12-Unit Apartment Building with
For Sale
$2,995,000
6150 E Olympic Boulevard, Los Angeles, CA 90022
Occupied multifamily property with varied bedroom layouts, garage parking, on-site laundry, and separately metered gas and electricity.
Property Size7,956 SF
Price / SF$376.45
Days on Market88
Property Features for 6150 E Olympic Boulevard
General Information
Standard status
Active
Size
7,956 SF
Property subtype
Multi-family
Building Details
Year Built
1962
Listing Agency:
Remax Commercial and Investment Realty
Listed By:
Shant Sherbetdjian · License #01713570
(213) 817-1000
Source:
Sevengables
Added: Jun 30
Changed: Sep 24
Last Checked: Sep 24 at 10:15AM
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 Remax Commercial and Investment Realty
Investment Insights
Based on property information with market context.
This 12-unit apartment community at 6150 E Olympic Blvd includes four 2-bedroom/1-bath residences and eight 1-bedroom/1-bath residences. The property was built in 1962 and offers a pool, garage parking, and on-site laundry. Gas and electricity are separately metered by tenants, and a Ratio Utility Billing System (RUBS) has been implemented. All units are currently occupied, and the property is subject to the Unincorporated Los Angeles County Rent Stabilization Ordinance.
The property is positioned on East Olympic Blvd between South Hendricks Ave and Hanover Ave, east of Garfield Avenue and adjacent to Montebello. Whittier Boulevard restaurants, shopping, and entertainment are minutes away, while access to the 5, 710, and 60 Freeways connects the property with Downtown Los Angeles and surrounding areas. The property is zoned LCR3YY and reports a current 6.17% cap rate.
The property is positioned on East Olympic Blvd between South Hendricks Ave and Hanover Ave, east of Garfield Avenue and adjacent to Montebello. Whittier Boulevard restaurants, shopping, and entertainment are minutes away, while access to the 5, 710, and 60 Freeways connects the property with Downtown Los Angeles and surrounding areas. The property is zoned LCR3YY and reports a current 6.17% cap rate.
Key Highlights
- 12‑unit apartment community with four 2‑bedroom/1‑bath units and eight 1‑bedroom/1‑bath units
- Current 6.17% cap rate
- Pool, garage parking, and on‑site laundry
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
$166,333
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
5.55%
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%
$3,326,660
$3.3M
Cap Rate 7%
$2,376,186
$2.4M
Cap Rate 9%
$1,848,144
$1.8M
Market Conditions
NOI Build-Up for 7,956 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
$304.6K $38.28/SF
− Vacancy
−$2.1K −$0.27/SF
EGI
$302.4K $38.01/SF
− OpEx
−$136.1K −$17.11/SF
NOI
$166.3K $20.91/SF
Area
ZIP 90022
Vacancy
0.70%
Lease Rate
$38.28 /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%
$3,326,660
Cap Rate 7%
$2,376,186
Cap Rate 9%
$1,848,144
Alternative Uses
Best Use
Apartment 5plus
$2.38M
$2.08M – $2.77M
NOI $166,333 @ 7.0% cap · market cap 5.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.24M
$2.84M – $3.78M
NOI $226,909 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
6,114
Businesses Nearby
Explore this area
Business Placement
Demographics for 90022, CA
64,517
Population
17,845
Households
3.6
Avg Household Size
34
Median Age
10%
College-Educated
56%
High-School Grad
4.4 sq mi
ZIP Area
14,663
Density / Sq Mi
$67,829
Median Household Income
$32,304
Median Earnings
$1,407
Median Rent
$603,500
Median Home Value
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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 - Occupied multifamily property with varied bedroom layouts, garage parking, on-site laundry, and separately metered gas and electricity.
Where is this apartment building located?
The property is located at 6150 E Olympic Boulevard Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: 12‑unit apartment community with four 2‑bedroom/1‑bath units and eight 1‑bedroom/1‑bath units; Current 6.17% cap rate; Pool, garage parking, and on‑site laundry
