Remodeled Triplex with
For Sale
$1,199,999
845 W 56th Street, Los Angeles, CA 90037
Fully remodeled triplex with updated kitchens, bathrooms, windows, roof, HVAC, and permitted ADU conversion.
Property Size2,456 SF
Days on Market76
Property Features for 845 W 56th Street
General Information
Standard status
Active
Size
2,456 SF
Total Parking Spaces
6
Property subtype
Triplex
Zoning
LAR2
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Building Size
2,456 SF
Year Built
1924
Year Renovated
2024
Tenancy
Multi
Listing Agency:
LPT Realty, Inc
Listed By:
Rosmery Pena · License #02062090
Source:
Archetyperealty
Added: Jun 23
Changed: Aug 23
Last Checked: Sep 5 at 6:18AM
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 LPT Realty, Inc
Investment Insights
Based on property information with market context.
This fully remodeled triplex features a spacious front residence and two rear units, each updated with modern finishes. Improvements include remodeled kitchens and bathrooms, updated flooring, recessed lighting, dual-pane windows, and HVAC improvements, along with a new roof. The front residence is designed with an open-concept layout and vaulted ceilings, and the property also includes a permitted ADU conversion. Separate living areas support flexible use across the three units.
The property provides six on-site parking spaces and is zoned LAR2. Convenient access is described to USC, Exposition Park, Downtown Los Angeles, major freeways, shopping, dining, and employment centers.
As configured, the asset offers a renovated, turn-key setup for rental income across the front and rear units, with additional flexibility provided by the permitted ADU conversion.
The property provides six on-site parking spaces and is zoned LAR2. Convenient access is described to USC, Exposition Park, Downtown Los Angeles, major freeways, shopping, dining, and employment centers.
As configured, the asset offers a renovated, turn-key setup for rental income across the front and rear units, with additional flexibility provided by the permitted ADU conversion.
Key Highlights
- Fully remodeled triplex (built 1924) with extensive permitted improvements completed in 2024
- Upgrades include remodeled kitchens and bathrooms, updated flooring, recessed lighting, and dual‑pane windows
- New roof and HVAC improvements throughout
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
$41,034
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
3.42%
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%
$820,680
$820.7K
Cap Rate 7%
$586,200
$586.2K
Cap Rate 9%
$455,933
$455.9K
Market Conditions
NOI Build-Up for 2,456 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
$60.1K $24.48/SF
− Vacancy
−$1.5K −$0.61/SF
EGI
$58.6K $23.87/SF
− OpEx
−$17.6K −$7.16/SF
NOI
$41.0K $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%
$820,680
Cap Rate 7%
$586,200
Cap Rate 9%
$455,933
Alternative Uses
Best Use
Multifamily LT 5
$586.2K
$512.9K – $683.9K
NOI $41,034 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$521.0K
$455.9K – $607.9K
NOI $36,471 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$962.4K
$842.1K – $1.12M
NOI $67,365 @ 7.0% cap · market cap 5.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,586
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?
Triplex - Fully remodeled triplex with updated kitchens, bathrooms, windows, roof, HVAC, and permitted ADU conversion.
Where is this triplex located?
The property is located at 845 W 56th Street Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,199,999.
What are key features of this property?
This property features: Fully remodeled triplex (built 1924) with extensive permitted improvements completed in 2024; Upgrades include remodeled kitchens and bathrooms, updated flooring, recessed lighting, and dual‑pane windows; New roof and HVAC improvements throughout
