16-Unit Apartment
For Sale
$3,200,000
16511 S Denver Avenue, Gardena, CA 90248
Two-building property with gated access, on-site laundry, and ample parking areas.
Property Size9,528 SF
Price / SF$335.85
Days on Market137
Property Features for 16511 S Denver Avenue
General Information
Standard status
Active
Size
9,528 SF
Property subtype
Multi-family
Building Details
Year Built
1988
Listing Agency:
Shield CRE,Inc.
Listed By:
Jonathan Nikfarjam · License #01856803
(310) 880-6807
Source:
Sevengables
Added: Jun 5
Changed: Oct 16
Last Checked: Oct 16 at 8:57AM
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 Shield CRE,Inc.
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Investment Insights
Based on property information with market context.
This 16-unit apartment property comprises separate 12-unit and 4-unit buildings totaling 9,528 SF on a 12,831-SF corner lot. Improvements include newer windows and doors, six renovated units, copper plumbing in both buildings, a new main water line, and a newer sewer line completed in 2021/2022. The 12-unit building received a new roof in 2018, and the property passed its SB 721 balcony inspection.
The property includes 24 total parking spaces, gated access, and an on-site laundry facility. The 1988-built units are subject to AB 1482 rather than LA City Rent Control, while the four units built in 1965 are subject to L.A. RSO. Current metrics include a 5.77% cap rate and 10.91 GRM, with pro-forma metrics of 7.13% cap rate and 9.41 GRM. The site is approximately one-half mile from Artesia Boulevard and near Pacific Square Shopping Center and Gardena Marketplace.
The property includes 24 total parking spaces, gated access, and an on-site laundry facility. The 1988-built units are subject to AB 1482 rather than LA City Rent Control, while the four units built in 1965 are subject to L.A. RSO. Current metrics include a 5.77% cap rate and 10.91 GRM, with pro-forma metrics of 7.13% cap rate and 9.41 GRM. The site is approximately one-half mile from Artesia Boulevard and near Pacific Square Shopping Center and Gardena Marketplace.
Key Highlights
- 16 units across separate 12‑unit and 4‑unit buildings
- 9,528 SF of building area on a 12,831‑SF corner lot
- 24 total parking spaces, gated access, and on‑site laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$153,313
Cap Rate
4.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,066,260
$3.1M
Cap Rate 7%
$2,190,186
$2.2M
Cap Rate 9%
$1,703,478
$1.7M
Market Conditions
NOI Build-Up for 9,528 SF
Gross rent
$303.0K $31.80/SF
− Vacancy
−$24.2K −$2.54/SF
EGI
$278.8K $29.26/SF
− OpEx
−$125.4K −$13.17/SF
NOI
$153.3K $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 Rate 5%
$3,066,260
Cap Rate 7%
$2,190,186
Cap Rate 9%
$1,703,478
Alternative Uses
Best Use
Apartment 5plus
$2.19M
$1.92M – $2.56M
NOI $153,313 @ 7.0% cap · market cap 4.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.10M
$4.46M – $5.95M
NOI $357,088 @ 7.0% cap · market cap 11.16%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,315
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-building property with gated access, on-site laundry, and ample parking areas.
Where is this apartment building located?
The property is located at 16511 S Denver Avenue Gardena, CA.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 16 units across separate 12‑unit and 4‑unit buildings; 9,528 SF of building area on a 12,831‑SF corner lot; 24 total parking spaces, gated access, and on‑site laundry
