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856-858 W 47th St 856 W 47th St 4 Unit Apartment Building $1,375,000 ($343,750/Unit) 8.29% Cap Rate Los Angeles, CA 90037
Investment Highlights
- MASTER LEASE
- 8.25 GRM
- 9.41% CAP RATE
Executive Summary
Property Overview
856 W 47th St is a 4-unit multifamily investment located in a high-demand South Los Angeles rental submarket, offering strong in-place yield with meaningful upside through organic rent growth. Built in 1914 and renovated in 2025, the 4,510-square-foot building sits on a 7,778-square-foot lot and features an in-demand unit mix of (4) 3-bedroom/2-bath units averaging 1,106 square feet. Two of the four units are non-rent controlled ADUs, providing ownership flexibility that most rent-controlled fourplexes in this submarket cannot offer. One unit is currently vacant, providing an incoming owner with immediate lease-up opportunity at full market rent of $3,668. Offered at $1,375,000 ($343,750 per unit / $304.88 per square foot), the asset operates at an 8.29% current cap rate with a 9.13 GRM, growing to a 10.04% cap rate and 7.81 GRM at market rents — a path driven entirely by organic lease-up with no capital improvement program required.
Investment Highlights:
• Strong Day-One Yield
• Vacant Unit Delivered at Close — Your Tenant, Your Terms
• Built-In Rent Growth with ADU Flexibility
• Strong Pro Forma Returns
• Efficient Expense Profile
• Live for Free from Day One
856 W 47th St is a 4-unit multifamily investment located in a high-demand South Los Angeles rental submarket, offering strong in-place yield with meaningful upside through organic rent growth. Built in 1914 and renovated in 2025, the 4,510-square-foot building sits on a 7,778-square-foot lot and features an in-demand unit mix of (4) 3-bedroom/2-bath units averaging 1,106 square feet. Two of the four units are non-rent controlled ADUs, providing ownership flexibility that most rent-controlled fourplexes in this submarket cannot offer. One unit is currently vacant, providing an incoming owner with immediate lease-up opportunity at full market rent of $3,668. Offered at $1,375,000 ($343,750 per unit / $304.88 per square foot), the asset operates at an 8.29% current cap rate with a 9.13 GRM, growing to a 10.04% cap rate and 7.81 GRM at market rents — a path driven entirely by organic lease-up with no capital improvement program required.
Investment Highlights:
• Strong Day-One Yield
• Vacant Unit Delivered at Close — Your Tenant, Your Terms
• Built-In Rent Growth with ADU Flexibility
• Strong Pro Forma Returns
• Efficient Expense Profile
• Live for Free from Day One
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $1,375,000 | Building Class | C |
| Price Per Unit | $343,750 | Lot Size | 0.18 AC |
| Sale Type | Investment | Building Size | 4,510 SF |
| Cap Rate | 8.29% | Average Occupancy | 25% |
| Gross Rent Multiplier | 9.13 | No. Stories | 2 |
| No. Units | 4 | Year Built/Renovated | 1914/2025 |
| Property Type | Multifamily | Parking Ratio | 0.89/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | LARD2 - Restricted Density Multiple Dwelling | ||
| Price | $1,375,000 |
| Price Per Unit | $343,750 |
| Sale Type | Investment |
| Cap Rate | 8.29% |
| Gross Rent Multiplier | 9.13 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 4,510 SF |
| Average Occupancy | 25% |
| No. Stories | 2 |
| Year Built/Renovated | 1914/2025 |
| Parking Ratio | 0.89/1,000 SF |
| Zoning | LARD2 - Restricted Density Multiple Dwelling |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 4 | $3,537 | 1,106 |
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Moderately walkable
60/100
Very drivable
80/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5018-011-052 | Improvements Assessment | $159,181 |
| Land Assessment | $742,845 | Total Assessment | $902,026 |
Property Taxes
Parcel Number
5018-011-052
Land Assessment
$742,845
Improvements Assessment
$159,181
Total Assessment
$902,026
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856-858 W 47th St | 856 W 47th St
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