645 W 97th St — Sale in Los Angeles, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Los Angeles, CA 90044

Investment Figures

Cap rate
7.84%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present to market 645 West 97th Street, a 2020 construction home and duplex on one lot in South Los Angeles. This property presents a rare opportunity to acquire a non-rent controlled asset with all four-bedroom/three-bath units. Furthermore, the front home will be delivered vacant, offering a new investor the opportunity to either owner-occupy or lease at market rate. The front home boasts a spacious 1,700-square foot floor plan with an attached two-car garage, and the rear duplex features side-by-side units with 1,561-square foot floor plans. All units feature open-concept living areas, spacious primary suites with walk-in closets, and cohesive modern finishes. Interior highlights include white shaker cabinetry, tile backsplashes, stainless steel range hoods, custom-tiled bathrooms, durable laminate flooring in common areas, and carpeting in bedrooms. All units include individual HVAC systems, in-unit laundry, and custom window coverings. The units are separately metered for all utilities, keeping owner expenses at a minimum. Located in South Los Angeles west of the 110 Freeway, the asset benefits from strong rental demand drivers, nearby schools and retail amenities, and ongoing area development. Investment Highlights: • No Rent Control: 2020 construction asset not subject to rent control, allowing for full operational flexibility and the ability to achieve market rents • Strong Unit Mix: Rare offering of all four-bedroom/three-bath units, including a 1,700 SF front home and two 1,561 SF duplex units • Front Home Delivered Vacant: Spacious front residence with attached two-car garage delivered vacant, providing immediate owner-user potential or lease-up at market rents • Modern Finishes & Amenities: Open-concept layouts with white shaker cabinetry, tile backsplashes, custom bathrooms, laminate flooring, in-unit laundry, HVAC, and separately metered utilities for reduced operating expenses

Market Context

This multifamily in Los Angeles, CA is listed for sale. It is offered at an approximate 7.8% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 86 days. Compare it against other multifamily listings for sale in Los Angeles, CA — view the full market.

As of Q1 2026, the Greater Los Angeles multifamily market showed average asking rents near $2333.00/unit/mo, and cap rates around 5.0%. Source: multiple brokerage reports, Q1 2026.

Its 7.8% asking cap rate is above the Greater Los Angeles multifamily market average of about 5.0%, implying a higher yield (and typically more risk or upside) than comparable assets.

Multifamily market FAQ

What is the typical cap rate for multifamily in Greater Los Angeles?
About 5.0% as of Q1 2026, per multiple brokerage reports.

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