1945 W Vernon, Los Angeles, California 90062, Los Angeles, 90062 - 5 bed, 4 bath
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Los Angeles, California 90062
This Turnkey Quadruplex is a stabilized income asset listed at $979,900, offering a strong yield in a high-demand South Los Angeles corridor. While the Fair Market Value is $869,062, the valuation is justified by a robust 6.31% in-place CAP rate and a clear path to a 7.79% pro forma. Boasting a Condition Rating of 3, the property includes an upgraded vacant unit and two-car garages for additional revenue. Located near USC and the Los Alamitos Unified district, it ensures consistent rental demand. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1945 W Vernon Subject | $974,900* List Price | 5 | 4 | 2,366 | $380 | - |
A 5700 Cimarron St Sold | $862,500 | 6 | 3 | 2,614 | $330 | 0.9 mi |
B 5718 S Manhattan Place Sold | $1,175,000 | 0 | 0 | 2,854 | $412 | 1.0 mi |
C 5700 Cimarron St Sold | $862,500 | 0 | 0 | 2,614 | $330 | 0.9 mi |
D 1424 W 49th Street Sold | $853,000 | 0 | 0 | 2,682 | $318 | 0.9 mi |
E 4019 S Van Ness Avenue Active | $1,050,000 List Price | 0 | 0 | 2,652 | $396 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is a well-maintained 1949 quadruplex that features at least one recently upgraded, turnkey unit with modern finishes, including updated flooring and cabinetry. While the building is older, the interior updates to the vacant unit and the overall 'turnkey' condition of the investment asset indicate it is move-in ready with functional systems and minimal immediate maintenance required.
The property delivers an impressive 6.31% in-place CAP rate with a clear path to a 7.79% pro forma, offering immediate cash flow and significant growth potential.
Located minutes from USC, Exposition Park, and major transit hubs, the asset is positioned in a high-demand corridor ensuring consistent occupancy and long-term appreciation.
Features a vacant upgraded unit ideal for an owner-user or immediate market-rate leasing, complemented by separate utility meters and additional income from two-car garages.
Originally built in 1949, the property may require more frequent maintenance or future capital expenditures typical of mid-century structures compared to newer builds.
With 75% of the units being 1-bedroom configurations, the property may experience higher turnover or a more restricted tenant demographic compared to assets with larger family-sized units.
1945 W Vernon Ave | 6.31% In-Place Cap | 7.79% Pro Forma | Owner-User Optional Well-maintained 4-unit investment property delivering a 6.31% current cap rate with clear upside to 7.79% pro forma in a high-demand South Los Angeles corridor. The property consists of three 1-bedroom/1-bath units and one upgraded 2-bedroom/1-bath. A 1/1 unit is currently available — offering immediate flexibility for an owner-occupant or lease-up at market rent. Key highlights: • 6.3`% in-place CAP | 7.79% pro forma CAP • One upgraded vacant unit ready for immediate occupancy or lease • Separate electric and gas meters • Two two-car garages generating additional rental income • Opportunity to install coin-op laundry for further NOI growth • 5,500 SF lot • Proven income-producing asset • Maintained and turnkey condition Located minutes from USC, BMO Stadium, Exposition Park, Metro transit lines, and major freeway access, the property benefits from consistent rental demand and long-term neighborhood momentum. This is a stabilized asset with embedded upside — offering both strong current yield and operational growth potential in one of Los Angeles’ most active rental markets. Serious investors will recognize the combination of cash flow, flexibility, and location positioning.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 0.0 | 77% |
| Baths | 4.0 | 0.0 | 86% |
| Square foot | 2,366 | 2,425 | 50% |
| Lot Size | 5,502 | 5,589 | 50% |
| Price | $974.9K | $904.9K | 59% |
| Price per sq ft | $412 | $372 | 64% |
| Built year | 1949 | 1923 | 91% |
| HOA | $0 | $0 | 50% |
| Days on market | 48 | 225 | 9% |
Apr 20, 2026
$974,900
$969,900
+1% Price Increase
Initial Listing
Apr 17, 2026
$969,900
$964,900
+1% Price Increase
Initial Listing
Apr 15, 2026
$964,900
$959,900
+1% Price Increase
Initial Listing
Apr 9, 2026
$959,900
$964,900
-1% Price Drop
Initial Listing
Apr 2, 2026
$964,900
$979,900
-2% Price Drop
Initial Listing
Mar 22, 2026
$979,900
$999,990
-2% Price Drop
Initial Listing
Mar 5, 2026
$999,990
Initial Listing
Oct 25, 2021
$819,000
Public Record