Four-Unit Apartment
For Sale
Under Contract
$1,200,000
16506 S Denver Ave, Gardena, CA 90248
MULTI_FAMILY - Gardena, CA
Property Size3,948 SF
Lot Size0.15 Acres
Price / SF$303.95
Days on Market50
Property Features for 16506 S Denver Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LAR3
Bedrooms
9
Bathrooms
7
Full bathrooms
6
Rooms
Bathroom 4, Bedroom 6, Bedroom 5, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 3, Bathroom 5, Bathroom 6, Bathroom 1, Bedroom 8, Bathroom 7, Bedroom 9, Bedroom 7
Directions
Waze.com
Subdivision
North Gateway
Standard status
Active Under Contract
APN
6121-004-020
Size
3,948 SF
Lot size
0.15 Acres
Utilities
Cooling system
Window Unit(s), Wall/Window Unit(s)
Building Details
Year built
1965
Floors in Building
2
Number of units
4
Listing Agency:
eXp Realty of California Inc
(888) 584-9427
Listed By:
Carlos Villegas · License #01775788
(661) 619-7335
Added: Jun 18
Changed: Aug 2
Last Checked: Aug 6 at 11:06AM
MLS# 26849205
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Four-unit apartment building built in 1965, offering a unit mix of two 3-bedroom, 2-bath units plus one 2-bedroom, 1-bath unit and one 1-bedroom, 1-bath unit. Each unit includes individual yard space, and the property provides garage parking along with additional side parking. The building has been well cared for, with recently completed exterior paint and upgraded plumbing, and it is currently occupied by long-term tenants.
The property is located at 16506 S Denver Ave in Gardena, CA 90248 and sits on a 0.1499-acre lot with 3,948 SF of property area. Zoned LAR3, the location is described as convenient to major freeways, employment centers, shopping, dining, and public transportation.
Cooling is provided via window units and wall/window unit(s).
The property is located at 16506 S Denver Ave in Gardena, CA 90248 and sits on a 0.1499-acre lot with 3,948 SF of property area. Zoned LAR3, the location is described as convenient to major freeways, employment centers, shopping, dining, and public transportation.
Cooling is provided via window units and wall/window unit(s).
Key Highlights
- 0.1499‑acre lot with 3,948 SF property size
- Two 3‑bedroom, 2‑bath units plus 2‑bedroom, 1‑bath and 1‑bedroom, 1‑bath
- Individual yard space with garage parking and additional side parking
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
$68,946
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
5.75%
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%
$1,378,920
$1.4M
Cap Rate 7%
$984,943
$984.9K
Cap Rate 9%
$766,067
$766.1K
Market Conditions
NOI Build-Up for 3,948 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
$106.6K $27.00/SF
− Vacancy
−$8.1K −$2.05/SF
EGI
$98.5K $24.95/SF
− OpEx
−$29.5K −$7.48/SF
NOI
$68.9K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,378,920
Cap Rate 7%
$984,943
Cap Rate 9%
$766,067
Alternative Uses
Best Use
Multifamily LT 5
$984.9K
$861.8K – $1.15M
NOI $68,946 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$907.5K
$794.1K – $1.06M
NOI $63,526 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$2.11M
$1.85M – $2.47M
NOI $147,962 @ 7.0% cap · market cap 12.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,315
Businesses Nearby
Explore this area
Business Placement
Demographics for 90248, CA
11,295
Population
4,249
Households
2.7
Avg Household Size
42
Median Age
33%
College-Educated
84%
High-School Grad
4.8 sq mi
ZIP Area
2,353
Density / Sq Mi
$81,777
Median Household Income
$45,831
Median Earnings
$1,602
Median Rent
$646,900
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?
Quadplex - Well-maintained four-unit apartment building in LAR3 zoning with private yard space, garage parking, and upgraded plumbing.
Where is this quadplex located?
The property is located at 16506 S Denver Ave Gardena, CA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 0.1499‑acre lot with 3,948 SF property size; Two 3‑bedroom, 2‑bath units plus 2‑bedroom, 1‑bath and 1‑bedroom, 1‑bath; Individual yard space with garage parking and additional side parking
