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 Market119
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 14
Changed: Oct 10
Last Checked: Oct 10 at 1:36AM
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 / Yr
$166,333
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
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
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 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
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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
