Multi-Structure Apartment
New
For Sale
$4,488,888
3700 E 61st Street, Huntington Park, CA 90255
Four separate buildings provide varied unit layouts, on-site laundry, storage, and parking across a corner-lot setting.
Property Size12,014 SF
Lot Size0.52 Acres
Price / SF$373.64
Days on Market6
Property Features for 3700 E 61st Street
General Information
Standard status
Active
Size
12,014 SF
Total Parking Spaces
16
Lot size
0.52 Acres
Property subtype
Multi-family
Financials
Asking Price
$4,488,888
Cap Rate
7.44%
Gross Rent Multiplier
9.36
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
16
Amenities
on-site laundry
private storage
Building Details
Year Built
1927
Buildings
4
Listing Agency:
Marcus & Millichap
Listed By:
Neema Ahadian
(714) 497-3550
Source:
Sevengables
Added: Sep 16
Changed: Sep 20
Last Checked: Sep 20 at 2:15PM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
This 1927 apartment property contains 12,014 SF across four separate structures on a 22,730 SF corner lot. The configuration includes a front duplex and rear duplex at 3700 E. 61st Street, plus three separate two-story, four-unit buildings at 3710, 3714, and 3718 E. 61st Street, for a 15+1 NC unit composition.
The property includes approximately 16 total parking spaces, including 12 carport spaces serving the three four-unit buildings, three additional carport spaces, and a single-car garage at the 3700 parcel. Twelve private storage units are positioned above the carports. Each four-unit building has a dedicated laundry room with a washer, dryer, and water heater. All four structures are separately metered for gas and electricity. Existing exterior carports may offer ADU conversion potential, subject to buyer verification. In-place operations reflect a 7.44% cap rate and 9.36 GRM, with a stated 7.88% pro forma cap rate and 8.74 GRM.
The property includes approximately 16 total parking spaces, including 12 carport spaces serving the three four-unit buildings, three additional carport spaces, and a single-car garage at the 3700 parcel. Twelve private storage units are positioned above the carports. Each four-unit building has a dedicated laundry room with a washer, dryer, and water heater. All four structures are separately metered for gas and electricity. Existing exterior carports may offer ADU conversion potential, subject to buyer verification. In-place operations reflect a 7.44% cap rate and 9.36 GRM, with a stated 7.88% pro forma cap rate and 8.74 GRM.
Key Highlights
- 15+1 NC‑unit composition across four separate structures
- 22,730 SF corner lot with 12,014 SF of property size
- Approximately 16 total parking spaces, including carports and a single‑car garage
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
$193,315
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
4.31%
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%
$3,866,300
$3.9M
Cap Rate 7%
$2,761,643
$2.8M
Cap Rate 9%
$2,147,944
$2.1M
Market Conditions
NOI Build-Up for 12,014 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
$382.0K $31.80/SF
− Vacancy
−$30.6K −$2.54/SF
EGI
$351.5K $29.26/SF
− OpEx
−$158.2K −$13.17/SF
NOI
$193.3K $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%
$3,866,300
Cap Rate 7%
$2,761,643
Cap Rate 9%
$2,147,944
Alternative Uses
Best Use
Apartment 5plus
$2.76M
$2.42M – $3.22M
NOI $193,315 @ 7.0% cap · market cap 4.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.43M
$5.63M – $7.50M
NOI $450,257 @ 7.0% cap · market cap 10.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
16
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,133
Businesses Nearby
Explore this area
Business Placement
Demographics for 90255, CA
71,157
Population
19,265
Households
3.7
Avg Household Size
34
Median Age
9%
College-Educated
53%
High-School Grad
3.7 sq mi
ZIP Area
19,232
Density / Sq Mi
$61,376
Median Household Income
$31,695
Median Earnings
$1,443
Median Rent
$562,600
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Four separate buildings provide varied unit layouts, on-site laundry, storage, and parking across a corner-lot setting.
Where is this apartment building located?
The property is located at 3700 E 61st Street Huntington Park, CA.
What is the asking price?
The asking price for this property is $4,488,888.
What are key features of this property?
This property features: 15+1 NC‑unit composition across four separate structures; 22,730 SF corner lot with 12,014 SF of property size; Approximately 16 total parking spaces, including carports and a single‑car garage
