Turnkey Multifamily Asset For
For Sale
$2,150,000
12120 215th St, Hawaiian Gardens, CA 90716
Well-maintained multifamily property with remodeled interiors and strong cash flow.
Property Size6,871 SF
Price / SF$312.91
Days on Market114
Property Features for 12120 215th St
General Information
Standard status
Active
Size
6,871 SF
Property subtype
Investment
Building Details
Year Built
1980
Listing Agency:
(310) 919-7554
Listed By:
William Mulkey
(310) 919-7554
Source:
Elliman
Added: Apr 10
Changed: Jul 10
Last Checked: Jul 31 at 10:35AM
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 William Mulkey
Investment Insights
Based on property information with market context.
This multifamily property, constructed in 1984, presents a rare opportunity to acquire a well-maintained asset with stable cash flow. The property has been extensively improved with fully remodeled interiors across all units within the past 2–3 years, along with new exterior paint and decking. The building spans approximately 6,871 square feet and features an excellent unit mix of two 3-bedroom/2-bath units and three 2-bedroom/1-bath units. Unit sizes are exceptionally large, measuring 1505, 2101, 1093, 968, and 1196 square feet according to the most recent appraisal. The property is efficiently designed with 11 on-site parking spaces, including five single-car garages in the front and six gated tuck-under spaces accessed from the rear alley. Gas and electricity are separately metered, and each unit has its own water heater. The property offers upside potential through continued organic rent growth, operational efficiencies, and possible ADU development utilizing existing garage space (buyer to verify). The location has a bike score of 55, walk score of 47, and transit score of 32.
Key Highlights
- Fully remodeled interiors and new exterior paint/decking offer a turnkey, low‑maintenance investment.
- Strong, stable cash flow from day one with separately metered gas/electricity and individual water heaters.
- Excellent unit mix of spacious 3‑bedroom/2‑bath and 2‑bedroom/1‑bath units.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $218.5k | $31.80 |
| − Vacancy | −$17.5k | −$2.54 |
| EGI | $201.0k | $29.26 |
| − OpEx | −$90.5k | −$13.17 |
| NOI | $110.6k | $16.09 |
6,871 SF · lease $31.80/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.58M
$1.38M – $1.84M
NOI $110,560 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.68M
$3.22M – $4.29M
NOI $257,509 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,191
Businesses Nearby
Explore this area
Business Placement
Demographics for 90716, CA
14,098
Population
3,988
Households
3.5
Avg Household Size
34
Median Age
17%
College-Educated
68%
High-School Grad
0.9 sq mi
ZIP Area
15,664
Density / Sq Mi
$76,235
Median Household Income
$36,531
Median Earnings
$1,696
Median Rent
$525,100
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 - Well-maintained multifamily property with remodeled interiors and strong cash flow.
Where is this apartment building located?
The property is located at 12120 215th St Hawaiian Gardens, CA.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Fully remodeled interiors and new exterior paint/decking offer a turnkey, low‑maintenance investment.; Strong, stable cash flow from day one with separately metered gas/electricity and individual water heaters.; Excellent unit mix of spacious 3‑bedroom/2‑bath and 2‑bedroom/1‑bath units.
