Triplex with On-Site
For Sale
$1,600,000
602 W 40th Place, Los Angeles, CA 90037
Residential Income, Los Angeles, CA
Property Size3,692 SF
Lot Size0.16 Acres
Price / SF$433.37
Days on Market144
Property Features for 602 W 40th Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Lard1 5
Bedrooms
10
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 5, Bedroom 10, Bedroom 1, Bedroom 9, Bathroom 3, Bathroom 4, Bedroom 8, Bathroom 1, Bedroom 4, Bedroom 7, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 6, Bathroom 5
Directions
Take the I-110S/CA-110 N exit. Merge onto I-110 S. Take exit 20A for Martin Luther King Jr. Blvd toward Coliseum. Turn right onto Martin Luthern King Jr Blvd, turn left onto S Figueroa St. Turn right onto W 40th Pl.
Subdivision
97 - Out of Area South
Standard status
Active
APN
5019-023-004
Size
3,692 SF
Lot size
0.16 Acres
Building Details
Year built
1908
Number of units
3
Building materials
Stucco, Wood Siding, Shingle Siding
Listing Agency:
Luxury Collective
(424) 395-4841
Listed By:
Julio Villatoro · License #02015957
(818) 431-1465
Added: Apr 23
Changed: Sep 12
Last Checked: Sep 13 at 2:06PM
MLS# 26003295
Copyright © 2026 Greater Antelope Valley Association of Realtors. 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 triplex contains 3,692 square feet on a 0.16-acre lot. The front residence spans two levels and includes 6 bedrooms and 3 bathrooms. A rear residence built in 2005 provides 4 bedrooms and 2 bathrooms, creating a varied residential configuration within the property. Construction materials include stucco, wood siding, and shingle siding. The property was originally built in 1908.
On-site parking accommodates up to 8 vehicles. The property is located at 602 W 40th Place in Los Angeles, near BMO Stadium and the University of Southern California. Los Angeles Memorial Coliseum and the Natural History Museum of Los Angeles County are also identified in the surrounding area.
On-site parking accommodates up to 8 vehicles. The property is located at 602 W 40th Place in Los Angeles, near BMO Stadium and the University of Southern California. Los Angeles Memorial Coliseum and the Natural History Museum of Los Angeles County are also identified in the surrounding area.
Key Highlights
- Triplex with 3,692 square feet on a 0.16‑acre lot
- Front residence offers 6 bedrooms and 3 bathrooms across two levels
- Rear residence built in 2005 includes 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
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with a two-level front residence and substantial on-site vehicle parking.
Where is this triplex located?
The property is located at 602 W 40th Place 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 3,692 square feet on a 0.16‑acre lot; Front residence offers 6 bedrooms and 3 bathrooms across two levels; Rear residence built in 2005 includes 4 bedrooms and 2 bathrooms
