Triplex with On-Site
For Sale
$1,600,000
602 W 40th Pl, Los Angeles, CA 90037
Three-unit residential property with a two-level front residence and a newer rear unit.
Property Size3,692 SF
Days on Market132
Property Features for 602 W 40th Pl
General Information
Standard status
Active
Size
3,692 SF
Total Parking Spaces
8
Property subtype
MULTI_FAMILY
Units
Unit Mix
1 x front unit: 6BR/3BA, 1 x rear unit: 4BR/2BA
Multifamily Units
3
Building Details
Building Size
3,692 SF
Year Built
1908
Listing Agency:
Keller Williams Realty A.V.
(818) 431-1465
Listed By:
Julio Villatoro · License #02015957
Source:
Jademillsestates
Added: Apr 23
Changed: Aug 31
Last Checked: Aug 30 at 11:44PM
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 Keller Williams Realty A.V.
Investment Insights
Based on property information with market context.
This triplex includes a two-level front residence with 6 bedrooms and 3 bathrooms, along with a rear residence completed in 2005 that provides 4 bedrooms and 2 bathrooms. On-site parking accommodates up to 8 vehicles. The property was originally built in 1908.
The asset is located at 602 W 40th Pl in Los Angeles, near BMO Stadium and the University of Southern California. The Los Angeles Memorial Coliseum and Natural History Museum of Los Angeles County are also nearby.
The asset is located at 602 W 40th Pl in Los Angeles, near BMO Stadium and the University of Southern California. The Los Angeles Memorial Coliseum and Natural History Museum of Los Angeles County are also nearby.
Key Highlights
- Triplex with a two‑level front residence
- Front residence includes 6 bedrooms and 3 bathrooms
- Rear residence completed in 2005 with 4 bedrooms and 2 bathrooms
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
$61,684
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
3.86%
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%
$1,233,680
$1.2M
Cap Rate 7%
$881,200
$881.2K
Cap Rate 9%
$685,378
$685.4K
Market Conditions
NOI Build-Up for 3,692 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
$90.4K $24.48/SF
− Vacancy
−$2.3K −$0.61/SF
EGI
$88.1K $23.87/SF
− OpEx
−$26.4K −$7.16/SF
NOI
$61.7K $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%
$1,233,680
Cap Rate 7%
$881,200
Cap Rate 9%
$685,378
Alternative Uses
Best Use
Multifamily LT 5
$881.2K
$771.1K – $1.03M
NOI $61,684 @ 7.0% cap · market cap 3.86%
Second Best
Apartment 5plus
$783.2K
$685.3K – $913.8K
NOI $54,826 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,266 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,034
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?
Triplex - Three-unit residential property with a two-level front residence and a newer rear unit.
Where is this triplex located?
The property is located at 602 W 40th Pl Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Triplex with a two‑level front residence; Front residence includes 6 bedrooms and 3 bathrooms; Rear residence completed in 2005 with 4 bedrooms and 2 bathrooms
