5-Unit Apartment
New
For Sale
$1,350,000
515 S Grevillea Avenue, Inglewood, CA 90301
Major systems were upgraded, and residents have access to an on-site laundry room.
Property Size4,895 SF
Lot Size0.17 Acres
Price / SF$275.79
Days on Market3
Property Features for 515 S Grevillea Avenue
General Information
Standard status
Active
Size
4,895 SF
Net Rentable
4,895 SF
Total Parking Spaces
8
Lot size
0.17 Acres
Property subtype
Residential Income
Financials
Asking Price
$1,350,000
Cap Rate
6.41%
Gross Rent Multiplier
9.85
Units
Unit Mix
2 x 1BR/1BA, 1 x 2BR/1BA, 2 x 2BR/2BA
Multifamily Units
5
Amenities
on-site laundry room
Building Details
Year Built
1963
Listing Agency:
BRC Advisors- BH
Listed By:
John Katnik · License #02002695
(310) 956-2291
Source:
Exprealty
Added: Oct 19
Changed: Oct 21
Last Checked: Oct 21 at 2:03AM
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 BRC Advisors- BH
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Investment Insights
Based on property information with market context.
Built in 1963, this five-unit apartment property contains 4,895 square feet on a 7,557-square-foot lot. The unit mix includes two 1-bedroom/1-bathroom apartments, one 2-bedroom/1-bathroom apartment, and two 2-bedroom/2-bathroom apartments. An on-site laundry room serves the building, and parking comprises five covered carport spaces and three single-car garages.
Major work completed approximately 10 years ago included electrical improvements, copper plumbing, vinyl windows, heating and air conditioning units, and a new roof. Interior upgrades and ongoing maintenance are also noted. The property is near SoFi Stadium, the Hollywood Park development, and the Intuit Dome, as well as employment and transportation corridors.
The stated current capitalization rate is 6.41%, with a 9.85 gross income multiplier. Pro forma figures are a 7.48% capitalization rate and an 8.84 pro forma GIM.
Major work completed approximately 10 years ago included electrical improvements, copper plumbing, vinyl windows, heating and air conditioning units, and a new roof. Interior upgrades and ongoing maintenance are also noted. The property is near SoFi Stadium, the Hollywood Park development, and the Intuit Dome, as well as employment and transportation corridors.
The stated current capitalization rate is 6.41%, with a 9.85 gross income multiplier. Pro forma figures are a 7.48% capitalization rate and an 8.84 pro forma GIM.
Key Highlights
- Five apartments with a mix of 1‑bedroom and 2‑bedroom layouts
- 4,895 square feet on a 7,557‑square‑foot lot; built in 1963
- Major upgrades approximately 10 years ago included electrical work, copper plumbing, vinyl windows, HVAC units, and a new roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,633
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,212,660
$1.2M
Cap Rate 7%
$866,186
$866.2K
Cap Rate 9%
$673,700
$673.7K
Market Conditions
NOI Build-Up for 4,895 SF
Gross rent
$111.0K $22.68/SF
− Vacancy
−$777 −$0.16/SF
EGI
$110.2K $22.52/SF
− OpEx
−$49.6K −$10.13/SF
NOI
$60.6K $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 Rate 5%
$1,212,660
Cap Rate 7%
$866,186
Cap Rate 9%
$673,700
Alternative Uses
Best Use
Apartment 5plus
$866.2K
$757.9K – $1.01M
NOI $60,633 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $139,801 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,932
Businesses Nearby
Explore this area
Business Placement
Demographics for 90301, CA
36,270
Population
12,884
Households
2.8
Avg Household Size
37
Median Age
20%
College-Educated
73%
High-School Grad
2.5 sq mi
ZIP Area
14,508
Density / Sq Mi
$62,991
Median Household Income
$33,884
Median Earnings
$1,658
Median Rent
$698,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Major systems were upgraded, and residents have access to an on-site laundry room.
Where is this apartment building located?
The property is located at 515 S Grevillea Avenue Inglewood, CA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Five apartments with a mix of 1‑bedroom and 2‑bedroom layouts; 4,895 square feet on a 7,557‑square‑foot lot; built in 1963; Major upgrades approximately 10 years ago included electrical work, copper plumbing, vinyl windows, HVAC units, and a new roof
