Apartment Building with Secured
New
For Sale
$2,150,000
4838 W 118th St, Hawthorne, CA 90250
Built in 1985, the property offers gated parking and separately metered gas and electricity.
Property Size7,368 SF
Days on Market4
Property Features for 4838 W 118th St
General Information
Standard status
Active
Size
7,368 SF
Total Parking Spaces
15
Property subtype
Multifamily
Occupancy
100%
Units
Unit Mix
1 x 3BR/1.5BA, 2 x 2BR/2BA, 4 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
8
Additional Details
Utilities to Site
Yes
Amenities
1985 Construction — Newer Vintage for Hawthorne Multifamily
Pride Of Ownership Asset — Very Well Maintained
15 Secured Parking Spots — Covered Parking With Security Gate Access
The Deal Makes Sense — Attractive Current Income and Pricing Metrics
Upside — Through Increases Rents To Market and Billing Back Utilities
Building Details
Building Size
7,368 SF
Year Built
1985
Units
8
Listing Agency:
(424) 405-3855
Listed By:
Jon Weir · License #License(s): CA: 02038545
(424) 405-3855
Source:
Marcusmillichap
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 31 at 12:54PM
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 Jon Weir
Investment Insights
Based on property information with market context.
This eight-unit apartment property, constructed in 1985, includes a varied residential configuration: one three-bedroom/1.5-bathroom home, two two-bedroom/two-bathroom homes, four two-bedroom/one-bathroom homes, and one one-bedroom/one-bathroom home. The property provides 15 secured parking spaces behind gated access, with gas and electricity individually metered for each unit.
Located in Hawthorne, California, the property is a short distance from SoFi Stadium. Its combination of unit variety, controlled parking access, and separately metered utilities provides a clear operating profile for multifamily ownership.
Located in Hawthorne, California, the property is a short distance from SoFi Stadium. Its combination of unit variety, controlled parking access, and separately metered utilities provides a clear operating profile for multifamily ownership.
Key Highlights
- Eight‑unit apartment property built in 1985
- Unit mix includes one 3‑bedroom, six 2‑bedroom, and one 1‑bedroom unit
- Unit mix includes 1 three‑bedroom/1.5‑bathroom unit
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
$118,557
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
5.51%
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%
$2,371,140
$2.4M
Cap Rate 7%
$1,693,671
$1.7M
Cap Rate 9%
$1,317,300
$1.3M
Market Conditions
NOI Build-Up for 7,368 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
$234.3K $31.80/SF
− Vacancy
−$18.7K −$2.54/SF
EGI
$215.6K $29.26/SF
− OpEx
−$97.0K −$13.17/SF
NOI
$118.6K $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%
$2,371,140
Cap Rate 7%
$1,693,671
Cap Rate 9%
$1,317,300
Alternative Uses
Best Use
Apartment 5plus
$1.69M
$1.48M – $1.98M
NOI $118,557 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.94M
$3.45M – $4.60M
NOI $276,136 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,321
Businesses Nearby
Explore this area
Business Placement
Demographics for 90250, CA
97,653
Population
34,105
Households
2.9
Avg Household Size
35
Median Age
26%
College-Educated
79%
High-School Grad
6.8 sq mi
ZIP Area
14,361
Density / Sq Mi
$74,923
Median Household Income
$40,288
Median Earnings
$1,723
Median Rent
$827,600
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 - Built in 1985, the property offers gated parking and separately metered gas and electricity.
Where is this apartment building located?
The property is located at 4838 W 118th St Hawthorne, CA.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Eight‑unit apartment property built in 1985; Unit mix includes one 3‑bedroom, six 2‑bedroom, and one 1‑bedroom unit; Unit mix includes 1 three‑bedroom/1.5‑bathroom unit
