20-Unit Apartment
For Sale
$5,900,000
4439 Ocean View Blvd, Montrose, CA 91020
Upgraded electrical service and completed seismic retrofit repairs support the existing multifamily improvements.
Property Size16,338 SF
Days on Market110
Property Features for 4439 Ocean View Blvd
General Information
Standard status
Active
Size
16,338 SF
Property subtype
Multifamily
Additional Details
Cap Rate
5.27%
Multifamily Units
20
Amenities
Extremely Rare Offering -- Only Six Sales of 20+ Unit Multifamily Properties in La Crescenta-Montrose-La Canada Corridor in Past 20 Years
Attractively Priced at a 5.27% CAP Rate When Recent Montrose Sales have Averaged a 4.37% CAP Rate
Updated Main Electrical Panel, Seismic Retrofit Completed, Mostly Copper Plumbing
Idyllic Suburban Location with Convenient Access to Los Angeles Metro Area's Urban Amenities
Supply-Constrained Market with Limited Land for Competing Apartments Between Verdugo Mountains and San Gabriel Mountains
One Block from Shopping and Dining Along Foothill Boulevard
Ideal Location Near Glendale, Burbank, and Pasadena, with a Short Drive to Downtown Los Angeles
Less than One Mile to Downtown Montrose, Trader Joe's, Montrose Farmer's Market
Building Details
Building Size
16,338 SF
Units
20
Listing Agency:
Encino Office
(818) 212-2810
Listed By:
Justin Swanson · License #License(s): CA: 02247536
(818) 212-2810
Source:
Marcusmillichap
Added: May 14
Changed: Aug 30
Last Checked: Aug 30 at 9:21PM
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 Encino Office
Investment Insights
Based on property information with market context.
The property at 4439 Ocean View Boulevard is a 20-unit apartment building in Montrose, California. Building improvements include mostly copper plumbing, an upgraded main electrical panel, and completed seismic retrofit repairs. The offering reflects a 5.27% cap rate, with projected rent upside identified in the property information.
Shopping and dining options along Foothill Boulevard are located one block from the property. Residents also have access to Downtown Montrose amenities, including Trader Joe’s and the weekly Farmer’s Market at The Montrose Shopping Park on Honolulu Avenue. The property is positioned within the La Crescenta-Montrose-La Canada corridor and provides access to the broader Los Angeles metropolitan area.
Shopping and dining options along Foothill Boulevard are located one block from the property. Residents also have access to Downtown Montrose amenities, including Trader Joe’s and the weekly Farmer’s Market at The Montrose Shopping Park on Honolulu Avenue. The property is positioned within the La Crescenta-Montrose-La Canada corridor and provides access to the broader Los Angeles metropolitan area.
Key Highlights
- 20‑unit apartment property at 4439 Ocean View Boulevard
- 5.27% cap rate
- Mostly copper plumbing throughout the building
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
$262,891
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
4.46%
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%
$5,257,820
$5.3M
Cap Rate 7%
$3,755,586
$3.8M
Cap Rate 9%
$2,921,011
$2.9M
Market Conditions
NOI Build-Up for 16,338 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
$519.5K $31.80/SF
− Vacancy
−$41.6K −$2.54/SF
EGI
$478.0K $29.26/SF
− OpEx
−$215.1K −$13.17/SF
NOI
$262.9K $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%
$5,257,820
Cap Rate 7%
$3,755,586
Cap Rate 9%
$2,921,011
Alternative Uses
Best Use
Apartment 5plus
$3.76M
$3.29M – $4.38M
NOI $262,891 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.75M
$7.65M – $10.21M
NOI $612,311 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20
Residential units
Location Intelligence
Trade Area within ½ mile
1,116
Businesses Nearby
Explore this area
Business Placement
Demographics for 91020, CA
8,439
Population
3,501
Households
2.4
Avg Household Size
42
Median Age
51%
College-Educated
91%
High-School Grad
0.7 sq mi
ZIP Area
12,056
Density / Sq Mi
$60,899
Median Household Income
$59,838
Median Earnings
$2,258
Median Rent
$880,700
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 - Upgraded electrical service and completed seismic retrofit repairs support the existing multifamily improvements.
Where is this apartment building located?
The property is located at 4439 Ocean View Blvd Montrose, CA.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: 20‑unit apartment property at 4439 Ocean View Boulevard; 5.27% cap rate; Mostly copper plumbing throughout the building
