Multifamily Asset Near Entertainment
For Sale
Contact for pricing
Pending
10720 Burin Avenue, Inglewood, CA 90304
22-unit multifamily property near SoFi Stadium and Intuit Dome.
Property Size20,912 SF
Days on Market109
Property Features for 10720 Burin Avenue
General Information
Standard status
Pending
Size
20,912 SF
Class
C
Total Parking Spaces
32
Property subtype
Multifamily
Zoning
R3
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$296,579
Building Details
Year Built
1963
Buildings
2
Stories
2
Units
22
Listing Agency:
Beach City Brokers
Listed By:
Anthony Elminoufi · License #01874551
(310) 896-6987
Source:
Crexi
Added: May 20
Changed: Aug 16
Last Checked: Sep 4 at 8:09AM
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 Beach City Brokers
Investment Insights
Based on property information with market context.
This 22-unit multifamily property is located in unincorporated Los Angeles, approximately 1.5 to 2 miles from SoFi Stadium, Intuit Dome, YouTube Theater, The Kia Forum, and Hollywood Park. The property has approved RTI permits for two Accessory Dwelling Units (ADUs) with potential for three more. A Ratio Utility Billing System (RUBS) has been initiated. Significant capital improvements have been completed, including new roofs, sewer lines, double-pane windows, water heaters, gutters, and central air and heat systems. Most units feature updated kitchens and baths. Current rents are below market. The property consists of two buildings and is fully gated, with 32 parking spaces. It is located adjacent to Inglewood, with Los Angeles International Airport (LAX) three miles away and major employers such as SpaceX and Northrop Grumman within four miles.
Key Highlights
- Turnkey 22‑unit multifamily asset in unincorporated Los Angeles, priced under $200k per unit.
- Prime location just a short distance from SoFi Stadium, Intuit Dome, YouTube Theater, The Kia Forum, and Hollywood Park.
- Approved RTI permits for 2 ADUs with potential for 3 more.
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
$259,030
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
6.48%
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%
$5,180,600
$5.2M
Cap Rate 7%
$3,700,429
$3.7M
Cap Rate 9%
$2,878,111
$2.9M
Market Conditions
NOI Build-Up for 20,912 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
$474.3K $22.68/SF
− Vacancy
−$3.3K −$0.16/SF
EGI
$471.0K $22.52/SF
− OpEx
−$211.9K −$10.13/SF
NOI
$259.0K $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%
$5,180,600
Cap Rate 7%
$3,700,429
Cap Rate 9%
$2,878,111
Alternative Uses
Best Use
Apartment 5plus
$3.70M
$3.24M – $4.32M
NOI $259,030 @ 7.0% cap · market cap 6.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.53M
$7.47M – $9.95M
NOI $597,247 @ 7.0% cap · market cap 14.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,427
Businesses Nearby
Explore this area
Business Placement
Demographics for 90304, CA
26,058
Population
7,673
Households
3.4
Avg Household Size
33
Median Age
14%
College-Educated
56%
High-School Grad
1.6 sq mi
ZIP Area
16,286
Density / Sq Mi
$63,317
Median Household Income
$31,385
Median Earnings
$1,499
Median Rent
$696,200
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 - 22-unit multifamily property near SoFi Stadium and Intuit Dome.
Where is this apartment building located?
The property is located at 10720 Burin Avenue Inglewood, CA.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: Turnkey 22‑unit multifamily asset in unincorporated Los Angeles, priced under $200k per unit.; Prime location just a short distance from SoFi Stadium, Intuit Dome, YouTube Theater, The Kia Forum, and Hollywood Park.; Approved RTI permits for 2 ADUs with potential for 3 more.
