10-Unit Courtyard Apartment
For Sale
$1,495,000
536 W 48th St, Los Angeles, CA 90037
Gated courtyard property with renovated residences, separate tenant utility metering, and access from both the front and rear.
Property Size4,592 SF
Days on Market51
Property Features for 536 W 48th St
General Information
Standard status
Active
Size
4,592 SF
Property subtype
MULTI_FAMILY
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
8 x 1BR/1BA, 2 x studio
Multifamily Units
10
Additional Details
Cap Rate
6.6%
Amenities
gated courtyard
Building Details
Building Size
4,592 SF
Year Built
1925
Construction
Spanish-style
Listing Agency:
Equity Union
Listed By:
Joshua Yeager · License #01979446
(818) 741-8010
Source:
Milsteinestates
Added: Sep 1
Changed: Oct 20
Last Checked: Oct 21 at 5:58AM
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 Equity Union
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Investment Insights
Based on property information with market context.
Built in 1925, this 10-unit apartment property combines a Spanish-style courtyard layout with eight one-bedroom, one-bath residences and two studios. Seven units have been renovated, while improvements to the overall asset include a new roof, copper plumbing, and refreshed exterior paint. Gas and electricity are separately metered to tenants, and trash service is provided by the city. Each residence offers access from both the front and rear within the gated courtyard setting.
The property is located at 536 W 48th St in Los Angeles, near USC, Exposition Park, BMO Stadium, the LA Memorial Coliseum, and the California Science Center. Major retail corridors and the 110 Freeway are also nearby. Reported in-place performance includes a 6.6% cap rate, with estimated rents approximately 22% below market.
The property is located at 536 W 48th St in Los Angeles, near USC, Exposition Park, BMO Stadium, the LA Memorial Coliseum, and the California Science Center. Major retail corridors and the 110 Freeway are also nearby. Reported in-place performance includes a 6.6% cap rate, with estimated rents approximately 22% below market.
Key Highlights
- 10‑unit apartment property with 8 one‑bedroom/one‑bath units and 2 studios
- Seven of 10 residences have been renovated
- New roof, copper plumbing throughout, and fresh exterior paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,190
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,363,800
$1.4M
Cap Rate 7%
$974,143
$974.1K
Cap Rate 9%
$757,667
$757.7K
Market Conditions
NOI Build-Up for 4,592 SF
Gross rent
$124.9K $27.19/SF
− Vacancy
−$874 −$0.19/SF
EGI
$124.0K $27.00/SF
− OpEx
−$55.8K −$12.15/SF
NOI
$68.2K $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 Rate 5%
$1,363,800
Cap Rate 7%
$974,143
Cap Rate 9%
$757,667
Alternative Uses
Best Use
Apartment 5plus
$974.1K
$852.4K – $1.14M
NOI $68,190 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.80M
$1.57M – $2.10M
NOI $125,952 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
10
Residential units
Yes
Highway access
Yes
Utilities to site
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Gated courtyard property with renovated residences, separate tenant utility metering, and access from both the front and rear.
Where is this apartment building located?
The property is located at 536 W 48th St Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 10‑unit apartment property with 8 one‑bedroom/one‑bath units and 2 studios; Seven of 10 residences have been renovated; New roof, copper plumbing throughout, and fresh exterior paint
