4-Unit
New
For Sale
$1,150,000
811 W 40th, Los Angeles, CA 90037
LAR3-zoned residences include a mix of two- and three-bedroom layouts.
Property Size4,520 SF
Price / SF$270.59
Days on Market2
Property Features for 811 W 40th
General Information
Standard status
Active
Size
4,520 SF
Property subtype
Investment
Zoning
LAR3
Property Condition
Severity
Repairs Needed
Evidence
value-add renovation
Units
Unit Mix
2 x 3BR, 2 x 2BR
Multifamily Units
4
Additional Details
Public Transit
Yes
Building Details
Building Size
4,520 SF
Year Built
1916
Units
4
Listed By:
David Ramirez
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 2:23PM
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 David Ramirez
Investment Insights
Based on property information with market context.
Built in 1916, this Los Angeles quadplex contains 4,250 square feet across four units: two with three bedrooms and two with two bedrooms. One three-bedroom unit is vacant. The property is zoned LAR3.
The property is minutes from the University of Southern California, the LA Coliseum, and Exposition Park museums. Walk Score is 85, Bike Score is 82, and Transit Score is 66.
The property is minutes from the University of Southern California, the LA Coliseum, and Exposition Park museums. Walk Score is 85, Bike Score is 82, and Transit Score is 66.
Key Highlights
- Four‑unit configuration with two 3BR residences and two 2BR residences
- 4,250 square feet of interior space
- LAR3 zoning
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
$71,007
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
6.17%
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%
$1,420,140
$1.4M
Cap Rate 7%
$1,014,386
$1.0M
Cap Rate 9%
$788,967
$789.0K
Market Conditions
NOI Build-Up for 4,250 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
$104.0K $24.48/SF
− Vacancy
−$2.6K −$0.61/SF
EGI
$101.4K $23.87/SF
− OpEx
−$30.4K −$7.16/SF
NOI
$71.0K $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%
$1,420,140
Cap Rate 7%
$1,014,386
Cap Rate 9%
$788,967
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$887.6K – $1.18M
NOI $71,007 @ 7.0% cap · market cap 6.17%
Second Best
Apartment 5plus
$901.6K
$788.9K – $1.05M
NOI $63,112 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$1.67M
$1.46M – $1.94M
NOI $116,571 @ 7.0% cap · market cap 10.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,763
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - LAR3-zoned residences include a mix of two- and three-bedroom layouts.
Where is this quadplex located?
The property is located at 811 W 40th Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Four‑unit configuration with two 3BR residences and two 2BR residences; 4,250 square feet of interior space; LAR3 zoning
