Three-Unit Triplex Needing
New
For Sale
$649,000
731 Hendricks, Los Angeles, CA 90022
As-is residential property in East Los Angeles with renovation needs and convenient access to walking, transit, and bicycling.
Property Size1,908 SF
Days on Market2
Property Features for 731 Hendricks
General Information
Standard status
Active
Size
1,908 SF
Property subtype
Investment
Property Condition
Severity
Minor
Evidence
The Property Needs Work
Additional Details
Multifamily Units
3
Building Details
Building Size
1,908 SF
Year Built
1929
Units
3
Listing Agency:
(562) 217-5353
Listed By:
Frank Gutierrez · License #01129881
(562) 217-5353
Source:
Elliman
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 16 at 3:01AM
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 Frank Gutierrez
Investment Insights
Based on property information with market context.
This three-unit triplex in East Los Angeles is being offered in its current as-is condition and requires work. Built in 1929, the property presents a renovation project for a buyer prepared to address the existing improvements and reposition the asset. The unit count provides a defined multifamily configuration, while the property’s condition should be evaluated as part of the acquisition process.
Located at 731 Hendricks in Los Angeles, the property borders Montebello. Walk Score is 84, indicating a very walkable setting; Transit Score is 59, reflecting good transit access; and Bike Score is 55, classified as bikeable. These accessibility measures provide useful context for the surrounding area and its connection to everyday transportation options.
Located at 731 Hendricks in Los Angeles, the property borders Montebello. Walk Score is 84, indicating a very walkable setting; Transit Score is 59, reflecting good transit access; and Bike Score is 55, classified as bikeable. These accessibility measures provide useful context for the surrounding area and its connection to everyday transportation options.
Key Highlights
- Three‑unit multifamily property
- Built in 1929
- Offered as‑is and requires renovation work
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
$43,754
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
6.74%
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%
$875,080
$875.1K
Cap Rate 7%
$625,057
$625.1K
Cap Rate 9%
$486,156
$486.2K
Market Conditions
NOI Build-Up for 1,908 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
$64.1K $33.60/SF
− Vacancy
−$1.6K −$0.84/SF
EGI
$62.5K $32.76/SF
− OpEx
−$18.8K −$9.83/SF
NOI
$43.8K $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%
$875,080
Cap Rate 7%
$625,057
Cap Rate 9%
$486,156
Alternative Uses
Best Use
Multifamily LT 5
$625.1K
$546.9K – $729.2K
NOI $43,754 @ 7.0% cap · market cap 6.74%
Second Best
Apartment 5plus
$569.9K
$498.6K – $664.8K
NOI $39,890 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$777.4K
$680.2K – $907.0K
NOI $54,417 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,272
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?
Triplex - As-is residential property in East Los Angeles with renovation needs and convenient access to walking, transit, and bicycling.
Where is this triplex located?
The property is located at 731 Hendricks Los Angeles, CA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Three‑unit multifamily property; Built in 1929; Offered as‑is and requires renovation work
