6-Unit Apartment
For Sale
Contact for pricing
614 Myrtle Ave, Inglewood, CA 90301
Six-unit multifamily property suited to residential income use.
Property Size6,538 SF
Price / SF$317.38
Days on Market159
Property Features for 614 Myrtle Ave
General Information
Standard status
Active
Size
6,538 SF
Property subtype
Multifamily
Occupancy
100%
Net Operating Income
$141,187
Additional Details
Multifamily Units
6
Building Details
Buildings
1
Stories
2
Units
6
Listing Agency:
Shield Commercial Real Estate
(310) 880-6807
Listed By:
Jonathan Nikfarjam · License #CA 01856803
Source:
Crexi
Added: Mar 28
Changed: Aug 31
Last Checked: Aug 31 at 7:21PM
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 Shield Commercial Real Estate
Investment Insights
Based on property information with market context.
This apartment property contains 6 units within approximately 6,538 square feet of building area. The asset is classified as an apartment building and is offered for sale as a multifamily property.
The property is located at 614 Myrtle Ave, Inglewood, CA 90301, providing a defined address for evaluating the surrounding residential and commercial context.
The property is located at 614 Myrtle Ave, Inglewood, CA 90301, providing a defined address for evaluating the surrounding residential and commercial context.
Key Highlights
- 6‑unit apartment building
- Approximately 6,538 square feet of building area
- Located at 614 Myrtle Ave, Inglewood, CA 90301
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
$80,984
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
3.90%
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%
$1,619,680
$1.6M
Cap Rate 7%
$1,156,914
$1.2M
Cap Rate 9%
$899,822
$899.8K
Market Conditions
NOI Build-Up for 6,538 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
$148.3K $22.68/SF
− Vacancy
−$1.0K −$0.16/SF
EGI
$147.2K $22.52/SF
− OpEx
−$66.3K −$10.13/SF
NOI
$81.0K $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%
$1,619,680
Cap Rate 7%
$1,156,914
Cap Rate 9%
$899,822
Alternative Uses
Best Use
Apartment 5plus
$1.16M
$1.01M – $1.35M
NOI $80,984 @ 7.0% cap · market cap 3.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.67M
$2.33M – $3.11M
NOI $186,725 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,670
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit multifamily property suited to residential income use.
Where is this apartment building located?
The property is located at 614 Myrtle Ave Inglewood, CA.
What is the asking price?
The asking price for this property is $2,075,000.
What are key features of this property?
This property features: 6‑unit apartment building; Approximately 6,538 square feet of building area; Located at 614 Myrtle Ave, Inglewood, CA 90301
