Remodeled Four-Unit
For Sale
$1,699,000
611 W 46th, Los Angeles, CA 90037
Vacant two-story residential property with four three-bedroom units, updated interiors, and a newly completed roof.
Property Size4,403 SF
Lot Size0.19 Acres
Price / SF$385.87
Days on Market8
Property Features for 611 W 46th
General Information
Standard status
Active
Size
4,403 SF
Lot size
0.19 Acres
Property subtype
MULTI_FAMILY
Units
Unit Mix
4 x 3BR/2BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Building Details
Building Size
4,403 SF
Year Built
1911
Buildings
1
Stories
2
Listing Agency:
Edgestone Real Estate, Inc.
(818) 464-5707
Listed By:
Matias Stofenmacher · License #01705003
Source:
Rochellemaize
Added: Aug 17
Changed: Aug 24
Last Checked: Aug 23 at 9:32AM
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 Edgestone Real Estate, Inc.
Investment Insights
Based on property information with market context.
This two-story quadplex contains four three-bedroom, two-bathroom units totaling 4,403 square feet on an 8,101-square-foot lot. The building is vacant and has undergone extensive renovations, including refreshed kitchens and bathrooms, new flooring, tankless water heaters, a completed roof, and recent termite tenting. The latest SCEP inspection was completed in August 2026.
The property is located 2.5 miles from USC in the Vermont Harbor neighborhood. Exposition Park attractions, including the California Science Center, the Exposition Park Rose Garden, and the Natural History Museum of LA County, are within minutes, while Downtown Los Angeles is six miles away via the 110 freeway.
The oversized lot provides parking and may accommodate up to four ADUs, subject to City approval. The units are delivered vacant for leasing or an owner-occupancy strategy, with the buyer able to determine the operating plan.
The property is located 2.5 miles from USC in the Vermont Harbor neighborhood. Exposition Park attractions, including the California Science Center, the Exposition Park Rose Garden, and the Natural History Museum of LA County, are within minutes, while Downtown Los Angeles is six miles away via the 110 freeway.
The oversized lot provides parking and may accommodate up to four ADUs, subject to City approval. The units are delivered vacant for leasing or an owner-occupancy strategy, with the buyer able to determine the operating plan.
Key Highlights
- Four vacant units, each configured with 3 bedrooms and 2 bathrooms
- 4,403 square feet of living space on an 8,101‑square‑foot lot
- Renovations include kitchens, bathrooms, flooring, tankless water heaters, roof, and termite tenting
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
$73,564
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
4.33%
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%
$1,471,280
$1.5M
Cap Rate 7%
$1,050,914
$1.1M
Cap Rate 9%
$817,378
$817.4K
Market Conditions
NOI Build-Up for 4,403 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
$107.8K $24.48/SF
− Vacancy
−$2.7K −$0.61/SF
EGI
$105.1K $23.87/SF
− OpEx
−$31.5K −$7.16/SF
NOI
$73.6K $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%
$1,471,280
Cap Rate 7%
$1,050,914
Cap Rate 9%
$817,378
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$919.6K – $1.23M
NOI $73,564 @ 7.0% cap · market cap 4.33%
Second Best
Apartment 5plus
$934.1K
$817.3K – $1.09M
NOI $65,384 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$1.73M
$1.51M – $2.01M
NOI $120,768 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,718
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Vacant two-story residential property with four three-bedroom units, updated interiors, and a newly completed roof.
Where is this quadplex located?
The property is located at 611 W 46th Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Four vacant units, each configured with 3 bedrooms and 2 bathrooms; 4,403 square feet of living space on an 8,101‑square‑foot lot; Renovations include kitchens, bathrooms, flooring, tankless water heaters, roof, and termite tenting
