5-Unit Apartment
For Sale
$1,475,000
474 S Eastern Ave, Los Angeles, CA 90022
Renovated in 2020 and fully occupied, the property includes three month-to-month units.
Property Size3,433 SF
Price / SF$429.65
Days on Market147
Property Features for 474 S Eastern Ave
General Information
Standard status
Active
Size
3,433 SF
Property subtype
MULTI_FAMILY
Zoning
LCR4YY
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Asking Price
$1,475,000
Multifamily Units
5
Building Details
Building Size
3,433 SF
Year Built
1923
Year Renovated
2020
Listing Agency:
Exp Commercial of California, Inc.
(818) 433-0548
Listed By:
Karl Markarian · License #01932970
Source:
Milsteinestates
Added: Apr 7
Changed: Aug 30
Last Checked: Jul 20 at 9:31PM
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 Exp Commercial of California, Inc.
Investment Insights
Based on property information with market context.
This apartment property contains five units within a 3,433-square-foot building. Originally built in 1921, it underwent renovation in 2020 and is currently 100% occupied. Three units are on month-to-month arrangements, providing a varied lease profile within the property.
The asset is in East Los Angeles, with access to the 5, 10, and 60 freeways. Nearby context includes East Los Angeles College, Cal State LA, the Metro Gold Line, retail, healthcare facilities, and educational institutions. The property is zoned LCR4YY.
The asset is in East Los Angeles, with access to the 5, 10, and 60 freeways. Nearby context includes East Los Angeles College, Cal State LA, the Metro Gold Line, retail, healthcare facilities, and educational institutions. The property is zoned LCR4YY.
Key Highlights
- Five‑unit apartment property with 3,433 SF of building area
- Built in 1921 and renovated in 2020
- 100% occupancy
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
$71,772
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
4.87%
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%
$1,435,440
$1.4M
Cap Rate 7%
$1,025,314
$1.0M
Cap Rate 9%
$797,467
$797.5K
Market Conditions
NOI Build-Up for 3,433 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
$131.4K $38.28/SF
− Vacancy
−$920 −$0.27/SF
EGI
$130.5K $38.01/SF
− OpEx
−$58.7K −$17.11/SF
NOI
$71.8K $20.91/SF
Area
ZIP 90022
Vacancy
0.70%
Lease Rate
$38.28 /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%
$1,435,440
Cap Rate 7%
$1,025,314
Cap Rate 9%
$797,467
Alternative Uses
Best Use
Apartment 5plus
$1.03M
$897.2K – $1.20M
NOI $71,772 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,911 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,120
Businesses Nearby
Explore this area
Business Placement
Demographics for 90022, CA
64,517
Population
17,845
Households
3.6
Avg Household Size
34
Median Age
10%
College-Educated
56%
High-School Grad
4.4 sq mi
ZIP Area
14,663
Density / Sq Mi
$67,829
Median Household Income
$32,304
Median Earnings
$1,407
Median Rent
$603,500
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 - Renovated in 2020 and fully occupied, the property includes three month-to-month units.
Where is this apartment building located?
The property is located at 474 S Eastern Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Five‑unit apartment property with 3,433 SF of building area; Built in 1921 and renovated in 2020; 100% occupancy
