Multifamily Income
For Sale
$1,500,000
Pending
4932 Lennox, Inglewood, CA 90304
Eight-unit residential income property on an LCR3YY-zoned lot, with a mix of 2+1 and 1+1 units.
Property Size6,836 SF
Days on Market88
Property Features for 4932 Lennox
General Information
Standard status
Pending
Size
6,836 SF
Property subtype
Apartment
Building Details
Building Size
6,836 SF
Year Built
1961
Listing Agency:
Lyon Stahl Investment Real Estate, Inc.
Listed By:
Cameron Samimi · License #02035763
(310) 259-7556
Source:
Archetyperealty
Added: Jun 10
Changed: Sep 2
Last Checked: Sep 5 at 5:34AM
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 Lyon Stahl Investment Real Estate, Inc.
Investment Insights
Based on property information with market context.
4932 Lennox Blvd is an 8-unit residential income property located on an 8,262 SF LCR3YY-zoned lot. The building includes seven 2+1 units and one 1+1 unit.
The property is presented as a value-add opportunity in Inglewood, with access to major employment and entertainment demand. The listing notes the asset is just minutes from SoFi Stadium, Intuit Dome, Hollywood Park, YouTube Theater, and LAX.
According to the remarks, current rents are below market and there is projected annual rental upside of more than $87,000. The existing layout is described as potentially supporting up to four ADUs, subject to City of Inglewood verification. Buyer to verify all development potential with the City of Inglewood.
The property is presented as a value-add opportunity in Inglewood, with access to major employment and entertainment demand. The listing notes the asset is just minutes from SoFi Stadium, Intuit Dome, Hollywood Park, YouTube Theater, and LAX.
According to the remarks, current rents are below market and there is projected annual rental upside of more than $87,000. The existing layout is described as potentially supporting up to four ADUs, subject to City of Inglewood verification. Buyer to verify all development potential with the City of Inglewood.
Key Highlights
- Eight‑unit multifamily on an 8,262 SF LCR3YY‑zoned lot
- Unit mix: (7) 2+1 units and (1) 1+1 unit
- Projected annual rental upside of over $87,000 from rents below market
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
$84,675
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
5.65%
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%
$1,693,500
$1.7M
Cap Rate 7%
$1,209,643
$1.2M
Cap Rate 9%
$940,833
$940.8K
Market Conditions
NOI Build-Up for 6,836 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
$155.0K $22.68/SF
− Vacancy
−$1.1K −$0.16/SF
EGI
$154.0K $22.52/SF
− OpEx
−$69.3K −$10.13/SF
NOI
$84.7K $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%
$1,693,500
Cap Rate 7%
$1,209,643
Cap Rate 9%
$940,833
Alternative Uses
Best Use
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,675 @ 7.0% cap · market cap 5.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.79M
$2.44M – $3.25M
NOI $195,236 @ 7.0% cap · market cap 13.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,382
Businesses Nearby
Explore this area
Business Placement
Demographics for 90304, CA
26,058
Population
7,673
Households
3.4
Avg Household Size
33
Median Age
14%
College-Educated
56%
High-School Grad
1.6 sq mi
ZIP Area
16,286
Density / Sq Mi
$63,317
Median Household Income
$31,385
Median Earnings
$1,499
Median Rent
$696,200
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 - Eight-unit residential income property on an LCR3YY-zoned lot, with a mix of 2+1 and 1+1 units.
Where is this apartment building located?
The property is located at 4932 Lennox Inglewood, CA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Eight‑unit multifamily on an 8,262 SF LCR3YY‑zoned lot; Unit mix: (7) 2+1 units and (1) 1+1 unit; Projected annual rental upside of over $87,000 from rents below market
