Duplex Property with Permitted
New
For Sale
$897,888
649 S Vancouver AVE, Los Angeles, CA 90022
Includes a permitted junior ADU and a second permitted ADU prepared for future construction.
Property Size1,646 SF
Days on Market6
Property Features for 649 S Vancouver AVE
General Information
Standard status
Active
Size
1,646 SF
Property subtype
MULTI_FAMILY
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
fenced and gated
Building Details
Building Size
1,646 SF
Year Built
1927
Listing Agency:
Realty Network
Listed By:
Valerie Vihlen Schluter · License #00753164
Source:
Milsteinestates
Added: Aug 31
Changed: Sep 4
Last Checked: Sep 4 at 2:49PM
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 Realty Network
Investment Insights
Based on property information with market context.
This duplex property includes a 2-bedroom, 1-bath main house and a permitted junior ADU with 1 bedroom and 1 bath. A separate 400-square-foot ADU is also fully permitted and ready to be built, expanding the property’s residential configuration. The improvements date to 1927 and the site is enclosed by fencing and gates.
Located at 649 S Vancouver AVE in Los Angeles, the property is in East LA near Garfield High School. Schools, shops, restaurants, and freeway access are identified in the surrounding area, providing access to everyday services and transportation routes.
Located at 649 S Vancouver AVE in Los Angeles, the property is in East LA near Garfield High School. Schools, shops, restaurants, and freeway access are identified in the surrounding area, providing access to everyday services and transportation routes.
Key Highlights
- 2‑bedroom, 1‑bath main house
- Permitted junior ADU with 1 bedroom and 1 bath
- Fully permitted 400‑square‑foot ADU ready to be built
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
$37,746
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
4.20%
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%
$754,920
$754.9K
Cap Rate 7%
$539,229
$539.2K
Cap Rate 9%
$419,400
$419.4K
Market Conditions
NOI Build-Up for 1,646 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
$55.3K $33.60/SF
− Vacancy
−$1.4K −$0.84/SF
EGI
$53.9K $32.76/SF
− OpEx
−$16.2K −$9.83/SF
NOI
$37.7K $22.93/SF
Area
ZIP 90022
Vacancy
2.50%
Lease Rate
$33.60 /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%
$754,920
Cap Rate 7%
$539,229
Cap Rate 9%
$419,400
Alternative Uses
Best Use
Multifamily LT 5
$539.2K
$471.8K – $629.1K
NOI $37,746 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$491.6K
$430.2K – $573.5K
NOI $34,412 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$670.6K
$586.8K – $782.4K
NOI $46,945 @ 7.0% cap · market cap 5.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,265
Businesses Nearby
Explore this area
Business Placement
Demographics for 90022, CA
64,517
Population
17,845
Households
3.6
Avg Household Size
34
Median Age
10%
College-Educated
56%
High-School Grad
4.4 sq mi
ZIP Area
14,663
Density / Sq Mi
$67,829
Median Household Income
$32,304
Median Earnings
$1,407
Median Rent
$603,500
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?
Duplex - Includes a permitted junior ADU and a second permitted ADU prepared for future construction.
Where is this duplex located?
The property is located at 649 S Vancouver AVE Los Angeles, CA.
What is the asking price?
The asking price for this property is $897,888.
What are key features of this property?
This property features: 2‑bedroom, 1‑bath main house; Permitted junior ADU with 1 bedroom and 1 bath; Fully permitted 400‑square‑foot ADU ready to be built
