in Los Angeles.
Property Size3,332 SF
Days on Market167
Property Features for 409 South Savannah Street
General Information
Standard status
Pending
Size
3,332 SF
Property subtype
Residential Income
Net Operating Income
$66,136
Building Details
Year Built
1936
Buildings
3
Units
5
Listing Agency:
CENTURY 21 REALTY MASTERS
(213) 712-2797
Listed By:
FELIPE ACUNA · License #01066186
(213) 712-2797
Source:
Compass
Added: Mar 10
Changed: Aug 23
Last Checked: Aug 3 at 12:01PM
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 CENTURY 21 REALTY MASTERS
Investment Insights
Based on property information with market context.
This mixed-use property features a total of five units, including a three-bedroom, one-bath unit, a three-bedroom, two-bath unit, and two two-bedroom units, in addition to a corner storefront. The storefront is currently leased to Buy a Paletta business, which has been in place for several years. The three-bedroom, two-bath unit has been completely remodeled and is currently vacant, suitable for owner occupancy or increased rental income. The storefront includes a basement for storage. The property is located approximately 10 minutes from downtown Los Angeles, with proximity to schools, shopping areas, eateries, parks, and public transportation.
Key Highlights
- Corner storefront with existing tenant (Buy a Paletta business).
- One vacant, completely remodeled 3‑bedroom, 2‑bath unit (owner‑occupied potential).
- Total of five units: one 3‑bedroom/1‑bath, one 3‑bedroom/2‑bath, two 2‑bedroom units, and a storefront.
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
$77,326
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
6.44%
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%
$1,546,520
$1.5M
Cap Rate 7%
$1,104,657
$1.1M
Cap Rate 9%
$859,178
$859.2K
Market Conditions
NOI Build-Up for 3,332 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
$123.2K $36.96/SF
− Vacancy
−$12.7K −$3.81/SF
EGI
$110.5K $33.15/SF
− OpEx
−$33.1K −$9.95/SF
NOI
$77.3K $23.21/SF
Area
Los Angeles, CA
Vacancy
10.30%
Lease Rate
$36.96 /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%
$1,546,520
Cap Rate 7%
$1,104,657
Cap Rate 9%
$859,178
Alternative Uses
Best Use
Apartment 5plus
$58.91M
$51.54M – $68.73M
NOI $4,123,530 @ 7.0% cap · market cap 343.63%
Second Best
Retail
$1.10M
$966.6K – $1.29M
NOI $77,326 @ 7.0% cap · market cap 6.44%
Theoretical Best
Multifamily LT 5
$67.50M
$59.07M – $78.76M
NOI $4,725,302 @ 7.0% cap · market cap 393.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,151
Businesses Nearby
Explore this area
Business Placement
Demographics for 90033, CA
46,081
Population
13,874
Households
3.3
Avg Household Size
32
Median Age
14%
College-Educated
54%
High-School Grad
3.3 sq mi
ZIP Area
13,964
Density / Sq Mi
$56,001
Median Household Income
$29,600
Median Earnings
$1,391
Median Rent
$669,500
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?
Apartment building - Five residential units plus a leased storefront in Los Angeles.
Where is this apartment building located?
The property is located at 409 South Savannah Street Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Corner storefront with existing tenant (Buy a Paletta business).; One vacant, **completely remodeled 3‑bedroom, 2‑bath unit** (owner‑occupied potential).; Total of five units: one 3‑bedroom/1‑bath, one 3‑bedroom/2‑bath, two 2‑bedroom units, and a storefront.
