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 Market19
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
(714) 497-3550
Source:
Sevengables
Added: Aug 14
Changed: Aug 30
Last Checked: Aug 30 at 6:43PM
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.
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 = 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
$620,944
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
5.54%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
32
Residential units
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
Questions? Ask Rey
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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
