A 4-Unit Vermont Square Investment Opportunity Offered at $888,000
Exclusively listed by Jason Bergman and Denise Del Rey, The Agency
At 1425 W 48th Street, Los Angeles, CA 90062, offered at $888,000, the opportunity is not just the building itself. It is the combination of a classic four-unit layout, a neighborhood with real architectural roots, and a pricing story that works both on current numbers and on future rent growth.
The property is a 1924 fourplex with four two-bedroom units, a unit mix that continues to perform well in this part of Los Angeles.
The Property
1425 W 48th Street consists of four two-bedroom units. This unit mix remains one of the most reliable rental configurations in Los Angeles, serving roommates, small families, and long-term tenants.
One unit was previously held vacant for potential owner occupancy rather than due to market conditions, which is an important distinction when evaluating the income profile.
Current Income and Stabilized Operations
The property is currently generating approximately $73,000 in annual gross income, with rents averaging around $1,511 per unit.
Using a stabilized vacancy rate of 3%, the effective gross income is approximately $71,482 annually.
The prior year reflects elevated repair expenses tied to unit turnover, which are not expected to recur at the same level. Once normalized, operating expenses align around $35,300 annually, resulting in an estimated NOI of approximately $36,182.
At the current asking price, this supports a cap rate of approximately 4.07%.
Vermont Square: Location, Boundaries, and Context
Vermont Square is a centrally located neighborhood in South Los Angeles, generally bordered by:
North: Interstate 10 (Santa Monica Freeway)
South: Florence Avenue
East: Vermont Avenue
West: Western Avenue
The property benefits from proximity to Exposition Park, USC, Downtown Los Angeles, and the Crenshaw corridor, all of which contribute to long-term rental demand.
History of Vermont Square
Vermont Square dates back to the early 1900s as Los Angeles expanded south from its downtown core. Much of the neighborhood’s housing stock was built between the 1910s and 1930s.
A key landmark in the area is the Vermont Square Branch Library on 48th Street, built in 1913 and recognized as a historic cultural monument. This reflects the neighborhood’s long-standing presence as part of Los Angeles’ early residential expansion.
Housing Stock and Architecture
The area is defined by early 20th-century housing, including:
Spanish-style duplexes and fourplexes
Craftsman-style homes
Small apartment buildings and courtyard-style properties
Many of these buildings feature original layouts, hardwood floors, and architectural details that continue to appeal to renters today.
The Upside: Pro Forma at $2,500 Per Unit
While the property performs on current income, the real opportunity is in future rent growth.
At $2,500 per unit:
Gross Scheduled Income: $120,000
Effective Gross Income (3% vacancy): $116,400
Operating Expenses: $35,300
Pro Forma NOI: $81,100
At the current asking price of $888,000, this represents a projected cap rate of approximately 9.1%.
Comparable two-bedroom units in surrounding South Los Angeles submarkets are already achieving rents in the $2,100 to $2,500 range, supporting a realistic path toward higher income over time.
Area Growth and Development
The broader Vermont Square, Exposition Park, and Crenshaw corridors continue to see new development and investment.
Recent and upcoming projects in the area include:
New multifamily development along Vermont Avenue
Mixed-use and residential projects near Exposition Park
Ongoing redevelopment activity in the Crenshaw corridor
These projects contribute to long-term demand, improved infrastructure, and continued upward pressure on rents.
Who This Property Is For
This property is ideal for:
Investors seeking long-term hold opportunities in Los Angeles
Buyers looking for a four-unit entry point at $888,000
Owner-users looking to offset living costs with rental income
Final Thoughts
1425 W 48th Street is a straightforward, well-positioned four-unit property with real income today and meaningful upside over time.
It performs at current rents.
It improves with operational efficiency.
And it benefits from a neighborhood that continues to evolve.
Listed by Jason Bergman and Denise Del Rey
Jason Bergman is a Los Angeles-based real estate advisor with The Agency, specializing in multifamily investments and residential real estate across Los Angeles.
For more information or to schedule a private showing of 1425 W 48th Street, contact Jason directly.
