Triplex Residential Income
For Sale
$838,000
927 W 48th ST, Los Angeles, CA 90037
Triplex with three 2-bedroom layouts, offering a straightforward residential income configuration near Downtown Los Angeles.
Property Size1,912 SF
Days on Market99
Property Features for 927 W 48th ST
General Information
Standard status
Active
Size
1,912 SF
Property subtype
MULTI_FAMILY
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Building Size
1,912 SF
Year Built
1912
Listing Agency:
DOUGLAS REALTY
Listed By:
DOUGLAS NGUYEN · License #00953648
(626) 312-4800
Source:
Milsteinestates
Added: Jun 16
Changed: Sep 8
Last Checked: Sep 21 at 9:02AM
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 DOUGLAS REALTY
Investment Insights
Based on property information with market context.
This triplex features two units in the front building, with each unit having two bedrooms and one bathroom. A separate back building provides an additional two-bedroom, one-bath unit, for a total of three residential units on the property.
The property is positioned close to a wide range of destinations, including USC, the Sports Arena, the Convention Center, Downtown Los Angeles, restaurants, and freeways. WalkScore is listed at 97 and transitScore at 96, indicating strong walkability and transit access, with bikeScore reported at 75.
As a for-sale residential income property, the overall configuration is well suited to an owner-operator or investor seeking a compact multifamily setup with consistent unit layouts. The three-unit structure can support income from multiple households while maintaining a manageable, small-building footprint.
The property is positioned close to a wide range of destinations, including USC, the Sports Arena, the Convention Center, Downtown Los Angeles, restaurants, and freeways. WalkScore is listed at 97 and transitScore at 96, indicating strong walkability and transit access, with bikeScore reported at 75.
As a for-sale residential income property, the overall configuration is well suited to an owner-operator or investor seeking a compact multifamily setup with consistent unit layouts. The three-unit structure can support income from multiple households while maintaining a manageable, small-building footprint.
Key Highlights
- Triplex built in 1912 with three 2‑bedroom unit layouts
- Front building includes 2 units, each with 2 bedrooms and 1 bathroom
- Back building offers 2 bedrooms and 1 bathroom
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
$31,945
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
3.81%
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%
$638,900
$638.9K
Cap Rate 7%
$456,357
$456.4K
Cap Rate 9%
$354,944
$354.9K
Market Conditions
NOI Build-Up for 1,912 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
$46.8K $24.48/SF
− Vacancy
−$1.2K −$0.61/SF
EGI
$45.6K $23.87/SF
− OpEx
−$13.7K −$7.16/SF
NOI
$31.9K $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%
$638,900
Cap Rate 7%
$456,357
Cap Rate 9%
$354,944
Alternative Uses
Best Use
Multifamily LT 5
$456.4K
$399.3K – $532.4K
NOI $31,945 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$405.6K
$354.9K – $473.2K
NOI $28,393 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$749.2K
$655.5K – $874.1K
NOI $52,443 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,310
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
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex with three 2-bedroom layouts, offering a straightforward residential income configuration near Downtown Los Angeles.
Where is this triplex located?
The property is located at 927 W 48th ST Los Angeles, CA.
What is the asking price?
The asking price for this property is $838,000.
What are key features of this property?
This property features: Triplex built in 1912 with three 2‑bedroom unit layouts; Front building includes 2 units, each with 2 bedrooms and 1 bathroom; Back building offers 2 bedrooms and 1 bathroom
