11-Unit Apartment
For Sale
$795,000
4701 S Figueroa St, Los Angeles, CA 90037
Fully occupied multifamily asset combining adjacent buildings, separate parcels, varied unit layouts, and onsite parking.
Property Size2,911 SF
Lot Size0.37 Acres
Days on Market13
Property Features for 4701 S Figueroa St
General Information
Standard status
Active
Size
2,911 SF
Net Rentable
7,375 SF
Total Parking Spaces
13
Lot size
0.37 Acres
Property subtype
MULTI_FAMILY
Zoning
LAC2
Occupancy
100%
Financials
Asking Price
$1,995,000
Cap Rate
8.29%
Gross Rent Multiplier
8.15
Units
Unit Mix
2 x 3BD+1BA, 1 x 2BD+2BA, 2 x 2BD+1BA, 6 x 1BD+1BA
Multifamily Units
11
Building Details
Building Size
2,911 SF
Year Built
1919
Listing Agency:
Kidder Mathews of California, Inc.
(213) 225-7223
Listed By:
Casey Lins · License #01902650
Source:
Milsteinestates
Added: Aug 18
Changed: Aug 30
Last Checked: Aug 22 at 7:11AM
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 Kidder Mathews of California, Inc.
Investment Insights
Based on property information with market context.
This 11-unit apartment community combines adjacent 3-unit and 8-unit properties on two separate parcels. The improvements provide 7,375 rentable square feet across two single-story structures totaling 2,911 rentable square feet and a two-story structure containing 4,464 rentable square feet. The unit mix includes two 3BD+1BA units, one 2BD+2BA unit, two 2BD+1BA units, and six 1BD+1BA units. The property is fully occupied and includes 13 uncovered onsite parking spaces.
Located at 4701 and 4709 S Figueroa St in Los Angeles, the combined 16,218-square-foot parcel is zoned LAC2 and configured as a double corner lot. The properties are offered together, with the two buildings providing separate physical components and distinct parcel ownership. The site is also identified for future development scenarios, including up to 66 units under TOC and 80–90 units under 100% affordable ED1 development standards.
Located at 4701 and 4709 S Figueroa St in Los Angeles, the combined 16,218-square-foot parcel is zoned LAC2 and configured as a double corner lot. The properties are offered together, with the two buildings providing separate physical components and distinct parcel ownership. The site is also identified for future development scenarios, including up to 66 units under TOC and 80–90 units under 100% affordable ED1 development standards.
Key Highlights
- 11 units totaling 7,375 rentable square feet
- Unit mix includes 2 three‑bedroom, 1 two‑bedroom/two‑bath, 2 two‑bedroom, and 6 one‑bedroom units
- Fully occupied multifamily property with an 8.29% cap rate and 8.15 GRM
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
$43,228
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
5.44%
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%
$864,560
$864.6K
Cap Rate 7%
$617,543
$617.5K
Cap Rate 9%
$480,311
$480.3K
Market Conditions
NOI Build-Up for 2,911 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
$79.2K $27.19/SF
− Vacancy
−$554 −$0.19/SF
EGI
$78.6K $27.00/SF
− OpEx
−$35.4K −$12.15/SF
NOI
$43.2K $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%
$864,560
Cap Rate 7%
$617,543
Cap Rate 9%
$480,311
Alternative Uses
Best Use
Apartment 5plus
$617.5K
$540.4K – $720.5K
NOI $43,228 @ 7.0% cap · market cap 5.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$998.1K – $1.33M
NOI $79,844 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,755
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?
Apartment building - Fully occupied multifamily asset combining adjacent buildings, separate parcels, varied unit layouts, and onsite parking.
Where is this apartment building located?
The property is located at 4701 S Figueroa St Los Angeles, CA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 11 units totaling 7,375 rentable square feet; Unit mix includes 2 three‑bedroom, 1 two‑bedroom/two‑bath, 2 two‑bedroom, and 6 one‑bedroom units; Fully occupied multifamily property with an 8.29% cap rate and 8.15 GRM
