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 Market53
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
Site & Location
Neighborhood
Vermont Square
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: Nov 1
Last Checked: Nov 4 at 2:31PM
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
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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 / Yr
$63,854
Cap Rate
5.80%
Suggested Prices Based on Cap Rates
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
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 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.
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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
$632,600
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Los Angeles, CA
Properties on Market for Apartment buildings in Los Angeles
Vacancy Rate% for Multifamily in West region
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
