Apartment Building with Renovated
For Sale
Contact for pricing
10223 Darby Ave, Inglewood, CA 90303
Income-producing apartment property with on-site laundry, dedicated parking, and recently updated exterior improvements.
Property Size5,192 SF
Lot Size0.15 Acres
Price / SF$279.28
Days on Market195
Property Features for 10223 Darby Ave
General Information
Standard status
Active
Size
5,192 SF
Total Parking Spaces
6
Lot size
0.15 Acres
Property subtype
Multifamily
Zoning
INM1L*
Occupancy
33%
Net Operating Income
$108,118
Financials
Cap Rate
7.46%
Gross Rent Multiplier
9.62
Units
Unit Mix
4 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
6
Amenities
on-site laundry facility
drought-tolerant landscaping
Building Details
Year Built
1955
Buildings
1
Stories
2
Units
6
Listing Agency:
Shield Commercial Real Estate
(310) 880-6807
Listed By:
Jonathan Nikfarjam · License #CA 01856803
Source:
Crexi
Added: Feb 17
Changed: Aug 30
Last Checked: Aug 30 at 6:28PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Shield Commercial Real Estate
Investment Insights
Based on property information with market context.
This apartment property contains 5,192 square feet on a 6,631-square-foot lot and was built in 1955. Vacant units have undergone renovations, while each unit includes an individual hot water heater. The property also offers on-site laundry, six parking spaces, fresh exterior paint, and drought-tolerant landscaping. Zoning is INM1L*.
The property is located at 10223 Darby Ave in Inglewood, within one mile of Intuit Dome, SoFi Stadium, Hollywood Park Casino, Cosm Los Angeles, Cinepolis Luxury Cinemas, YouTube Theater, and the planned Inglewood Transit Connector project. Retail destinations along Century Boulevard include Costco, In-N-Out Burger, Aldi, Target, Home Depot, and The Village at Century Shopping Center.
The current cap rate is 7.46% with a 9.62 GRM. Pro forma figures reflect a 7.97% cap rate and 9.15 GRM. The property is eligible for the City of Inglewood Sound Insulation Program, subject to buyer verification, with proposed soundproof exterior doors and windows and ducted HVAC improvements.
The property is located at 10223 Darby Ave in Inglewood, within one mile of Intuit Dome, SoFi Stadium, Hollywood Park Casino, Cosm Los Angeles, Cinepolis Luxury Cinemas, YouTube Theater, and the planned Inglewood Transit Connector project. Retail destinations along Century Boulevard include Costco, In-N-Out Burger, Aldi, Target, Home Depot, and The Village at Century Shopping Center.
The current cap rate is 7.46% with a 9.62 GRM. Pro forma figures reflect a 7.97% cap rate and 9.15 GRM. The property is eligible for the City of Inglewood Sound Insulation Program, subject to buyer verification, with proposed soundproof exterior doors and windows and ducted HVAC improvements.
Key Highlights
- 5,192‑SF apartment property on a 6,631‑SF lot
- Six on‑site parking spaces and an on‑site laundry facility
- Vacant units have undergone renovations; property was recently painted
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
$64,312
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
4.44%
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%
$1,286,240
$1.3M
Cap Rate 7%
$918,743
$918.7K
Cap Rate 9%
$714,578
$714.6K
Market Conditions
NOI Build-Up for 5,192 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
$117.8K $22.68/SF
− Vacancy
−$824 −$0.16/SF
EGI
$116.9K $22.52/SF
− OpEx
−$52.6K −$10.13/SF
NOI
$64.3K $12.39/SF
Area
Inglewood, CA
Vacancy
0.70%
Lease Rate
$22.68 /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%
$1,286,240
Cap Rate 7%
$918,743
Cap Rate 9%
$714,578
Alternative Uses
Best Use
Apartment 5plus
$918.7K
$803.9K – $1.07M
NOI $64,312 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.12M
$1.85M – $2.47M
NOI $148,284 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
770
Businesses Nearby
Explore this area
Business Placement
Demographics for 90303, CA
24,490
Population
7,354
Households
3.3
Avg Household Size
35
Median Age
18%
College-Educated
73%
High-School Grad
1.9 sq mi
ZIP Area
12,889
Density / Sq Mi
$70,853
Median Household Income
$36,292
Median Earnings
$1,709
Median Rent
$764,200
Median Home Value
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 - Income-producing apartment property with on-site laundry, dedicated parking, and recently updated exterior improvements.
Where is this apartment building located?
The property is located at 10223 Darby Ave Inglewood, CA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 5,192‑SF apartment property on a 6,631‑SF lot; Six on‑site parking spaces and an on‑site laundry facility; Vacant units have undergone renovations; property was recently painted
