18-Unit Garden Apartment
For Sale
$4,650,000
14815 Prairie Ave, Lawndale, CA 90260
Garden-style multifamily property with on-site laundry, parking, and a mix of one- and two-bedroom units.
Property Size13,521 SF
Lot Size0.41 Acres
Price / SF$343.91
Days on Market18
Property Features for 14815 Prairie Ave
General Information
Standard status
Active
Size
13,521 SF
Total Parking Spaces
18
Lot size
0.41 Acres
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
12 x 1BR (~700 SF), 6 x 2BR (~850 SF)
Multifamily Units
18
Amenities
on-site laundry
Building Details
Year Built
1957
Buildings
3
Construction
garden-style
Listing Agency:
Berkadia
(310) 209-3209
Listed By:
Steffan Braunlich · License #01859098
(310) 209-3209
Source:
Exprealty
Added: Aug 5
Changed: Aug 21
Last Checked: Aug 22 at 12:31PM
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 Berkadia
Investment Insights
Based on property information with market context.
This 18-unit garden-style apartment community comprises three buildings constructed in 1957. The unit mix includes 12 one-bedroom residences of approximately 700 SF and 6 two-bedroom residences of approximately 850 SF. Property features include on-site laundry, 18 parking spaces, updated windows throughout, and select residences with hardwood flooring and granite countertops. Electricity and gas are individually metered.
The property occupies a 17,771-SF lot with approximately 13,521 SF of building area at 14803, 14807, and 14815 Prairie Avenue in Lawndale, California. It borders Torrance and is located two blocks from the 405 Freeway and one mile from El Camino College. The community is outside local rent control and subject to the statewide AB 1482 cap.
The property occupies a 17,771-SF lot with approximately 13,521 SF of building area at 14803, 14807, and 14815 Prairie Avenue in Lawndale, California. It borders Torrance and is located two blocks from the 405 Freeway and one mile from El Camino College. The community is outside local rent control and subject to the statewide AB 1482 cap.
Key Highlights
- 18‑unit community across three garden‑style apartment buildings
- Unit mix includes 12 one‑bedroom and 6 two‑bedroom apartments
- Approximately 13,521 SF of building area on a 17,771‑SF lot
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
$217,564
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
4.68%
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%
$4,351,280
$4.4M
Cap Rate 7%
$3,108,057
$3.1M
Cap Rate 9%
$2,417,378
$2.4M
Market Conditions
NOI Build-Up for 13,521 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
$430.0K $31.80/SF
− Vacancy
−$34.4K −$2.54/SF
EGI
$395.6K $29.26/SF
− OpEx
−$178.0K −$13.17/SF
NOI
$217.6K $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%
$4,351,280
Cap Rate 7%
$3,108,057
Cap Rate 9%
$2,417,378
Alternative Uses
Best Use
Apartment 5plus
$3.11M
$2.72M – $3.63M
NOI $217,564 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.24M
$6.33M – $8.45M
NOI $506,736 @ 7.0% cap · market cap 10.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,548
Businesses Nearby
Explore this area
Business Placement
Demographics for 90260, CA
33,338
Population
10,787
Households
3.1
Avg Household Size
36
Median Age
23%
College-Educated
75%
High-School Grad
2.5 sq mi
ZIP Area
13,335
Density / Sq Mi
$86,736
Median Household Income
$38,183
Median Earnings
$1,877
Median Rent
$745,700
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 - Garden-style multifamily property with on-site laundry, parking, and a mix of one- and two-bedroom units.
Where is this apartment building located?
The property is located at 14815 Prairie Ave Lawndale, CA.
What is the asking price?
The asking price for this property is $4,650,000.
What are key features of this property?
This property features: 18‑unit community across three garden‑style apartment buildings; Unit mix includes 12 one‑bedroom and 6 two‑bedroom apartments; Approximately 13,521 SF of building area on a 17,771‑SF lot
