28-Unit Apartment
For Sale
$6,600,000
3835 W 104th St, Inglewood, CA 90303
Inglewood multifamily property with varied unit layouts, individually metered utilities, balconies, patios, and convenient freeway connections.
Property Size23,555 SF
Lot Size0.70 Acres
Price / SF$280.20
Days on Market146
Property Features for 3835 W 104th St
General Information
Standard status
Active
Size
23,555 SF
Class
B
Lot size
0.70 Acres
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x Studio, 10 x 1BR/1BA, 13 x 2BR/1.75BA, 1 x 3BR/2BA
Multifamily Units
28
Amenities
patios
balconies
on-site laundry
Building Details
Building Size
23,555 SF
Year Built
1961
Units
28
Listing Agency:
Lee & Associates - Pasadena
(310) 428-7580
Listed By:
Robert Leveen · License #01476685
Source:
Commercialcafe
Added: Apr 7
Changed: Aug 30
Last Checked: Aug 30 at 3:43AM
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 Lee & Associates - Pasadena
Investment Insights
Based on property information with market context.
Inglewood Palms is a 28-unit apartment community at 3835 W. 104th Street in Inglewood, California. The property contains approximately 23,555 square feet on an approximately 30,338-square-foot parcel, with a mix of four studios, ten one-bedroom/one-bath units, thirteen two-bedroom/one-and-three-quarter-bath units, and one three-bedroom/two-bath unit. Individual apartments are separately metered for gas and electric. Select first-floor homes include patios, while second-floor units feature balconies. The property also has central water heating and leased laundry equipment.
The community is subject to the City of Inglewood Rent Control Ordinance, with annual increases tied to CPI and a 3% floor. An ADU may be possible above the rear carports, subject to buyer verification with the city. The property is near Intuit Dome, SoFi Stadium, Hollywood Park retail, LAX, and employers including SpaceX, Boeing, and Kaiser Permanente. Access to I-105 and I-405 supports connectivity throughout the region. Built in 1961.
The community is subject to the City of Inglewood Rent Control Ordinance, with annual increases tied to CPI and a 3% floor. An ADU may be possible above the rear carports, subject to buyer verification with the city. The property is near Intuit Dome, SoFi Stadium, Hollywood Park retail, LAX, and employers including SpaceX, Boeing, and Kaiser Permanente. Access to I-105 and I-405 supports connectivity throughout the region. Built in 1961.
Key Highlights
- 28‑unit apartment community with 4 studios, 10 one‑bedroom, 13 two‑bedroom, and 1 three‑bedroom unit
- Approximately 23,555 square feet on an approximately 30,338‑square‑foot parcel
- Separate gas and electric metering for each apartment
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
$291,768
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
4.42%
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%
$5,835,360
$5.8M
Cap Rate 7%
$4,168,114
$4.2M
Cap Rate 9%
$3,241,867
$3.2M
Market Conditions
NOI Build-Up for 23,555 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
$534.2K $22.68/SF
− Vacancy
−$3.7K −$0.16/SF
EGI
$530.5K $22.52/SF
− OpEx
−$238.7K −$10.13/SF
NOI
$291.8K $12.39/SF
Area
Inglewood, CA
Vacancy
0.70%
Lease Rate
$22.68 /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%
$5,835,360
Cap Rate 7%
$4,168,114
Cap Rate 9%
$3,241,867
Alternative Uses
Best Use
Apartment 5plus
$4.17M
$3.65M – $4.86M
NOI $291,768 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.61M
$8.41M – $11.21M
NOI $672,731 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
28
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,581
Businesses Nearby
Explore this area
Business Placement
Demographics for 90303, CA
24,490
Population
7,354
Households
3.3
Avg Household Size
35
Median Age
18%
College-Educated
73%
High-School Grad
1.9 sq mi
ZIP Area
12,889
Density / Sq Mi
$70,853
Median Household Income
$36,292
Median Earnings
$1,709
Median Rent
$764,200
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 - Inglewood multifamily property with varied unit layouts, individually metered utilities, balconies, patios, and convenient freeway connections.
Where is this apartment building located?
The property is located at 3835 W 104th St Inglewood, CA.
What is the asking price?
The asking price for this property is $6,600,000.
What are key features of this property?
This property features: 28‑unit apartment community with 4 studios, 10 one‑bedroom, 13 two‑bedroom, and 1 three‑bedroom unit; Approximately 23,555 square feet on an approximately 30,338‑square‑foot parcel; Separate gas and electric metering for each apartment
