Three-Unit Residential Income
For Sale
$699,000
5964 S Figueroa St, Los Angeles, CA 90003
For sale three-unit single-level income property with multiple bedrooms, one remodeled unit, and accessible ramp features.
Property Size2,240 SF
Days on Market185
Property Features for 5964 S Figueroa St
General Information
Standard status
Active
Size
2,240 SF
Property subtype
MULTI_FAMILY
Additional Details
Cap Rate
6.2%
Multifamily Units
3
Amenities
handicapped ramp
back yard
Building Details
Building Size
2,240 SF
Year Built
1901
Stories
1
Tenancy
Multi
Listing Agency:
Exclusive Realty Inc
Listed By:
Ifrah Khoubian · License #01961974
(310) 717-9111
Source:
Milsteinestates
Added: Mar 6
Changed: Aug 8
Last Checked: Jul 31 at 11:18AM
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 Exclusive Realty Inc
Investment Insights
Based on property information with market context.
This three-unit residential income property offers single-level living across three units with a total of six bedrooms. One unit has been totally remodeled, and two units include handicapped ramp features. The property also provides a convenient usable back yard. Current occupancy is in place, with the added opportunity of one vacancy for owner occupancy, subject to inspection.
The property is located at 5964 S Figueroa St in Los Angeles, CA 90003. The seller notes the home is close to Downtown LA, the Coliseum, USC, and major transportation routes.
For investors and owner-occupants, the current mix of occupied units and the potential vacancy presents a straightforward way to pursue income while having the option for an owner-occupied arrangement, pending inside inspection.
The property is located at 5964 S Figueroa St in Los Angeles, CA 90003. The seller notes the home is close to Downtown LA, the Coliseum, USC, and major transportation routes.
For investors and owner-occupants, the current mix of occupied units and the potential vacancy presents a straightforward way to pursue income while having the option for an owner-occupied arrangement, pending inside inspection.
Key Highlights
- 3‑unit single‑level income property built in 1901 with a CAP rate of over 6.2%
- Total of 6 bedrooms across the 3 units
- One unit is totally remodeled
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
$50,709
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
7.25%
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%
$1,014,180
$1.0M
Cap Rate 7%
$724,414
$724.4K
Cap Rate 9%
$563,433
$563.4K
Market Conditions
NOI Build-Up for 2,240 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
$73.9K $33.00/SF
− Vacancy
−$1.5K −$0.66/SF
EGI
$72.4K $32.34/SF
− OpEx
−$21.7K −$9.70/SF
NOI
$50.7K $22.64/SF
Area
ZIP 90003
Vacancy
2.00%
Lease Rate
$33.00 /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%
$1,014,180
Cap Rate 7%
$724,414
Cap Rate 9%
$563,433
Alternative Uses
Best Use
Apartment 5plus
$39.60M
$34.65M – $46.20M
NOI $2,772,121 @ 7.0% cap · market cap 396.58%
Second Best
Multifamily LT 5
$724.4K
$633.9K – $845.2K
NOI $50,709 @ 7.0% cap · market cap 7.25%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,747
Businesses Nearby
Explore this area
Business Placement
Demographics for 90003, CA
72,764
Population
18,349
Households
4
Avg Household Size
30
Median Age
7%
College-Educated
53%
High-School Grad
3.6 sq mi
ZIP Area
20,212
Density / Sq Mi
$54,781
Median Household Income
$30,132
Median Earnings
$1,515
Median Rent
$547,600
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?
Triplex - For sale three-unit single-level income property with multiple bedrooms, one remodeled unit, and accessible ramp features.
Where is this triplex located?
The property is located at 5964 S Figueroa St Los Angeles, CA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 3‑unit single‑level income property built in 1901 with a CAP rate of over 6.2%; Total of 6 bedrooms across the 3 units; One unit is totally remodeled
