5-Unit Apartment
For Sale
$1,425,000
Pending
128 N Hillcrest Blvd, Inglewood, CA 90301
Vacant multifamily property with a front fourplex and separate rear residence, offering consistent two-bedroom layouts throughout.
Property Size5,180 SF
Days on Market33
Property Features for 128 N Hillcrest Blvd
General Information
Standard status
Pending
Size
5,180 SF
Property subtype
MULTI_FAMILY
Property Condition
Severity
Repairs Needed
Evidence
finalize the project
Units
Unit Mix
5 x 2BR
Multifamily Units
5
Building Details
Building Size
5,180 SF
Year Built
1922
Buildings
2
Listing Agency:
BRC Advisors- BH
(424) 325-2604
Listed By:
John Katnik · License #02002695
Source:
Evecap
Added: Jul 31
Changed: Aug 31
Last Checked: Aug 30 at 9:36PM
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 BRC Advisors- BH
Investment Insights
Based on property information with market context.
This 5-unit apartment property in Inglewood includes a front fourplex and a detached rear house. Each residence is configured as a 2-bedroom layout, and the property is scheduled for delivery completely vacant, providing a clean starting point for future ownership or repositioning plans.
Constructed in 1922, the property sustained a fire in 2016 and later received substantial reconstruction. The asset is located at 128 N Hillcrest Blvd in Inglewood, California, on a residential street characterized in the source information as being surrounded by high-end single-family homes. The configuration combines multiple units in the primary building with a separate rear residence.
Constructed in 1922, the property sustained a fire in 2016 and later received substantial reconstruction. The asset is located at 128 N Hillcrest Blvd in Inglewood, California, on a residential street characterized in the source information as being surrounded by high-end single-family homes. The configuration combines multiple units in the primary building with a separate rear residence.
Key Highlights
- 5‑unit apartment property with a front fourplex and detached rear house
- All five units feature 2‑bedroom layouts
- Property will be delivered 100% vacant
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
$64,163
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
4.50%
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%
$1,283,260
$1.3M
Cap Rate 7%
$916,614
$916.6K
Cap Rate 9%
$712,922
$712.9K
Market Conditions
NOI Build-Up for 5,180 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
$117.5K $22.68/SF
− Vacancy
−$822 −$0.16/SF
EGI
$116.7K $22.52/SF
− OpEx
−$52.5K −$10.13/SF
NOI
$64.2K $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%
$1,283,260
Cap Rate 7%
$916,614
Cap Rate 9%
$712,922
Alternative Uses
Best Use
Apartment 5plus
$916.6K
$802.0K – $1.07M
NOI $64,163 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.11M
$1.85M – $2.47M
NOI $147,941 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,357
Businesses Nearby
Explore this area
Business Placement
Demographics for 90301, CA
36,270
Population
12,884
Households
2.8
Avg Household Size
37
Median Age
20%
College-Educated
73%
High-School Grad
2.5 sq mi
ZIP Area
14,508
Density / Sq Mi
$62,991
Median Household Income
$33,884
Median Earnings
$1,658
Median Rent
$698,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Vacant multifamily property with a front fourplex and separate rear residence, offering consistent two-bedroom layouts throughout.
Where is this apartment building located?
The property is located at 128 N Hillcrest Blvd Inglewood, CA.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: 5‑unit apartment property with a front fourplex and detached rear house; All five units feature 2‑bedroom layouts; Property will be delivered 100% vacant
