Four-Unit Property with Front
For Sale
$900,000
1148 166th St, Gardena, CA 90247
Multifamily property combining a detached residence with additional rental units and potential for added density.
Property Size2,597 SF
Days on Market106
Property Features for 1148 166th St
General Information
Standard status
Active
Size
2,597 SF
Property subtype
Multifamily
Occupancy
100%
Amenities
48% Rental Upside – Significant mark-to-market opportunity, allowing investors to substantially increase income and overall returns
Strong Value-Add Opportunity – Ideal for investors looking to renovate, reposition, and capture rental growth
Standalone 3 Bed/1 Bath Front House – Highly desirable layout offering owner-user potential or premium rental income, setting the property apart from typical 4-unit assets
ADU Development Potential (SB1211) – Ability to add up to 4 ADUs (buyer to verify), creating a clear path to increased density and long-term value
Lowest Priced 4-Unit in Gardena – Positioned as the most competitively priced 4-unit property in the city, designed to drive strong investor interest
Building Details
Building Size
2,597 SF
Units
4
Listing Agency:
South Bay Office
(424) 405-3855
Listed By:
Jonathan Weir · License #License(s): CA: 02038545
(424) 405-3855
Source:
Marcusmillichap
Added: May 18
Changed: Aug 30
Last Checked: Aug 30 at 9:29PM
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 South Bay Office
Investment Insights
Based on property information with market context.
This four-unit multifamily property includes a detached front residence configured with three bedrooms and one bathroom. The standalone house creates a distinct owner-occupant option within the property and complements the remaining rental units. Interior and exterior improvements are identified as part of a repositioning strategy, with stated rental upside of 48%.
The property is located in Gardena, California. Additional development may be possible under SB1211, with the source indicating potential for up to 4 added units, subject to buyer verification. This creates a documented path to evaluate increased unit count and future property configuration.
The property is located in Gardena, California. Additional development may be possible under SB1211, with the source indicating potential for up to 4 added units, subject to buyer verification. This creates a documented path to evaluate increased unit count and future property configuration.
Key Highlights
- Four‑unit multifamily property in Gardena, CA
- Detached front house with 3 bedrooms and 1 bathroom
- Stated rental upside of 48%
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
$45,353
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
5.04%
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%
$907,060
$907.1K
Cap Rate 7%
$647,900
$647.9K
Cap Rate 9%
$503,922
$503.9K
Market Conditions
NOI Build-Up for 2,597 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
$70.1K $27.00/SF
− Vacancy
−$5.3K −$2.05/SF
EGI
$64.8K $24.95/SF
− OpEx
−$19.4K −$7.48/SF
NOI
$45.4K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$907,060
Cap Rate 7%
$647,900
Cap Rate 9%
$503,922
Alternative Uses
Best Use
Multifamily LT 5
$647.9K
$566.9K – $755.9K
NOI $45,353 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$597.0K
$522.4K – $696.5K
NOI $41,788 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,330 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,008
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Multifamily property combining a detached residence with additional rental units and potential for added density.
Where is this quadplex located?
The property is located at 1148 166th St Gardena, CA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Four‑unit multifamily property in Gardena, CA; Detached front house with 3 bedrooms and 1 bathroom; Stated rental upside of 48%
