Gated Apartment
For Sale
$2,700,000
10965 Wright Rd, Lynwood, CA 90262
Eleven-unit multifamily asset with separate gas and electric meters, on-site laundry, and dual property entrances.
Property Size12,780 SF
Lot Size0.68 Acres
Price / SF$211.27
Days on Market38
Property Features for 10965 Wright Rd
General Information
Standard status
Active
Size
12,780 SF
Lot size
0.68 Acres
Property subtype
Multifamily
Financials
Asking Price
$2,700,000
Cap Rate
7.03%
Gross Rent Multiplier
8.4
Units
Unit Mix
5 x 2BR/1BA, 1 x 3BR/2BA, 5 x 4BR/2BA
Multifamily Units
11
Additional Details
Utilities to Site
Yes
Amenities
community laundry
gated entrance
11-unit multifamily investment opportunity in Lynwood.
Built in 1950 & 1962, the property sits on a large 29,465 SF lot with approximately 12,780 SF of gross building area.
A diverse unit mix of five two-bedroom/one-bath units, one three-bedroom/two-bath, and five rear four-bedroom/two-bath units
Building Details
Building Size
12,780 SF
Units
11
Listing Agency:
Marcus & Millichap - Los Angeles
Listed By:
Neema Ahadian · License #License(s): CA: 01346750
(310) 909-5444
Source:
Marcusmillichap
Added: Aug 2
Changed: Sep 6
Last Checked: Sep 8 at 3:42AM
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 - Los Angeles
Investment Insights
Based on property information with market context.
Located in Lynwood, this 11-unit apartment property includes approximately 12,780 SF of gross building area on a 29,465 SF lot. The unit mix comprises five two-bedroom, one-bath residences, one three-bedroom, two-bath residence, and five four-bedroom, two-bath residences positioned at the rear of the property.
A gated entry serves the property, while separate front and rear access points support resident circulation and future layout planning. Gas and electric service are individually metered. Community laundry includes two washers and two dryers, with additional income from utility reimbursements and parking. Existing exterior carports may offer a path for potential ADU conversion, subject to buyer verification. The property is reported at a 7.03% current cap rate and an 8.40 GRM based on in-place income.
A gated entry serves the property, while separate front and rear access points support resident circulation and future layout planning. Gas and electric service are individually metered. Community laundry includes two washers and two dryers, with additional income from utility reimbursements and parking. Existing exterior carports may offer a path for potential ADU conversion, subject to buyer verification. The property is reported at a 7.03% current cap rate and an 8.40 GRM based on in-place income.
Key Highlights
- 11‑unit apartment property on a 29,465 SF lot with approximately 12,780 SF of gross building area
- Unit mix includes five 2‑bedroom/1‑bath, one 3‑bedroom/2‑bath, and five 4‑bedroom/2‑bath units
- Reported 7.03% current cap rate and 8.40 GRM on in‑place income
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
$205,640
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
7.62%
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%
$4,112,800
$4.1M
Cap Rate 7%
$2,937,714
$2.9M
Cap Rate 9%
$2,284,889
$2.3M
Market Conditions
NOI Build-Up for 12,780 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
$406.4K $31.80/SF
− Vacancy
−$32.5K −$2.54/SF
EGI
$373.9K $29.26/SF
− OpEx
−$168.3K −$13.17/SF
NOI
$205.6K $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%
$4,112,800
Cap Rate 7%
$2,937,714
Cap Rate 9%
$2,284,889
Alternative Uses
Best Use
Apartment 5plus
$2.94M
$2.57M – $3.43M
NOI $205,640 @ 7.0% cap · market cap 7.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.84M
$5.99M – $7.98M
NOI $478,965 @ 7.0% cap · market cap 17.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
824
Businesses Nearby
Explore this area
Business Placement
Demographics for 90262, CA
67,099
Population
15,497
Households
4.3
Avg Household Size
32
Median Age
10%
College-Educated
58%
High-School Grad
4.8 sq mi
ZIP Area
13,979
Density / Sq Mi
$70,507
Median Household Income
$32,870
Median Earnings
$1,625
Median Rent
$569,400
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 - Eleven-unit multifamily asset with separate gas and electric meters, on-site laundry, and dual property entrances.
Where is this apartment building located?
The property is located at 10965 Wright Rd Lynwood, CA.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: 11‑unit apartment property on a 29,465 SF lot with approximately 12,780 SF of gross building area; Unit mix includes five 2‑bedroom/1‑bath, one 3‑bedroom/2‑bath, and five 4‑bedroom/2‑bath units; Reported 7.03% current cap rate and 8.40 GRM on in‑place income
