12-Unit Apartment
For Sale
Contact for pricing
13932 Coteau Drive, Whittier, CA 90604
Upgraded two- and three-bedroom residences with varied on-site parking, including carports, garages, and open spaces.
Property Size11,289 SF
Price / SF$281.25
Days on Market140
Property Features for 13932 Coteau Drive
General Information
Standard status
Active
Size
11,289 SF
Property subtype
Multifamily
Zoning
Public Rec
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$154,288
Building Details
Year Built
1977
Buildings
1
Stories
2
Units
12
Listing Agency:
Morgan Skenderian Investment Real Estate Group
Listed By:
Ken Morgan · License #01220368
Source:
Crexi
Added: Apr 15
Changed: Aug 30
Last Checked: Aug 30 at 6:58PM
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 Morgan Skenderian Investment Real Estate Group
Investment Insights
Based on property information with market context.
This 12-unit apartment property contains 11,289 square feet and was built in 1977. The unit mix includes spacious two- and three-bedroom residences averaging over 900 SF. Interior improvements include contemporary flooring, refreshed countertops, renovated bathrooms, and updated appliances. Parking is provided at a ratio of nearly 2:1 through a combination of carports, garages, and open spaces.
Recent property upgrades include new electrical panels, SB721 compliance, and new asphalt. The asset is adjacent to Candlewood Country Club in Whittier, California, placing the apartments within a suburban residential setting. The property is identified with Public Rec zoning.
Recent property upgrades include new electrical panels, SB721 compliance, and new asphalt. The asset is adjacent to Candlewood Country Club in Whittier, California, placing the apartments within a suburban residential setting. The property is identified with Public Rec zoning.
Key Highlights
- 12‑unit apartment property with 11,289 square feet, built in 1977
- Two- and three‑bedroom units averaging over 900 SF
- Nearly 2:1 parking ratio with carports, garages, and open spaces
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
$181,649
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
5.72%
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%
$3,632,980
$3.6M
Cap Rate 7%
$2,594,986
$2.6M
Cap Rate 9%
$2,018,322
$2.0M
Market Conditions
NOI Build-Up for 11,289 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
$359.0K $31.80/SF
− Vacancy
−$28.7K −$2.54/SF
EGI
$330.3K $29.26/SF
− OpEx
−$148.6K −$13.17/SF
NOI
$181.6K $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%
$3,632,980
Cap Rate 7%
$2,594,986
Cap Rate 9%
$2,018,322
Alternative Uses
Best Use
Apartment 5plus
$2.59M
$2.27M – $3.03M
NOI $181,649 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.04M
$5.29M – $7.05M
NOI $423,086 @ 7.0% cap · market cap 13.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
659
Businesses Nearby
Explore this area
Business Placement
Demographics for 90604, CA
40,110
Population
12,103
Households
3.3
Avg Household Size
37
Median Age
23%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
9,550
Density / Sq Mi
$101,104
Median Household Income
$47,359
Median Earnings
$1,809
Median Rent
$684,400
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 - Upgraded two- and three-bedroom residences with varied on-site parking, including carports, garages, and open spaces.
Where is this apartment building located?
The property is located at 13932 Coteau Drive Whittier, CA.
What is the asking price?
The asking price for this property is $3,175,000.
What are key features of this property?
This property features: 12‑unit apartment property with 11,289 square feet, built in 1977; Two- and three‑bedroom units averaging over 900 SF; Nearly 2:1 parking ratio with carports, garages, and open spaces
