Remodeled 10-Bedroom Multifamily
For Sale
$1,250,000
4501 S Budlong Ave, Los Angeles, CA 90037
Fully updated Craftsman residence with individually leased bedrooms and modern in-unit amenities.
Property Size3,393 SF
Days on Market52
Property Features for 4501 S Budlong Ave
General Information
Standard status
Active
Size
3,393 SF
Property subtype
MULTI_FAMILY
Building Details
Building Size
3,393 SF
Year Built
1912
Listing Agency:
Keller Williams Hollywood Hills
(310) 402-8958
Listed By:
Davis Saadian · License #01921748
Source:
Milsteinestates
Added: Jun 20
Changed: Aug 9
Last Checked: Aug 9 at 2:13PM
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 Keller Williams Hollywood Hills
Investment Insights
Based on property information with market context.
This 3,393-square-foot Craftsman multifamily property was updated in 2025 and includes 10 bedrooms, 4 bathrooms, and a spacious floor plan. Interior improvements include quartz countertops, stainless steel appliances, vinyl plank flooring, and an in-unit washer and dryer. Individual mini-split systems serve each bedroom. The property occupies a 7,751-square-foot corner lot with a large backyard and a detached rear shed.
The property is located near the University of Southern California, Lucas Museum of Narrative Art, Exposition Park, Natural History Museum, California Science Center, BMO Stadium, and the LA Memorial Coliseum. Metro Expo Line access and connections to Downtown Los Angeles and major freeways are also nearby. Each bedroom is rented separately, and the existing configuration provides 10 individually leased rooms.
The property is located near the University of Southern California, Lucas Museum of Narrative Art, Exposition Park, Natural History Museum, California Science Center, BMO Stadium, and the LA Memorial Coliseum. Metro Expo Line access and connections to Downtown Los Angeles and major freeways are also nearby. Each bedroom is rented separately, and the existing configuration provides 10 individually leased rooms.
Key Highlights
- 10 bedrooms and 4 bathrooms in a 3,393‑square‑foot Craftsman property
- Updated in 2025 with quartz countertops, stainless steel appliances, and vinyl plank flooring
- 7,751‑square‑foot corner lot with a large backyard and detached rear shed
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
$50,385
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
4.03%
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%
$1,007,700
$1.0M
Cap Rate 7%
$719,786
$719.8K
Cap Rate 9%
$559,833
$559.8K
Market Conditions
NOI Build-Up for 3,393 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
$92.3K $27.19/SF
− Vacancy
−$646 −$0.19/SF
EGI
$91.6K $27.00/SF
− OpEx
−$41.2K −$12.15/SF
NOI
$50.4K $14.85/SF
Area
ZIP 90037
Vacancy
0.70%
Lease Rate
$27.19 /SF/Yr
Expense Ratio
45.00%
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%
$1,007,700
Cap Rate 7%
$719,786
Cap Rate 9%
$559,833
Alternative Uses
Best Use
Apartment 5plus
$719.8K
$629.8K – $839.8K
NOI $50,385 @ 7.0% cap · market cap 4.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $93,065 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,186
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?
Multifamily property - Fully updated Craftsman residence with individually leased bedrooms and modern in-unit amenities.
Where is this multifamily property located?
The property is located at 4501 S Budlong Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 10 bedrooms and 4 bathrooms in a 3,393‑square‑foot Craftsman property; Updated in 2025 with quartz countertops, stainless steel appliances, and vinyl plank flooring; 7,751‑square‑foot corner lot with a large backyard and detached rear shed
