15-Unit Apartment
New
For Sale
$3,500,000
3161 Carlin Ave, Lynwood, CA 90262
Affordable housing community with a varied mix of family-sized apartments and smaller residential units.
Property Size15,410 SF
Lot Size0.71 Acres
Days on Market3
Property Features for 3161 Carlin Ave
General Information
Standard status
Active
Size
15,410 SF
Lot size
0.71 Acres
Property subtype
Multifamily
Occupancy
95%
Units
Unit Mix
3 x 4BR/2BA, 4 x 3BR/2BA, 4 x 2BR/1BA, 4 x 1BR/1BA
Multifamily Units
15
Amenities
Use & income limits: 15 units allocated across 35%, 50%, 60%, and 80%AMI income levels.
Rent controls: Restricted rents are tied to HUD affordability guidelines and household income limits.
Operating covenants: Ownership must maintain reserves, insurance coverage, and ongoing property maintenance consistent with affordable housing requirements.
Building Details
Building Size
15,410 SF
Year Built
1992
Units
15
Listed By:
Alex Scinta · License #License(s): CA: 02161763
(424) 405-3861
Source:
Marcusmillichap
Added: Sep 20
Last Checked: Sep 22 at 1:11PM
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 Alex Scinta
Investment Insights
Based on property information with market context.
This 15-unit apartment property occupies 0.71 acres and was built in 1992. The unit mix includes three 4-bedroom/2-bath apartments of approximately 1,400 SF, four 3-bedroom/2-bath apartments of approximately 1,300 SF, four 2-bedroom/1-bath apartments of approximately 840 SF, and four 1-bedroom/1-bath apartments of approximately 710 SF.
The property is located at 3161 Carlin Avenue in Lynwood, California, and serves income-qualified households. A recorded affordability covenant applies through approximately October 2052, providing a defined long-term affordability framework for the community.
The property is located at 3161 Carlin Avenue in Lynwood, California, and serves income-qualified households. A recorded affordability covenant applies through approximately October 2052, providing a defined long-term affordability framework for the community.
Key Highlights
- 15‑unit apartment property on a 0.71‑acre lot
- Built in 1992
- Unit mix includes three 4‑bedroom/2‑bath units at approximately 1,400 SF
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
$247,959
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
7.08%
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%
$4,959,180
$5.0M
Cap Rate 7%
$3,542,271
$3.5M
Cap Rate 9%
$2,755,100
$2.8M
Market Conditions
NOI Build-Up for 15,410 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
$490.0K $31.80/SF
− Vacancy
−$39.2K −$2.54/SF
EGI
$450.8K $29.26/SF
− OpEx
−$202.9K −$13.17/SF
NOI
$248.0K $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%
$4,959,180
Cap Rate 7%
$3,542,271
Cap Rate 9%
$2,755,100
Alternative Uses
Best Use
Apartment 5plus
$3.54M
$3.10M – $4.13M
NOI $247,959 @ 7.0% cap · market cap 7.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.25M
$7.22M – $9.63M
NOI $577,532 @ 7.0% cap · market cap 16.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
1,010
Businesses Nearby
Explore this area
Business Placement
Demographics for 90262, CA
67,099
Population
15,497
Households
4.3
Avg Household Size
32
Median Age
10%
College-Educated
58%
High-School Grad
4.8 sq mi
ZIP Area
13,979
Density / Sq Mi
$70,507
Median Household Income
$32,870
Median Earnings
$1,625
Median Rent
$569,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Affordable housing community with a varied mix of family-sized apartments and smaller residential units.
Where is this apartment building located?
The property is located at 3161 Carlin Ave Lynwood, CA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 15‑unit apartment property on a 0.71‑acre lot; Built in 1992; Unit mix includes three 4‑bedroom/2‑bath units at approximately 1,400 SF
