Five-Unit Apartment
New
For Sale
$950,000
550 W 41st Dr, Los Angeles, CA 90037
Residential Income, Los Angeles, CA
Property Size3,120 SF
Lot Size0.16 Acres
Price / SF$304.49
Days on Market4
Property Features for 550 W 41st Dr
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LARD1.5
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 2, Bedroom 5, Bedroom 4, Bathroom 1, Bathroom 3, Bathroom 5, Bathroom 2, Bathroom 4, Bedroom 1, Bedroom 6, Bedroom 3
Parking
5
Parking features
Assigned
Directions
110 Freeway, exit Martin Luther King Jr. Blvd. Head west on MLK Jr. Blvd toward W 41st Dr.
Subdivision
Downtown L.A.
Standard status
Active
APN
5019-019-022
Size
3,120 SF
Lot size
0.16 Acres
Utilities
Heating system
Natural Gas
Cooling system
Wall/Window Unit(s), Ceiling Fan(s)
Building Details
Year built
1921
Floors in Building
2
Number of units
5
Listing Agency:
Rodeo Realty- Brentwood
(310) 873-4100
Listed By:
Amber Martinez · License #01961174
(310) 402-4727
Added: Sep 17
Changed: Sep 19
Last Checked: Sep 20 at 2:06AM
MLS# 26989463
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This five-unit residential property includes a four-unit apartment building at 550 W 41st Dr and a separate single-family residence at 552 W 41st Dr. The improvements provide approximately 3,120 rentable square feet on an approximately 6,763-square-foot lot. The property was built in 1921 and is delivered fully occupied, with established rental income and assigned parking. Natural gas heating, ceiling fans, and wall/window cooling units serve the buildings. Low-maintenance landscaping and no on-site laundry are also part of the configuration.
The property is located in Los Angeles near USC, Exposition Park, BMO Stadium, the Los Angeles Memorial Coliseum, the Natural History Museum, the California Science Center, and the Lucas Museum of Narrative Art. Metro transit, Downtown Los Angeles, major freeways, shopping, dining, and entertainment are accessible from the property. Zoning is LARD1.5, and both addresses are associated with APN 5019-019-022.
The property is located in Los Angeles near USC, Exposition Park, BMO Stadium, the Los Angeles Memorial Coliseum, the Natural History Museum, the California Science Center, and the Lucas Museum of Narrative Art. Metro transit, Downtown Los Angeles, major freeways, shopping, dining, and entertainment are accessible from the property. Zoning is LARD1.5, and both addresses are associated with APN 5019-019-022.
Key Highlights
- Five total units: a four‑unit apartment building plus a separate single‑family residence
- Approximately 3,120 rentable square feet on an approximately 6,763‑square‑foot lot
- Fully occupied with established rental income
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
$46,331
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
4.88%
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%
$926,620
$926.6K
Cap Rate 7%
$661,871
$661.9K
Cap Rate 9%
$514,789
$514.8K
Market Conditions
NOI Build-Up for 3,120 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
$84.8K $27.19/SF
− Vacancy
−$594 −$0.19/SF
EGI
$84.2K $27.00/SF
− OpEx
−$37.9K −$12.15/SF
NOI
$46.3K $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%
$926,620
Cap Rate 7%
$661,871
Cap Rate 9%
$514,789
Alternative Uses
Best Use
Apartment 5plus
$661.9K
$579.1K – $772.2K
NOI $46,331 @ 7.0% cap · market cap 4.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,577 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,892
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 residential asset combining a four-unit building with a separate single-family residence.
Where is this apartment building located?
The property is located at 550 W 41st Dr Los Angeles, CA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Five total units: a four‑unit apartment building plus a separate single‑family residence; Approximately 3,120 rentable square feet on an approximately 6,763‑square‑foot lot; Fully occupied with established rental income
