Building Details

Buildings 1

Stories 2

Units 2

Listing Agency: The Brad Korb Real Estate Group b***@bradkorb.com Show Phone

Listed By: Bradley Korb · License #CA 00698730

Source: Crexi

Added: Jun 18 Changed: Aug 8 Last Checked: Aug 11 at 4:46PM

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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 The Brad Korb Real Estate Group

Investment Insights

Based on property information with market context.

This duplex offers 2,495 square feet of living space across two separate units. The downstairs unit features a formal entryway, a living room with a fireplace, two bedrooms, two bathrooms, and a dedicated laundry area. The upstairs unit provides a functional layout with three bedrooms and two bathrooms, accommodating a larger household or flexible rental use. The property sits on a 5,250 square foot lot and presents a versatile foundation for updates and improvements.

Located on a cul-de-sac at 4463 Bellflower Avenue in West Toluca Lake, this home places residents within reach of local amenities, schools, shopping, and transportation.

The unit mix makes this property well suited for an owner-occupant who wants additional rental income, or for an investor seeking to add value through renovation. With two distinct bedroom configurations—2/2 below and 3/2 above—the duplex can support multiple living arrangements while retaining a straightforward residential income structure. If you’re looking for a practical, improvement-ready duplex on a cul-de-sac, this is a strong starting point to tailor the home to your goals.

Key Highlights

• Spacious 2,495 SF duplex on a 5,250 SF lot in a cul‑de‑sac setting
• Duplex includes two separate units: downstairs 2 bed/2 bath layout plus laundry area
• Downstairs unit features a living room with a cozy fireplace

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

$43,572

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

4.36%

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%

$871,440 $871.4K

Cap Rate 7%

$622,457 $622.5K

Cap Rate 9%

$484,133 $484.1K

Market Conditions

NOI Build-Up for 2,495 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

$67.4K $27.00/SF

− Vacancy

−$5.1K −$2.05/SF

EGI

$62.2K $24.95/SF

− OpEx

−$18.7K −$7.48/SF

NOI

$43.6K $17.46/SF

Area

Los Angeles County, CA

Vacancy

7.60%

Lease Rate

$27.00 /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%

$871,440

Cap Rate 7%

$622,457

Cap Rate 9%

$484,133

Alternative Uses

Best Use

Multifamily LT 5

$622.5K

$544.7K – $726.2K (±1% cap)

NOI $43,572 @ 7.0% cap · market cap 4.36%

Second Best

Apartment 5plus

$573.5K

$501.8K – $669.1K (±1% cap)

NOI $40,147 @ 7.0% cap · market cap 4.01%

Theoretical Best

Office A

$1.34M

$1.17M – $1.56M (±1% cap)

NOI $93,507 @ 7.0% cap · market cap 9.35%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Grocery & Convenience Store Daycare Center Food Market Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

1,770

Businesses Nearby

Explore this area Business Placement

Demographics for 91602, CA

19,647

Population

10,791

Households

1.8

Avg Household Size

39

Median Age

55%

College-Educated

96%

High-School Grad

2.0 sq mi

ZIP Area

9,824

Density / Sq Mi

$97,994

Median Household Income

$61,134

Median Earnings

$2,186

Median Rent

$1,104,400

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Duplex with two separate units, including a downstairs fireplace and laundry area, on a cul-de-sac lot.

Where is this duplex located?

The property is located at 4463 Bellflower West Toluca Lake, CA.

What is the asking price?

The asking price for this property is $999,999.

What are key features of this property?

This property features: Spacious 2,495 SF duplex on a 5,250 SF lot in a cul‑de‑sac setting; Duplex includes two separate units: downstairs 2 bed/2 bath layout plus laundry area; Downstairs unit features a living room with a cozy fireplace