Fourplex with Covered
For Sale
$898,000
5116 S Budlong AVE, Los Angeles, CA 90037
Four-unit residential property with individual laundry hookups and a two-bedroom upstairs unit expected to be vacant.
Property Size3,632 SF
Days on Market181
Property Features for 5116 S Budlong AVE
General Information
Standard status
Active
Size
3,632 SF
Total Parking Spaces
2
Property subtype
MULTI_FAMILY
Units
Unit Mix
1 x 2BR/1BA, 3 x 1BR/1BA
Multifamily Units
4
Building Details
Building Size
3,632 SF
Year Built
1927
Buildings
1
Tenancy
Multi
Listing Agency:
Luxury Collective
(424) 395-4841
Listed By:
Jessica Altinoglu · License #02159983
Source:
Milsteinestates
Added: Mar 2
Changed: Aug 30
Last Checked: Aug 11 at 8:46AM
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 Luxury Collective
Investment Insights
Based on property information with market context.
This 1927-built quadplex contains four residential units, including an upstairs two-bedroom, one-bath unit with a dining area and large living room. The three downstairs units each offer one bedroom and one bathroom, with individual laundry hookups provided. The upstairs unit is expected to be vacant, while the other units are occupied on a month-to-month basis.
Two covered parking spaces are available for residents. The property is located on S Budlong Avenue in Los Angeles, California.
Two covered parking spaces are available for residents. The property is located on S Budlong Avenue in Los Angeles, California.
Key Highlights
- Four residential units in a quadplex configuration
- 1927 construction year
- Upstairs 2‑bedroom, 1‑bath unit with dining area and large living room
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
$60,682
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
6.76%
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%
$1,213,640
$1.2M
Cap Rate 7%
$866,886
$866.9K
Cap Rate 9%
$674,244
$674.2K
Market Conditions
NOI Build-Up for 3,632 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
$88.9K $24.48/SF
− Vacancy
−$2.2K −$0.61/SF
EGI
$86.7K $23.87/SF
− OpEx
−$26.0K −$7.16/SF
NOI
$60.7K $16.71/SF
Area
ZIP 90037
Vacancy
2.50%
Lease Rate
$24.48 /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%
$1,213,640
Cap Rate 7%
$866,886
Cap Rate 9%
$674,244
Alternative Uses
Best Use
Multifamily LT 5
$866.9K
$758.5K – $1.01M
NOI $60,682 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$770.5K
$674.2K – $898.9K
NOI $53,935 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$1.42M
$1.25M – $1.66M
NOI $99,620 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,501
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential property with individual laundry hookups and a two-bedroom upstairs unit expected to be vacant.
Where is this quadplex located?
The property is located at 5116 S Budlong AVE Los Angeles, CA.
What is the asking price?
The asking price for this property is $898,000.
What are key features of this property?
This property features: Four residential units in a quadplex configuration; 1927 construction year; Upstairs 2‑bedroom, 1‑bath unit with dining area and large living room
