Other income is non-rental income on an LA multifamily property — laundry, parking, storage, late fees, application fees, pet rent. Typically adds 2–5% of gross rent to total income.
Other income sources vary by property: coin-operated or card-based laundry (often leased to operators for a percentage), parking (especially premium in dense submarkets), storage units, pet fees, utility reimbursements. Clean buildings present other income as a separate line item.
LA multifamily other income varies by submarket. Westside parking can produce $75–$150 per space monthly. Koreatown laundry with a higher tenant-per-unit ratio generates more than a small Westside building. Buyers evaluate other income as a small but real piece of the valuation.
From the Sterman LA Multifamily Glossary — defined the way a broker with $1.41 billion across 254 closed transactions actually uses these terms.
Michael Sterman, Senior Managing Director Investments, Marcus & Millichap.
Thinking about selling? Get a no-obligation evaluation from a broker with $1.41 billion across 254 closed LA multifamily transactions.
Request Free Evaluation →