Lakewood Multifamily Townhome-Style
For Sale
Contact for pricing
11932 207th St, Lakewood, CA 90715
19-unit multifamily investment opportunity in Lakewood, California.
Property Size17,040 SF
Price / SF$513.50
Days on Market361
Property Features for 11932 207th St
General Information
Standard status
Active
Size
17,040 SF
Property subtype
Multifamily
Net Operating Income
$408,255
Building Details
Year Built
1990
Buildings
4
Stories
2
Units
19
Listing Agency:
Marcus & Millichap - Orange County
(949) 419-3200
Listed By:
Tyler Leeson · License #CA 01451551
Source:
Crexi
Added: Aug 15, 2025
Changed: Aug 8
Last Checked: Aug 9 at 3:34PM
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 Marcus & Millichap - Orange County
Investment Insights
Based on property information with market context.
Located in Lakewood, California, the property at 11932 207th Street presents a multifamily investment opportunity with 19 units. Constructed in 1990, this newer-vintage asset is situated in a rental market characterized by older housing stock. The property features exclusively 2-bed/2.5-bath townhome-style units, each designed across two levels. Every unit includes a private balcony (10 units feature 2 balconies), in-unit laundry connections, and an attached two-car garage with direct access. The building also offers surface parking, gated access with callbox entry, and on-site laundry. The property is located near employment hubs, retail centers, and freeway access points. Residents have convenient access to grocers such as H Mart (0.45 miles away), parks, and schools, including walkable access to Artesia High School. The property is intended for multifamily residential use.
Key Highlights
- Rare newer construction, built in 1990
- All units are desirable 2‑bed/2.5‑bath townhome‑style with two‑story layouts
- Each unit includes highly sought‑after amenities: private balcony (up to 2 per unit), in‑unit laundry connections, and attached two‑car garage with direct access
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
$274,187
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
3.13%
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%
$5,483,740
$5.5M
Cap Rate 7%
$3,916,957
$3.9M
Cap Rate 9%
$3,046,522
$3.0M
Market Conditions
NOI Build-Up for 17,040 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
$541.9K $31.80/SF
− Vacancy
−$43.3K −$2.54/SF
EGI
$498.5K $29.26/SF
− OpEx
−$224.3K −$13.17/SF
NOI
$274.2K $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%
$5,483,740
Cap Rate 7%
$3,916,957
Cap Rate 9%
$3,046,522
Alternative Uses
Best Use
Apartment 5plus
$3.92M
$3.43M – $4.57M
NOI $274,187 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.12M
$7.98M – $10.64M
NOI $638,620 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
735
Businesses Nearby
Explore this area
Business Placement
Demographics for 90715, CA
20,999
Population
6,536
Households
3.2
Avg Household Size
37
Median Age
28%
College-Educated
86%
High-School Grad
1.7 sq mi
ZIP Area
12,352
Density / Sq Mi
$94,796
Median Household Income
$44,344
Median Earnings
$2,196
Median Rent
$660,900
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 - 19-unit multifamily investment opportunity in Lakewood, California.
Where is this apartment building located?
The property is located at 11932 207th St Lakewood, CA.
What is the asking price?
The asking price for this property is $8,750,000.
What are key features of this property?
This property features: Rare newer construction, built in 1990; All units are desirable 2‑bed/2.5‑bath townhome‑style with two‑story layouts; Each unit includes highly sought‑after amenities: private balcony (up to 2 per unit), in‑unit laundry connections, and attached two‑car garage with direct access
