Well-Maintained Duplex: Income
For Sale
Contact for pricing
Pending
9234 Elizabeth Avenue, South Gate, CA 90280
Duplex featuring two homes on one lot with rental income.
Property Size1,608 SF
Days on Market109
Property Features for 9234 Elizabeth Avenue
General Information
Standard status
Pending
Size
1,608 SF
Property subtype
Multifamily
Zoning
Assessor
Building Details
Buildings
2
Stories
1
Units
2
Listing Agency:
Synergy Real Estate
(626) 627-0007
Listed By:
Donna Landaverde · License #02014631
Source:
Crexi
Added: May 13
Changed: Aug 15
Last Checked: Aug 29 at 3:33AM
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 Synergy Real Estate
Investment Insights
Based on property information with market context.
This well-maintained duplex presents a rare opportunity, featuring two homes on one lot. The property, totaling 1,608 square feet, includes two units, each approximately 804 square feet. Each unit features 2 bedrooms, 1 bathroom, a 1-car garage, interior washer and dryer hookups, and separate gas and water meters. The units have no common walls, enhancing privacy. The back unit includes central AC and heat, along with a private backyard patio. The front unit will be delivered vacant at close of escrow, offering an opportunity for an owner-user or investor. Additional parking is available behind each garage. The property is designed for low-maintenance upkeep. Both units have been exceptionally maintained with rental income in place. The property is located near shopping centers, schools, parks, and major freeways.
Key Highlights
- Duplex: Two Homes on One Lot
- Strong Rental Income Potential
- Front Unit Delivered Vacant
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
$28,081
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
3.51%
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%
$561,620
$561.6K
Cap Rate 7%
$401,157
$401.2K
Cap Rate 9%
$312,011
$312.0K
Market Conditions
NOI Build-Up for 1,608 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
$43.4K $27.00/SF
− Vacancy
−$3.3K −$2.05/SF
EGI
$40.1K $24.95/SF
− OpEx
−$12.0K −$7.48/SF
NOI
$28.1K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /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%
$561,620
Cap Rate 7%
$401,157
Cap Rate 9%
$312,011
Alternative Uses
Best Use
Multifamily LT 5
$401.2K
$351.0K – $468.0K
NOI $28,081 @ 7.0% cap · market cap 3.51%
Second Best
Apartment 5plus
$369.6K
$323.4K – $431.2K
NOI $25,874 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$860.9K
$753.3K – $1.00M
NOI $60,264 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,574
Businesses Nearby
Explore this area
Business Placement
Demographics for 90280, CA
92,678
Population
25,395
Households
3.6
Avg Household Size
34
Median Age
12%
College-Educated
59%
High-School Grad
7.4 sq mi
ZIP Area
12,524
Density / Sq Mi
$71,379
Median Household Income
$34,547
Median Earnings
$1,471
Median Rent
$608,500
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 - Duplex featuring two homes on one lot with rental income.
Where is this duplex located?
The property is located at 9234 Elizabeth Avenue South Gate, CA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Duplex: Two Homes on One Lot; Strong Rental Income Potential; Front Unit Delivered Vacant
