Remodeled Four-Unit
New
For Sale
$1,499,000
611 W 46th, Los Angeles, CA 90037
Vacant, renovated residential income property with updated kitchens, bathrooms, flooring, roofing, and tankless water heaters.
Property Size4,403 SF
Lot Size0.19 Acres
Price / SF$340.45
Days on Market5
Property Features for 611 W 46th
General Information
Standard status
Active
Size
4,403 SF
Lot size
0.19 Acres
Property subtype
Quadruplex
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.
Listed By:
Matias Stofenmacher · License #01705003
(818) 464-5707
Source:
Truthrealty
Added: Sep 8
Changed: Sep 10
Last Checked: Sep 11 at 3:38PM
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.
Built in 1911, this two-story quadplex contains four 3-bedroom, 2-bathroom units totaling 4,403 square feet on an 8,101-square-foot lot. The property is vacant and has undergone extensive remodeling, including new kitchens, renovated bathrooms, new flooring, tankless water heaters, a completed roof, and recent termite tenting. It is positioned for leasing immediately following closing, subject to the buyer’s operational plans.
The property is approximately 2.5 miles from USC in the Vermont Harbor neighborhood, with Downtown Los Angeles about six miles away via the 110 freeway. The California Science Center, Exposition Park Rose Garden, and Natural History Museum of LA County are also within minutes. The site includes parking and may support up to four ADUs, subject to City approval. The property passed its most recent SCEP inspection in August 2026.
The property is approximately 2.5 miles from USC in the Vermont Harbor neighborhood, with Downtown Los Angeles about six miles away via the 110 freeway. The California Science Center, Exposition Park Rose Garden, and Natural History Museum of LA County are also within minutes. The site includes parking and may support up to four ADUs, subject to City approval. The property passed its most recent SCEP inspection in August 2026.
Key Highlights
- Four 3‑bedroom, 2‑bathroom units in a two‑story building
- 4,403 square feet of living space on an 8,101‑square‑foot lot
- Fully vacant and extensively remodeled for immediate leasing
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
4.91%
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 4.91%
Second Best
Apartment 5plus
$934.1K
$817.3K – $1.09M
NOI $65,384 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$1.73M
$1.51M – $2.01M
NOI $120,768 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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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?
Quadplex - Vacant, renovated residential income property with updated kitchens, bathrooms, flooring, roofing, and tankless water heaters.
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 $1,499,000.
What are key features of this property?
This property features: Four 3‑bedroom, 2‑bathroom units in a two‑story building; 4,403 square feet of living space on an 8,101‑square‑foot lot; Fully vacant and extensively remodeled for immediate leasing
