12-Unit Apartment
New
For Sale
$2,500,000
1408 Centinela Ave, Inglewood, CA 90302
Two buildings share controlled entry and offer varied floor plans, separately metered utilities, laundry, storage, and select in-unit hookups.
Property Size8,862 SF
Lot Size0.28 Acres
Price / SF$282.10
Days on Market2
Property Features for 1408 Centinela Ave
General Information
Standard status
Active
Size
8,862 SF
Lot size
0.28 Acres
Property subtype
Multifamily
Financials
Asking Price
$2,500,000
Cap Rate
6.41%
Gross Rent Multiplier
9.23
Units
Unit Mix
9 x 1BR, 1 x 2BR/1BA, 1 x 2BR/2BA, 1 x 3BR/2BA
Multifamily Units
12
Additional Details
Utilities to Site
Yes
Amenities
controlled access
on-site laundry
storage rentals
wall AC units
in-unit washer and dryer hookups
12-unit multifamily investment opportunity in Inglewood, comprised of two buildings on a single 11,992 SF parcel totaling approximately 8,862 SF of gross building area. The property was built in 1958.
A diverse unit mix of nine one-bedrooms, one two-bedroom/one-bath, one two-bedroom/two-bath, and one three-bedroom/two-bath.
The property offers controlled access through a shared gate serving both buildings, providing a layer of security that is attractive to prospective tenants.
Building Details
Building Size
8,862 SF
Year Built
1958
Buildings
2
Units
12
Abandoned
No
Listing Agency:
Marcus & Millichap
(310) 909-5444
Listed By:
Neema Ahadian · License #License(s): CA: 01346750
(310) 909-5444
Source:
Marcusmillichap
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 4:31PM
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
Investment Insights
Based on property information with market context.
This 12-unit apartment property consists of two buildings on a 11,992-square-foot parcel, with approximately 8,862 square feet of gross building area. Built in 1958, the unit mix includes nine one-bedroom apartments, one two-bedroom/one-bath unit, one two-bedroom/two-bath unit, and one three-bedroom/two-bath unit. A shared gated entrance serves both buildings, while gas and electric service are separately metered.
On-site laundry and storage rentals provide ancillary income. Additional storage space is available for tenant leasing, and select apartments include wall AC units and washer and dryer hookups. Detached garages at the rear may provide an ADU conversion opportunity, subject to buyer verification.
The property is located at 1408 Centinela Avenue in Inglewood, California. In-place operations reflect a 6.41% current cap rate and a 9.23 GRM.
On-site laundry and storage rentals provide ancillary income. Additional storage space is available for tenant leasing, and select apartments include wall AC units and washer and dryer hookups. Detached garages at the rear may provide an ADU conversion opportunity, subject to buyer verification.
The property is located at 1408 Centinela Avenue in Inglewood, California. In-place operations reflect a 6.41% current cap rate and a 9.23 GRM.
Key Highlights
- 12‑unit apartment property comprising two buildings on a 11,992 SF parcel
- Approximately 8,862 SF of gross building area; built in 1958
- Unit mix includes nine one‑bedrooms plus 2BR/1BA, 2BR/2BA, and 3BR/2BA units
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
$109,771
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
4.39%
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%
$2,195,420
$2.2M
Cap Rate 7%
$1,568,157
$1.6M
Cap Rate 9%
$1,219,678
$1.2M
Market Conditions
NOI Build-Up for 8,862 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
$201.0K $22.68/SF
− Vacancy
−$1.4K −$0.16/SF
EGI
$199.6K $22.52/SF
− OpEx
−$89.8K −$10.13/SF
NOI
$109.8K $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%
$2,195,420
Cap Rate 7%
$1,568,157
Cap Rate 9%
$1,219,678
Alternative Uses
Best Use
Apartment 5plus
$1.57M
$1.37M – $1.83M
NOI $109,771 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.62M
$3.16M – $4.22M
NOI $253,099 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,727
Businesses Nearby
Explore this area
Business Placement
Demographics for 90302, CA
29,264
Population
11,366
Households
2.6
Avg Household Size
36
Median Age
30%
College-Educated
81%
High-School Grad
1.9 sq mi
ZIP Area
15,402
Density / Sq Mi
$72,461
Median Household Income
$37,675
Median Earnings
$1,784
Median Rent
$731,300
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 - Two buildings share controlled entry and offer varied floor plans, separately metered utilities, laundry, storage, and select in-unit hookups.
Where is this apartment building located?
The property is located at 1408 Centinela Ave Inglewood, CA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 12‑unit apartment property comprising two buildings on a 11,992 SF parcel; Approximately 8,862 SF of gross building area; built in 1958; Unit mix includes nine one‑bedrooms plus 2BR/1BA, 2BR/2BA, and 3BR/2BA units
