Remodeled Four-Unit
New
For Sale
$1,499,000
611 W 46th, Los Angeles, CA 90037
Los Angeles, CA
Property Size4,403 SF
Lot Size0.19 Acres
Price / SF$340.45
Days on Market1
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 1, Bathroom 6, Bedroom 5, Bedroom 4, Bedroom 11, Bedroom 7, Bathroom 8, Bathroom 2, Bedroom 6, Bedroom 9, Bathroom 5, Bathroom 4, Bedroom 3, Bathroom 7, Bedroom 8, Bedroom 12, Bedroom 1, Bedroom 10, Bathroom 3, Bedroom 2
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: Sep 8
Last Checked: Sep 8 at 7:06PM
MLS# PW26196218
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 three-bedroom, two-bathroom residences and is being offered vacant following extensive remodeling. Improvements include updated kitchens and bathrooms, new flooring, tankless water heaters, a completed roof, and recent termite tenting. The property was built in 1911 and has wall-furnace heating, public water, public sewer, driveway parking, and assigned parking. Its 8,101-square-foot lot also offers potential for up to four ADUs, subject to City approval.
The property is located at 611 W 46th in Los Angeles, approximately 2.5 miles from USC and six miles from Downtown Los Angeles via the 110 freeway. The California Science Center, Exposition Park Rose Garden, and Natural History Museum of LA County are within minutes. A recent SCEP inspection was passed in August 2026, with no reinspection required for several years.
The property is located at 611 W 46th in Los Angeles, approximately 2.5 miles from USC and six miles from Downtown Los Angeles via the 110 freeway. The California Science Center, Exposition Park Rose Garden, and Natural History Museum of LA County are within minutes. A recent SCEP inspection was passed in August 2026, with no reinspection required for several years.
Key Highlights
- Four vacant 3‑bedroom, 2‑bathroom units
- 8,101‑square‑foot lot with potential for up to four ADUs, subject to City approval
- Extensive remodeling includes kitchens, bathrooms, flooring, tankless water heaters, and roof
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
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 - Two-story residential property with four three-bedroom units, extensive upgrades, assigned parking, and public utilities.
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 vacant 3‑bedroom, 2‑bathroom units; 8,101‑square‑foot lot with potential for up to four ADUs, subject to City approval; Extensive remodeling includes kitchens, bathrooms, flooring, tankless water heaters, and roof
