Remodeled Four-Unit
For Sale
$1,699,000
611 W 46th, Los Angeles, CA 90037
Los Angeles, CA
Property Size4,403 SF
Lot Size0.19 Acres
Price / SF$385.87
Days on Market9
Property Features for 611 W 46th
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
12
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 6, Bathroom 1, Bedroom 5, Bedroom 2, Bathroom 3, Bathroom 5, Bedroom 9, Bedroom 8, Bedroom 12, Bathroom 2, Bathroom 4, Bathroom 7, Bedroom 11, Bedroom 10, Bathroom 8, Bedroom 1, Bedroom 4, Bedroom 7, Bedroom 3, Bedroom 6
Parking
12
Parking features
Driveway, Assigned
Lot features
Level with Street
Directions
W 46th St between S Hoover St and S Figueroa St
Subdivision
C34 - Los Angeles Southwest
Standard status
Active
APN
5018031015
Lot size
0.19 Acres
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Water source
Public
Building Details
Year built
1911
Floors in Building
2
Number of units
4
Listing Agency:
Edgestone Real Estate, Inc.
(213) 273-4845
Listed By:
Matias Stofenmacher · License #01705003
(818) 464-5707
Added: Aug 17
Changed: Aug 24
Last Checked: Aug 25 at 6:06AM
MLS# PW26179974
Copyright © 2026 California Regional Multiple Listing Service, Inc. 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 two-story quadplex contains four vacant three-bedroom, two-bathroom residences in a fully remodeled configuration. Improvements include refreshed kitchens and bathrooms, new flooring, tankless water heaters, a recently completed roof, and completed termite tenting. Wall-furnace heating, public water, public sewer, assigned parking, and a driveway are also in place.
The property occupies a 0.186-acre lot approximately 2.5 miles from USC, with Exposition Park attractions and Downtown Los Angeles accessible from the surrounding area. The building dates to 1911 and passed its most recent SCEP inspection in August 2026. The lot may support up to four ADUs, subject to City approval.
The property occupies a 0.186-acre lot approximately 2.5 miles from USC, with Exposition Park attractions and Downtown Los Angeles accessible from the surrounding area. The building dates to 1911 and passed its most recent SCEP inspection in August 2026. The lot may support up to four ADUs, subject to City approval.
Key Highlights
- Four‑unit, two‑story quadplex with four 3‑bedroom, 2‑bathroom residences
- Fully vacant and remodeled, with kitchens, bathrooms, flooring, and tankless water heaters updated
- 0.186‑acre lot with assigned parking and driveway
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, updated residential income property with four lease-ready units and assigned parking near USC.
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‑unit, two‑story quadplex with four 3‑bedroom, 2‑bathroom residences; Fully vacant and remodeled, with kitchens, bathrooms, flooring, and tankless water heaters updated; 0.186‑acre lot with assigned parking and driveway
