20-Unit Apartment
For Sale
$5,750,000
4447 Ocean View Boulevard, Montrose, CA 91020
1963 multifamily property with 26 on-site parking spaces and a mix of one- and two-bedroom residences.
Property Size16,369 SF
Lot Size0.72 Acres
Price / SF$351.27
Days on Market92
Property Features for 4447 Ocean View Boulevard
General Information
Standard status
Active
Size
16,369 SF
Total Parking Spaces
26
Lot size
0.72 Acres
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
11 x 1BR/1BA, 9 x 2BR/1BA
Multifamily Units
20
Building Details
Year Built
1963
Buildings
1
Listing Agency:
NAI Capital Commercial Inc.
Listed By:
Tim Steuernol · License #01742766
(310) 406-9110
Source:
Sevengables
Added: Aug 5
Changed: Nov 3
Last Checked: Nov 3 at 6:56AM
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 NAI Capital Commercial Inc.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1963, this 20-unit apartment property contains 16,369 square feet on a 31,478-square-foot lot. The unit mix includes 11 one-bedroom, one-bath residences and 9 two-bedroom, one-bath residences. On-site parking totals 26 spaces, supporting the property's residential configuration. The asset comprises two lots identified by APNs 5810-009-033 and 5810-009-031.
The property is located at 4447 Ocean View Boulevard in Montrose, California, along the Ocean View Boulevard corridor. Public remarks identify access to Montrose Shopping Park, the 210 and 2 freeways, and the broader Glendale–La Cañada employment basin. The surrounding setting includes single-family homes and low-density multifamily buildings. The rent roll indicates 20% rental upside based on the included pro forma schedule and comparable market rents.
The property is located at 4447 Ocean View Boulevard in Montrose, California, along the Ocean View Boulevard corridor. Public remarks identify access to Montrose Shopping Park, the 210 and 2 freeways, and the broader Glendale–La Cañada employment basin. The surrounding setting includes single-family homes and low-density multifamily buildings. The rent roll indicates 20% rental upside based on the included pro forma schedule and comparable market rents.
Key Highlights
- 20 units in a 16,369‑square‑foot apartment property
- 11 one‑bedroom/one‑bath units and 9 two‑bedroom/one‑bath units
- 26 on‑site parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$263,390
Cap Rate
4.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,267,800
$5.3M
Cap Rate 7%
$3,762,714
$3.8M
Cap Rate 9%
$2,926,556
$2.9M
Market Conditions
NOI Build-Up for 16,369 SF
Gross rent
$520.5K $31.80/SF
− Vacancy
−$41.6K −$2.54/SF
EGI
$478.9K $29.26/SF
− OpEx
−$215.5K −$13.17/SF
NOI
$263.4K $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 Rate 5%
$5,267,800
Cap Rate 7%
$3,762,714
Cap Rate 9%
$2,926,556
Alternative Uses
Best Use
Apartment 5plus
$3.76M
$3.29M – $4.39M
NOI $263,390 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.76M
$7.67M – $10.22M
NOI $613,473 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
20
Residential units
Yes
Highway access
Yes
Paved road access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - 1963 multifamily property with 26 on-site parking spaces and a mix of one- and two-bedroom residences.
Where is this apartment building located?
The property is located at 4447 Ocean View Boulevard Montrose, CA.
What is the asking price?
The asking price for this property is $5,750,000.
What are key features of this property?
This property features: 20 units in a 16,369‑square‑foot apartment property; 11 one‑bedroom/one‑bath units and 9 two‑bedroom/one‑bath units; 26 on‑site parking spaces
