Renovated Five-Unit Apartment
For Sale
$1,100,000
972 W 47th St, Los Angeles, CA 90037
Fully occupied multifamily property with renovated units and on-site resident parking.
Property Size4,300 SF
Lot Size0.16 Acres
Price / SF$255.81
Days on Market8
Property Features for 972 W 47th St
General Information
Standard status
Active
Size
4,300 SF
Net Rentable
4,300 SF
Lot size
0.16 Acres
Property subtype
Residential Income
Occupancy
100%
Financials
Asking Price
$1,100,000
Cap Rate
9.07%
Gross Rent Multiplier
7.3
Units
Unit Mix
3 x 2BR/1BA, 2 x 3BR/2BA
Multifamily Units
5
Amenities
Ring security system
Building Details
Year Built
1914
Listing Agency:
BRC Advisors- BH
Listed By:
Griffin White · License #02031785
(949) 306-1175
Source:
Propertyinpalmsprings
Added: Sep 15
Changed: Sep 21
Last Checked: Sep 21 at 2:28PM
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 BRC Advisors- BH
Investment Insights
Based on property information with market context.
This 1914 apartment building contains five units totaling approximately 4,300 rentable square feet. The unit mix includes three two-bedroom, one-bathroom residences and two three-bedroom, two-bathroom residences. All five units were renovated within the five years preceding tenant move-in, and the property includes a recently installed Ring security system.
The improvements sit on two adjacent parcels totaling approximately 6,760 square feet at 972 W. 47th Street in Los Angeles. On-site parking serves residents, while a large rear garage and storage area may offer potential for ADU conversion, subject to buyer verification. The property is fully occupied and includes APNs 5018-010-020 and 5018-010-023.
The improvements sit on two adjacent parcels totaling approximately 6,760 square feet at 972 W. 47th Street in Los Angeles. On-site parking serves residents, while a large rear garage and storage area may offer potential for ADU conversion, subject to buyer verification. The property is fully occupied and includes APNs 5018-010-020 and 5018-010-023.
Key Highlights
- Five‑unit apartment building with approximately 4,300 rentable square feet
- Unit mix includes three 2‑bedroom, 1‑bath units and two 3‑bedroom, 2‑bath units
- Fully occupied property at 972 W. 47th Street, Los Angeles, CA 90037
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
$63,854
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
5.80%
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%
$1,277,080
$1.3M
Cap Rate 7%
$912,200
$912.2K
Cap Rate 9%
$709,489
$709.5K
Market Conditions
NOI Build-Up for 4,300 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
$116.9K $27.19/SF
− Vacancy
−$818 −$0.19/SF
EGI
$116.1K $27.00/SF
− OpEx
−$52.2K −$12.15/SF
NOI
$63.9K $14.85/SF
Area
ZIP 90037
Vacancy
0.70%
Lease Rate
$27.19 /SF/Yr
Expense Ratio
45.00%
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%
$1,277,080
Cap Rate 7%
$912,200
Cap Rate 9%
$709,489
Alternative Uses
Best Use
Apartment 5plus
$912.2K
$798.2K – $1.06M
NOI $63,854 @ 7.0% cap · market cap 5.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.68M
$1.47M – $1.97M
NOI $117,943 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,280
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
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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?
Apartment building - Fully occupied multifamily property with renovated units and on-site resident parking.
Where is this apartment building located?
The property is located at 972 W 47th St Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Five‑unit apartment building with approximately 4,300 rentable square feet; Unit mix includes three 2‑bedroom, 1‑bath units and two 3‑bedroom, 2‑bath units; Fully occupied property at 972 W. 47th Street, Los Angeles, CA 90037
