Duplex with Front Commercial
For Sale
$1,885,000
4129 Chevy Chase Dr, Los Angeles, CA 90039
MULTI_FAMILY - Los Angeles, CA
Property Size3,605 SF
Lot Size0.16 Acres
Price / SF$522.88
Days on Market46
Property Features for 4129 Chevy Chase Dr
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LAR1
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1, Bathroom 3, Bedroom 3
Parking
3
Parking features
Driveway
Directions
Take the 110 N to the 5 N.Exit at Los Feliz Blvd. Head east on Los Feliz Blvd, then turn left onto Chevy Chase Dr.Continue to 4129 Chevy Chase Dr.
Subdivision
Atwater
Standard status
Active
APN
5593-025-011
Size
3,605 SF
Lot size
0.16 Acres
Amenities
gated secure property
camera system
Building Details
Year built
1923
Floors in Building
2
Number of units
2
Listing Agency:
Remax Commercial and Investment Realty · RE/MAX International
(213) 817-1000
Listed By:
Patrick Dilanian · License #01823895
(213) 233-4393
Added: Jul 9
Changed: Aug 1
Last Checked: Aug 23 at 7:06PM
MLS# 26857739
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex-style mixed-use property includes front commercial space plus two residential components in a gated, secure setting. The front unit is allowed for general retail commercial use and was formerly a mini-market through 2021; it was rehabilitated extensively with flex-space and a roof deck addition, with permits from 2023-2024 and current use as auxiliary office space. The rear detached dwelling was extensively remodeled with permitted additions, expanding from a 1-bedroom bungalow into a 2-bedroom unit with a private yard. In addition, the detached garage in the rear was converted into a 1-bedroom ADU with a permitted addition and a private yard. The rear ADU is currently rented by a residential tenant, while the front commercial space and the middle detached dwelling will be delivered vacant to the buyer.
The property sits on a 0.1607-acre lot and contains 3,605 square feet, built in 1923. A gated secure parking area for up to 4 vehicles is provided, along with a camera system for the entire property.
A full set of permits related to the 2023-2024 remodeling and additions, approved plans for construction, and current Certificates of Occupancy are available and can be shared with qualified buyers.
The property sits on a 0.1607-acre lot and contains 3,605 square feet, built in 1923. A gated secure parking area for up to 4 vehicles is provided, along with a camera system for the entire property.
A full set of permits related to the 2023-2024 remodeling and additions, approved plans for construction, and current Certificates of Occupancy are available and can be shared with qualified buyers.
Key Highlights
- 0.1607‑acre lot with 3,605 square feet in LAR1 zoning
- Front commercial unit allowed for general retail; formerly a mini‑market through 2021
- Front unit rehabilitated with flex‑space and roof deck addition; permits from 2023‑2024
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
$85,569
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
4.54%
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%
$1,711,380
$1.7M
Cap Rate 7%
$1,222,414
$1.2M
Cap Rate 9%
$950,767
$950.8K
Market Conditions
NOI Build-Up for 3,605 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
$140.2K $38.88/SF
− Vacancy
−$26.1K −$7.23/SF
EGI
$114.1K $31.65/SF
− OpEx
−$28.5K −$7.91/SF
NOI
$85.6K $23.74/SF
Area
Los Angeles, CA
Vacancy
18.60%
Lease Rate
$38.88 /SF/Yr
Expense Ratio
25.00%
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%
$1,711,380
Cap Rate 7%
$1,222,414
Cap Rate 9%
$950,767
Alternative Uses
Best Use
Multifamily LT 5
$73.04M
$63.91M – $85.21M
NOI $5,112,459 @ 7.0% cap · market cap 271.22%
Second Best
Apartment 5plus
$63.73M
$55.77M – $74.36M
NOI $4,461,382 @ 7.0% cap · market cap 236.68%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,287
Businesses Nearby
Explore this area
Business Placement
Demographics for 90039, CA
28,059
Population
13,332
Households
2.1
Avg Household Size
40
Median Age
57%
College-Educated
90%
High-School Grad
3.6 sq mi
ZIP Area
7,794
Density / Sq Mi
$105,578
Median Household Income
$56,121
Median Earnings
$2,149
Median Rent
$1,202,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Gated mixed-use duplex in LAR1 zoning with front commercial unit, remodeled detached dwelling, and rear ADU with live-work/rental flexibility.
Where is this duplex located?
The property is located at 4129 Chevy Chase Dr Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,885,000.
What are key features of this property?
This property features: 0.1607‑acre lot with 3,605 square feet in LAR1 zoning; Front commercial unit allowed for general retail; formerly a mini‑market through 2021; Front unit rehabilitated with flex‑space and roof deck addition; permits from 2023‑2024
