Multifamily Property with
For Sale
$1,299,000
16701 S Berendo, Gardena, CA 90247
Updated multifamily asset with in-place rental income, garage space, and access to regional freeways and public transit.
Property Size2,766 SF
Days on Market9
Property Features for 16701 S Berendo
General Information
Standard status
Active
Size
2,766 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Building Details
Building Size
2,766 SF
Year Built
1964
Stories
2
Units
4
Listing Agency:
Buckingham Investments, Inc.
Listed By:
Jeffrey Isenberg · License #02059354
(310) 982-7055
Source:
Elliman
Added: Sep 18
Changed: Sep 24
Last Checked: Sep 24 at 12:32PM
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 Buckingham Investments, Inc.
Investment Insights
Based on property information with market context.
Built in 1964, this multifamily property offers an owner-occupant or investor configuration with updated units and existing rental income. Recent capital improvements include a new roof, a resealed upper deck, and new flooring in the units. Multiple garages add functional storage and parking space, with possible ADU conversion subject to city permitting and approval.
The property is located near the 110 and 91 freeways, with local public transit also available. Residents have access to Rowley Park, Arthur Lee Johnson Park, and the Gardena/Nakaoka Community Center. The surrounding area includes Gardena Elementary, Peary Middle School, Gardena High School, and Memorial Hospital, along with employment bases in healthcare, aerospace, and manufacturing.
The property is located near the 110 and 91 freeways, with local public transit also available. Residents have access to Rowley Park, Arthur Lee Johnson Park, and the Gardena/Nakaoka Community Center. The surrounding area includes Gardena Elementary, Peary Middle School, Gardena High School, and Memorial Hospital, along with employment bases in healthcare, aerospace, and manufacturing.
Key Highlights
- Multifamily property built in 1964
- New roof and freshly sealed upper deck
- Updated units with new flooring
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
$44,507
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
3.43%
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%
$890,140
$890.1K
Cap Rate 7%
$635,814
$635.8K
Cap Rate 9%
$494,522
$494.5K
Market Conditions
NOI Build-Up for 2,766 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
$88.0K $31.80/SF
− Vacancy
−$7.0K −$2.54/SF
EGI
$80.9K $29.26/SF
− OpEx
−$36.4K −$13.17/SF
NOI
$44.5K $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%
$890,140
Cap Rate 7%
$635,814
Cap Rate 9%
$494,522
Alternative Uses
Best Use
Apartment 5plus
$635.8K
$556.3K – $741.8K
NOI $44,507 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,663 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,008
Businesses Nearby
Explore this area
Business Placement
Demographics for 90247, CA
48,543
Population
17,076
Households
2.8
Avg Household Size
39
Median Age
27%
College-Educated
78%
High-School Grad
3.8 sq mi
ZIP Area
12,774
Density / Sq Mi
$73,851
Median Household Income
$37,000
Median Earnings
$1,751
Median Rent
$640,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Updated multifamily asset with in-place rental income, garage space, and access to regional freeways and public transit.
Where is this multifamily property located?
The property is located at 16701 S Berendo Gardena, CA.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Multifamily property built in 1964; New roof and freshly sealed upper deck; Updated units with new flooring
