Renovated Apartment Building
For Sale
$11,200,000
2912 W 141st Place, Gardena, CA 90249
32-unit multifamily portfolio across five parcels with renovated interiors, upgraded building systems, on-site laundry, and dedicated parking.
Property Size38,590 SF
Lot Size0.90 Acres
Price / SF$290.23
Days on Market76
Property Features for 2912 W 141st Place
General Information
Standard status
Active
Size
38,590 SF
Net Rentable
38,590 SF
Total Parking Spaces
32
Lot size
0.90 Acres
Property subtype
Multi-family
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
Amenities
on-site laundry facilities
Building Details
Year Built
1959
Listing Agency:
Shield CRE,Inc.
Listed By:
Jonathan Nikfarjam · License #01856803
(310) 880-6807
Source:
Sevengables
Added: Aug 3
Changed: Oct 16
Last Checked: Oct 16 at 8:53AM
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 32-unit apartment portfolio spans five separately parceled properties in Gardena, with a combined 38,590 square feet of rentable building area on 38,990 square feet of land. The unit mix includes 22 three-bedroom, two-bath units, 7 two-bedroom, two-bath units, and 3 studios with one bath. Most residences have updated kitchens, bathrooms, and flooring, while electrical infrastructure and interior subpanels have also been improved.
Capital work completed during the past 5 years includes approximately $774,000 in interior and in-unit renovations within more than $1,500,000 of total improvements. Five of six roofs have been replaced, and the properties include new main sewer lines, new hot water heaters, and upgraded plumbing. On-site laundry and 32 parking spaces serve the residential units.
The portfolio is approximately 1 mile from SpaceX and 3 miles from SoFi Stadium and Intuit Dome. Current performance is reported at a 6.44% cap rate and 10.09 GRM, with pro-forma metrics of a 7.32% cap rate and 9.19 GRM. The properties are subject to AB 1482 only, with no local rent control.
Capital work completed during the past 5 years includes approximately $774,000 in interior and in-unit renovations within more than $1,500,000 of total improvements. Five of six roofs have been replaced, and the properties include new main sewer lines, new hot water heaters, and upgraded plumbing. On-site laundry and 32 parking spaces serve the residential units.
The portfolio is approximately 1 mile from SpaceX and 3 miles from SoFi Stadium and Intuit Dome. Current performance is reported at a 6.44% cap rate and 10.09 GRM, with pro-forma metrics of a 7.32% cap rate and 9.19 GRM. The properties are subject to AB 1482 only, with no local rent control.
Key Highlights
- 32 units across 5 separate parcels, each with its own APN
- Unit mix: 22 3‑bedroom/2‑bath, 7 2‑bedroom/2‑bath, and 3 studio/1‑bath units
- 38,590 SF of rentable building area on a combined 38,990‑SF lot
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.
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Property Analytics
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Current Use
Lease Details
32
Residential units
Location Intelligence
Trade Area within ½ mile
1,271
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - 32-unit multifamily portfolio across five parcels with renovated interiors, upgraded building systems, on-site laundry, and dedicated parking.
Where is this apartment building located?
The property is located at 2912 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 across 5 separate parcels, each with its own APN; Unit mix: 22 3‑bedroom/2‑bath, 7 2‑bedroom/2‑bath, and 3 studio/1‑bath units; 38,590 SF of rentable building area on a combined 38,990‑SF lot
