20-Unit Apartment
New
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 Market3
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
(714) 497-3550
Source:
Sevengables
Added: Sep 14
Changed: Sep 16
Last Checked: Sep 16 at 2:32PM
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.
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 = 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
$263,390
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
4.58%
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%
$5,267,800
$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
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
$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 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%
$5,267,800
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.
Property Analytics
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Current Use
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
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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 - 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
