6-Unit Apartment
New
For Sale
$1,375,000
10621 San Carlos Ave, South Gate, CA 90280
Two-bedroom residences with one bathroom each, gated rear parking, and individual gas and electric metering.
Property Size4,600 SF
Days on Market5
Property Features for 10621 San Carlos Ave
General Information
Standard status
Active
Size
4,600 SF
Property subtype
Multifamily
Units
Unit Mix
6 x 2BR/1BA
Multifamily Units
6
Additional Details
Utilities to Site
Yes
Amenities
gated parking
separately metered for gas and electric
Building Details
Building Size
4,600 SF
Year Built
1961
Listing Agency:
(626) 399-2415
Listed By:
Jack Jorgensen · License #CalDRE #02022727
Source:
Younglewin
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 5:02AM
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 Jack Jorgensen
Investment Insights
Based on property information with market context.
Built in 1961, this six-unit apartment property contains six residences configured with two bedrooms and one bathroom apiece. The building has received recent capital improvements. Parking is provided behind the building within a gated area, with no tuck-under parking component. Gas and electricity are separately metered for the units.
The property is located at 10621 San Carlos Ave in South Gate, California. Its consistent two-bedroom layout creates a uniform unit mix across the building, while the rear parking arrangement and separately metered utilities provide clearly defined physical and operating features for the multifamily asset.
The property is located at 10621 San Carlos Ave in South Gate, California. Its consistent two-bedroom layout creates a uniform unit mix across the building, while the rear parking arrangement and separately metered utilities provide clearly defined physical and operating features for the multifamily asset.
Key Highlights
- Six apartment units, each with 2 bedrooms and 1 bathroom
- Built in 1961 with recent capital improvements
- Gated parking area at the rear of the building
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
$74,018
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
5.38%
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%
$1,480,360
$1.5M
Cap Rate 7%
$1,057,400
$1.1M
Cap Rate 9%
$822,422
$822.4K
Market Conditions
NOI Build-Up for 4,600 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
$146.3K $31.80/SF
− Vacancy
−$11.7K −$2.54/SF
EGI
$134.6K $29.26/SF
− OpEx
−$60.6K −$13.17/SF
NOI
$74.0K $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%
$1,480,360
Cap Rate 7%
$1,057,400
Cap Rate 9%
$822,422
Alternative Uses
Best Use
Apartment 5plus
$1.06M
$925.2K – $1.23M
NOI $74,018 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.46M
$2.15M – $2.87M
NOI $172,398 @ 7.0% cap · market cap 12.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,215
Businesses Nearby
Explore this area
Business Placement
Demographics for 90280, CA
92,678
Population
25,395
Households
3.6
Avg Household Size
34
Median Age
12%
College-Educated
59%
High-School Grad
7.4 sq mi
ZIP Area
12,524
Density / Sq Mi
$71,379
Median Household Income
$34,547
Median Earnings
$1,471
Median Rent
$608,500
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 - Two-bedroom residences with one bathroom each, gated rear parking, and individual gas and electric metering.
Where is this apartment building located?
The property is located at 10621 San Carlos Ave South Gate, CA.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Six apartment units, each with 2 bedrooms and 1 bathroom; Built in 1961 with recent capital improvements; Gated parking area at the rear of the building
