12-Unit Apartment Building with
For Sale
$2,995,000
6150 E Olympic Blvd, Los Angeles, CA 90022
Residential Income, Los Angeles, CA
Property Size7,956 SF
Lot Size0.24 Acres
Price / SF$376.45
Days on Market41
Property Features for 6150 E Olympic Blvd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LCR3YY
Bedrooms
16
Bathrooms
12
Full bathrooms
2
Rooms
Bedroom 10, Laundry Room, Bathroom 3, Bathroom 4, Bathroom 1, Bedroom 15, Bedroom 6, Bedroom 9, Bedroom 4, Bedroom 11, Bedroom 13, Bathroom 9, Bedroom 3, Bathroom 11, Bedroom 1, Bedroom 14, Bedroom 8, Bathroom 2, Bathroom 6, Bedroom 5, Bathroom 7, Bedroom 16, Bathroom 8, Bedroom 12, Bedroom 7, Bedroom 2, Bathroom 12, Bathroom 10, Bathroom 5
Parking
12
Directions
Excellent location situated in a Prime East Los Angeles Neighborhood. Sitting on East Olympic Blvd between South Hendricks Ave and Hanover Ave. Nearest major cross streets are East Olympic Blvd and South Garfield Ave.
Subdivision
East LA
Standard status
Active
APN
6338-011-019
Size
7,956 SF
Lot size
0.24 Acres
Amenities
pool
garage parking
on-site laundry
Building Details
Year built
1962
Floors in Building
2
Number of units
12
Listing Agency:
Remax Commercial and Investment Realty · RE/MAX International
(213) 817-1000
Listed By:
Shant Sherbetdjian · License #01713570
(626) 657-8150
Added: Aug 6
Changed: Sep 12
Last Checked: Sep 15 at 5:06AM
MLS# 26868873
Copyright © 2026 The MLS/CLAW. 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 12-unit apartment property in Los Angeles was built in 1962 and contains 7,956 square feet on a 0.2415-acre lot. The unit mix includes four 2-bedroom/1-bath apartments and eight 1-bedroom/1-bath apartments. Property features include a swimming pool, garage parking, and on-site laundry. Recent capital improvements included implementation of a Ratio Utility Billing System (RUBS), while gas and electricity are separately metered for tenants.
The property is located east of Garfield Avenue near Whittier Boulevard’s restaurants, retail, and entertainment offerings. Access to the 5, 710, and 60 Freeways connects the property with Downtown Los Angeles and surrounding areas. The apartment community is subject to the Unincorporated Los Angeles County Rent Stabilization Ordinance, and the zoning designation is LCR3YY.
The property is located east of Garfield Avenue near Whittier Boulevard’s restaurants, retail, and entertainment offerings. Access to the 5, 710, and 60 Freeways connects the property with Downtown Los Angeles and surrounding areas. The apartment community is subject to the Unincorporated Los Angeles County Rent Stabilization Ordinance, and the zoning designation is LCR3YY.
Key Highlights
- 12‑unit apartment property with a 7,956‑square‑foot building on 0.2415 acres
- Unit mix includes four 2‑bedroom/1‑bath and eight 1‑bedroom/1‑bath apartments
- Pool, garage parking, and on‑site laundry
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
$166,333
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
5.55%
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%
$3,326,660
$3.3M
Cap Rate 7%
$2,376,186
$2.4M
Cap Rate 9%
$1,848,144
$1.8M
Market Conditions
NOI Build-Up for 7,956 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
$304.6K $38.28/SF
− Vacancy
−$2.1K −$0.27/SF
EGI
$302.4K $38.01/SF
− OpEx
−$136.1K −$17.11/SF
NOI
$166.3K $20.91/SF
Area
ZIP 90022
Vacancy
0.70%
Lease Rate
$38.28 /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%
$3,326,660
Cap Rate 7%
$2,376,186
Cap Rate 9%
$1,848,144
Alternative Uses
Best Use
Apartment 5plus
$2.38M
$2.08M – $2.77M
NOI $166,333 @ 7.0% cap · market cap 5.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.24M
$2.84M – $3.78M
NOI $226,909 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,413
Businesses Nearby
Explore this area
Business Placement
Demographics for 90022, CA
64,517
Population
17,845
Households
3.6
Avg Household Size
34
Median Age
10%
College-Educated
56%
High-School Grad
4.4 sq mi
ZIP Area
14,663
Density / Sq Mi
$67,829
Median Household Income
$32,304
Median Earnings
$1,407
Median Rent
$603,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Residents have access to a pool, garage parking, and on-site laundry.
Where is this apartment building located?
The property is located at 6150 E Olympic Blvd Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: 12‑unit apartment property with a 7,956‑square‑foot building on 0.2415 acres; Unit mix includes four 2‑bedroom/1‑bath and eight 1‑bedroom/1‑bath apartments; Pool, garage parking, and on‑site laundry
