Fourplex with ADU Under
For Sale
$999,000
9230 S Figueroa, Los Angeles, CA 90003
1957 income property on a LARD2 lot with an additional dwelling unit nearing final inspection.
Property Size3,792 SF
Lot Size0.13 Acres
Days on Market48
Property Features for 9230 S Figueroa
General Information
Standard status
Active
Size
3,792 SF
Lot size
0.13 Acres
Property subtype
Quadruplex
Zoning
LARD2
Financials
Asking Price
$999,000
Gross Income
$84,012
Additional Details
Highway Access
Yes
Multifamily Units
4
Building Details
Building Size
3,792 SF
Year Built
1957
Listing Agency:
Equity Union
Listed By:
Trey Beltran · License #02112359
Source:
Archetyperealty
Added: Jun 24
Changed: Aug 9
Last Checked: Aug 9 at 1:50PM
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 Equity Union
Investment Insights
Based on property information with market context.
This 1957-built quadplex sits on a 5,548 SF LARD2 lot and includes four existing units. An additional 1BD/1BA dwelling unit is under construction and in the final inspection phase. The property also includes two long-tenured RSO units, including one Section 8 placement, while two other units are scheduled to vacate in July and October.
The address is near the 110 and 105 Freeways, USC, Exposition Park, and the SoFi/Inglewood growth corridor. Existing operations include owner-paid utilities, with utility bill-back identified as a potential operating adjustment. The property is offered for sale with unit, permit, rent, RSO, and square-footage details subject to buyer verification.
The address is near the 110 and 105 Freeways, USC, Exposition Park, and the SoFi/Inglewood growth corridor. Existing operations include owner-paid utilities, with utility bill-back identified as a potential operating adjustment. The property is offered for sale with unit, permit, rent, RSO, and square-footage details subject to buyer verification.
Key Highlights
- Fourplex built in 1957 on a 5,548 SF LARD2 lot
- Additional 1BD/1BA unit under construction and in final inspection phase
- Two long‑tenured RSO units, including one Section 8 placement
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
$85,843
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
8.59%
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%
$1,716,860
$1.7M
Cap Rate 7%
$1,226,329
$1.2M
Cap Rate 9%
$953,811
$953.8K
Market Conditions
NOI Build-Up for 3,792 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
$125.1K $33.00/SF
− Vacancy
−$2.5K −$0.66/SF
EGI
$122.6K $32.34/SF
− OpEx
−$36.8K −$9.70/SF
NOI
$85.8K $22.64/SF
Area
ZIP 90003
Vacancy
2.00%
Lease Rate
$33.00 /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%
$1,716,860
Cap Rate 7%
$1,226,329
Cap Rate 9%
$953,811
Alternative Uses
Best Use
Apartment 5plus
$67.04M
$58.66M – $78.21M
NOI $4,692,805 @ 7.0% cap · market cap 469.75%
Second Best
Multifamily LT 5
$1.23M
$1.07M – $1.43M
NOI $85,843 @ 7.0% cap · market cap 8.59%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,747
Businesses Nearby
Explore this area
Business Placement
Demographics for 90003, CA
72,764
Population
18,349
Households
4
Avg Household Size
30
Median Age
7%
College-Educated
53%
High-School Grad
3.6 sq mi
ZIP Area
20,212
Density / Sq Mi
$54,781
Median Household Income
$30,132
Median Earnings
$1,515
Median Rent
$547,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - 1957 income property on a LARD2 lot with an additional dwelling unit nearing final inspection.
Where is this quadplex located?
The property is located at 9230 S Figueroa Los Angeles, CA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Fourplex built in 1957 on a 5,548 SF LARD2 lot; Additional 1BD/1BA unit under construction and in final inspection phase; Two long‑tenured RSO units, including one Section 8 placement
