Renovated Residential Income
For Sale
$349,000
Pending
14919 S Normandie Ave, Gardena, CA 90247
Gardena, CA
Property Size865 SF
Lot Size0.95 Acres
Days on Market104
Property Features for 14919 S Normandie Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Laundry Room, Bedroom 1, Bedroom 2, Family Room, Bathroom 2, Bathroom 1
Parking
4
Parking features
Guest, Assigned, Carport
Interior features
Quartz Counters, Open Floorplan
Appliances
Gas Cooktop, Range Hood, Gas Oven
Lot features
Landscaped
Elementary school district
Los Angeles Unified
Middle school district
Los Angeles Unified
High school district
Los Angeles Unified
Directions
Normandie Ave/Marine Ave
Subdivision
118 - Pacific Square
Standard status
Pending
APN
6103029144
Size
865 SF
Lot size
0.95 Acres
Taxes and HOA fees
HOA Fee
$301 Monthly
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
gated
courtyard
balcony
Building Details
Year built
1961
Floors in Building
1
Number of units
1
Flooring type
Laminate
Listing Agency:
eXp Realty of Greater Los Angeles, Inc.
(888) 652-1314
Listed By:
Frank Kenny · License #01250123
(888) 584-9427
Added: May 24
Changed: Sep 3
Last Checked: Sep 4 at 9:06AM
MLS# SB26114160
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 865-square-foot, second-floor condominium includes two bedrooms and two bathrooms, with the family room, kitchen, and dining area arranged in an open configuration. Recent improvements include quartz countertops, a gas cooktop, range hood, gas oven, new flooring, and carpeting in the bedrooms and hallway. A large balcony extends the living area, while a laundry room adds practical utility.
The gated community includes a courtyard and two assigned parking spaces: one carport space with a storage cabinet and one additional space. The property is served by public water and public sewer, with forced-air heating and wall or window-unit cooling. Located at 14919 S Normandie Ave in Gardena, the condominium was built in 1961.
The gated community includes a courtyard and two assigned parking spaces: one carport space with a storage cabinet and one additional space. The property is served by public water and public sewer, with forced-air heating and wall or window-unit cooling. Located at 14919 S Normandie Ave in Gardena, the condominium was built in 1961.
Key Highlights
- 865‑square‑foot, second‑floor condominium
- Two bedrooms and two bathrooms with an open family room, kitchen, and dining layout
- Updated kitchen with quartz counters, gas cooktop, range hood, and gas oven
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,919
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$278,380
$278.4K
Cap Rate 7%
$198,843
$198.8K
Cap Rate 9%
$154,656
$154.7K
Market Conditions
NOI Build-Up for 865 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.5K $31.80/SF
− Vacancy
−$2.2K −$2.54/SF
EGI
$25.3K $29.26/SF
− OpEx
−$11.4K −$13.17/SF
NOI
$13.9K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$278,380
Cap Rate 7%
$198,843
Cap Rate 9%
$154,656
Alternative Uses
Best Use
Apartment 5plus
$198.8K
$174.0K – $232.0K
NOI $13,919 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$463.1K
$405.2K – $540.3K
NOI $32,418 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,956
Businesses Nearby
Explore this area
Business Placement
Demographics for 90247, CA
48,543
Population
17,076
Households
2.8
Avg Household Size
39
Median Age
27%
College-Educated
78%
High-School Grad
3.8 sq mi
ZIP Area
12,774
Density / Sq Mi
$73,851
Median Household Income
$37,000
Median Earnings
$1,751
Median Rent
$640,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor condo with updated finishes, an open interior layout, private balcony, and gated-community parking.
Where is this residential income property located?
The property is located at 14919 S Normandie Ave Gardena, CA.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 865‑square‑foot, second‑floor condominium; Two bedrooms and two bathrooms with an open family room, kitchen, and dining layout; Updated kitchen with quartz counters, gas cooktop, range hood, and gas oven
