Remodeled Quadplex with Two
New
For Sale
$3,288,000
4103 S Normandie Ave, Los Angeles, CA 90037
Townhouse-style units provide individual laundry hookups, central HVAC, and separately metered utilities.
Property Size7,316 SF
Price / SF$449.43
Days on Market2
Property Features for 4103 S Normandie Ave
General Information
Standard status
Active
Size
7,316 SF
Total Parking Spaces
8
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 4BR/4BA, 2 x 7BR/7BA
Multifamily Units
4
Amenities
indoor laundry hook-up
central HVAC
Building Details
Building Size
7,316 SF
Year Built
2019
Buildings
2
Units
4
Construction
townhouse style
Listed By:
JIAN LIN
(626) 285-8333
Source:
Elliman
Added: Sep 12
Last Checked: Sep 12 at 2:44PM
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 JIAN LIN
Investment Insights
Based on property information with market context.
Built in 2019, this townhouse-style quadplex consists of two separate buildings totaling 7,316 sqft, with 22 bedrooms and 22 bathrooms across four units. The front building contains two 1,452-square-foot residences, each configured with 4 bedrooms, 4 bathrooms, and a two-car tandem parking garage. The second building includes two 2,206-square-foot residences, each with 7 bedrooms, 7 bathrooms, and two-car tandem uncovered parking spaces.
Each unit has its own indoor laundry hookups, separate water, electricity, and gas meters, and central HVAC. Interior features include open layouts, vinyl laminate wood and tile flooring, and quartz kitchen countertops. Recent improvements include interior painting throughout, painted kitchen cabinets, and new ovens in all kitchens.
The property is located at 4103 S Normandie Ave in Southwest Los Angeles, near USC, community parks, shopping, restaurants, banks, schools, Downtown Los Angeles, and the Metro E Line. The 110 and 10 freeways are also a short distance away.
Each unit has its own indoor laundry hookups, separate water, electricity, and gas meters, and central HVAC. Interior features include open layouts, vinyl laminate wood and tile flooring, and quartz kitchen countertops. Recent improvements include interior painting throughout, painted kitchen cabinets, and new ovens in all kitchens.
The property is located at 4103 S Normandie Ave in Southwest Los Angeles, near USC, community parks, shopping, restaurants, banks, schools, Downtown Los Angeles, and the Metro E Line. The 110 and 10 freeways are also a short distance away.
Key Highlights
- Two‑building quadplex totaling 7,316 sqft with 22 bedrooms and 22 bathrooms
- Built in 2019 with four townhouse‑style units
- Front‑building units measure 1,452 sqft each and include 4 bedrooms and 4 bathrooms
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
$122,233
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
3.72%
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%
$2,444,660
$2.4M
Cap Rate 7%
$1,746,186
$1.7M
Cap Rate 9%
$1,358,144
$1.4M
Market Conditions
NOI Build-Up for 7,316 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
$179.1K $24.48/SF
− Vacancy
−$4.5K −$0.61/SF
EGI
$174.6K $23.87/SF
− OpEx
−$52.4K −$7.16/SF
NOI
$122.2K $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%
$2,444,660
Cap Rate 7%
$1,746,186
Cap Rate 9%
$1,358,144
Alternative Uses
Best Use
Multifamily LT 5
$1.75M
$1.53M – $2.04M
NOI $122,233 @ 7.0% cap · market cap 3.72%
Second Best
Apartment 5plus
$1.55M
$1.36M – $1.81M
NOI $108,641 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$2.87M
$2.51M – $3.34M
NOI $200,667 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,360
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
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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 - Townhouse-style units provide individual laundry hookups, central HVAC, and separately metered utilities.
Where is this quadplex located?
The property is located at 4103 S Normandie Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,288,000.
What are key features of this property?
This property features: Two‑building quadplex totaling 7,316 sqft with 22 bedrooms and 22 bathrooms; Built in 2019 with four townhouse‑style units; Front‑building units measure 1,452 sqft each and include 4 bedrooms and 4 bathrooms
