Quadplex with Standalone Front
For Sale
$1,150,000
16928 Berendo Ave, Gardena, CA 90247
Separate rear units support an owner-user layout alongside income-producing residential space.
Property Size3,143 SF
Days on Market110
Property Features for 16928 Berendo Ave
General Information
Standard status
Active
Size
3,143 SF
Total Parking Spaces
5
Property subtype
Multifamily
Occupancy
100%
Financials
Cap Rate
5.05%
Gross Rent Multiplier
12.13
Additional Details
Multifamily Units
4
Amenities
4 Total Units (3 Legal + 1 Non-Conforming) – Well-positioned income property with additional unit providing upside (buyer to verify)
Large Front House – 3 Bed/1 Bath – Oversized standalone home ideal for owner-user or premium rental income, a major differentiator vs typical 4-unit product
Strong Owner-User Appeal – Live in the front house while collecting income from the rear units to offset mortgage
Attractive Pricing – 12.13 GRM | 5.05% Cap Rate – Priced competitively relative to current on-market comps, offering investors strong in-place returns
Building Details
Building Size
3,143 SF
Units
4
Listing Agency:
South Bay Office
(424) 405-3855
Listed By:
Jonathan Weir · License #License(s): CA: 02038545
(424) 405-3855
Source:
Marcusmillichap
Added: May 14
Changed: Aug 29
Last Checked: Aug 30 at 12:54PM
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 South Bay Office
Investment Insights
Based on property information with market context.
This quadplex includes a standalone front house with 3 bedrooms and 1 bathroom, plus three additional units positioned at the rear. The configuration includes 3 legal units and 1 non-conforming unit, creating physical separation between the front residence and rear rental spaces. Five parking spots serve the property.
Located at 16928 Berendo Ave in Gardena, California, the property offers an owner-user arrangement with the option to occupy the front house while collecting income from the rear units. The in-place economics include a 12.13 GRM and a 5.05% cap rate.
Located at 16928 Berendo Ave in Gardena, California, the property offers an owner-user arrangement with the option to occupy the front house while collecting income from the rear units. The in-place economics include a 12.13 GRM and a 5.05% cap rate.
Key Highlights
- 4‑unit configuration with 3 legal units and 1 non‑conforming unit
- Standalone front house with 3 bedrooms and 1 bathroom
- Three rear units separated from the front residence
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
$54,888
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
4.77%
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%
$1,097,760
$1.1M
Cap Rate 7%
$784,114
$784.1K
Cap Rate 9%
$609,867
$609.9K
Market Conditions
NOI Build-Up for 3,143 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
$84.9K $27.00/SF
− Vacancy
−$6.4K −$2.05/SF
EGI
$78.4K $24.95/SF
− OpEx
−$23.5K −$7.48/SF
NOI
$54.9K $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%
$1,097,760
Cap Rate 7%
$784,114
Cap Rate 9%
$609,867
Alternative Uses
Best Use
Multifamily LT 5
$784.1K
$686.1K – $914.8K
NOI $54,888 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$722.5K
$632.2K – $842.9K
NOI $50,573 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,792 @ 7.0% cap · market cap 10.24%
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
1,017
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
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 - Separate rear units support an owner-user layout alongside income-producing residential space.
Where is this quadplex located?
The property is located at 16928 Berendo Ave Gardena, CA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 4‑unit configuration with 3 legal units and 1 non‑conforming unit; Standalone front house with 3 bedrooms and 1 bathroom; Three rear units separated from the front residence
