32-Unit Renovated Apartment
For Sale
Contact for pricing
2912-2924 W 141st Place, Gardena, CA 90249
Gardena multifamily property with renovated residences, updated building systems, on-site laundry, and dedicated parking.
Property Size38,590 SF
Lot Size0.90 Acres
Price / SF$290.23
Days on Market62
Property Features for 2912-2924 W 141st Place
General Information
Standard status
Active
Size
38,590 SF
Total Parking Spaces
32
Lot size
0.90 Acres
Property subtype
Multifamily
Zoning
GAR4
Occupancy
87%
Investment Type
Value Add
Net Operating Income
$721,330
Financials
Cap Rate
6.44%
Gross Rent Multiplier
10.09
Units
Unit Mix
22 x 3BR/2BA, 7 x 2BR/2BA, 3 x studio/1BA
Multifamily Units
32
Additional Details
Highway Access
Yes
Amenities
on-site laundry
Building Details
Year Built
1959
Buildings
6
Units
32
Tenancy
Multi
Listing Agency:
Shield Commercial Real Estate
Listed By:
Jonathan Nikfarjam · License #CA 01856803
(310) 880-6807
Source:
Crexi
Added: Aug 17
Changed: Oct 3
Last Checked: Oct 16 at 9:02AM
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 Commercial Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1959, this 32-unit apartment property in Gardena offers a mix of 22 three-bedroom/two-bath units, 7 two-bedroom/two-bath units, and 3 studio/one-bath units. A majority of the residences have received updated kitchens, bathrooms, and flooring. Recent property improvements include extensive electrical work, new main sewer lines, plumbing updates, new water heaters, and five new roofs out of six. On-site laundry and 32 parking spaces support the existing residential configuration.
The property is approximately one mile from SpaceX and three miles from SoFi Stadium and Intuit Dome. Access to the 110 Freeway connects the asset with employment centers across the South Bay and Downtown Los Angeles. Zoning is GAR4, and the property is not subject to local rent control, with AB 1482 applying by default. Current performance includes a 6.44% cap rate and 10.09 GRM, with pro-forma figures of 7.32% and 9.19, respectively.
The property is approximately one mile from SpaceX and three miles from SoFi Stadium and Intuit Dome. Access to the 110 Freeway connects the asset with employment centers across the South Bay and Downtown Los Angeles. Zoning is GAR4, and the property is not subject to local rent control, with AB 1482 applying by default. Current performance includes a 6.44% cap rate and 10.09 GRM, with pro-forma figures of 7.32% and 9.19, respectively.
Key Highlights
- 32 units with 22 three‑bedroom, 7 two‑bedroom, and 3 studio apartments
- Over $1,500,000 in capital expenditures during the past five years
- Approximately $774,000 invested in interior and in‑unit renovations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$620,944
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,418,880
$12.4M
Cap Rate 7%
$8,870,629
$8.9M
Cap Rate 9%
$6,899,378
$6.9M
Market Conditions
NOI Build-Up for 38,590 SF
Gross rent
$1.23M $31.80/SF
− Vacancy
−$98.2K −$2.54/SF
EGI
$1.13M $29.26/SF
− OpEx
−$508.0K −$13.17/SF
NOI
$620.9K $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%
$12,418,880
Cap Rate 7%
$8,870,629
Cap Rate 9%
$6,899,378
Alternative Uses
Best Use
Apartment 5plus
$8.87M
$7.76M – $10.35M
NOI $620,944 @ 7.0% cap · market cap 5.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$20.66M
$18.08M – $24.10M
NOI $1,446,266 @ 7.0% cap · market cap 12.91%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
32
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,271
Businesses Nearby
Explore this area
Business Placement
Demographics for 90249, CA
27,125
Population
9,292
Households
2.9
Avg Household Size
40
Median Age
26%
College-Educated
80%
High-School Grad
3.0 sq mi
ZIP Area
9,042
Density / Sq Mi
$84,921
Median Household Income
$43,336
Median Earnings
$1,705
Median Rent
$709,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Gardena multifamily property with renovated residences, updated building systems, on-site laundry, and dedicated parking.
Where is this apartment building located?
The property is located at 2912-2924 W 141st Place Gardena, CA.
What is the asking price?
The asking price for this property is $11,200,000.
What are key features of this property?
This property features: 32 units with 22 three‑bedroom, 7 two‑bedroom, and 3 studio apartments; Over $1,500,000 in capital expenditures during the past five years; Approximately $774,000 invested in interior and in‑unit renovations
