Renovated 28-Unit Apartment
For Sale
$9,250,000
621 E 99th Street, Inglewood, CA 90301
Substantially upgraded apartment property with modern resident amenities, renovated interiors, gated parking, garages, and a pool area.
Property Size23,580 SF
Price / SF$392.28
Days on Market62
Property Features for 621 E 99th Street
General Information
Standard status
Active
Size
23,580 SF
Total Parking Spaces
42
Property subtype
Multi-family
Additional Details
Multifamily Units
28
Amenities
fitness center
community restroom
washers and dryers
central air conditioning and heating
pool
outdoor tables and chairs
BBQ area
gathering spaces
Building Details
Year Built
1964
Listing Agency:
BRC Advisors- BH,
Listed By:
John Katnik
(714) 497-3550
Source:
Sevengables
Added: Jul 7
Changed: Sep 6
Last Checked: Sep 6 at 9:35AM
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,
Investment Insights
Based on property information with market context.
This 28-unit apartment community in Inglewood includes a 23,580-square-foot building constructed in 1964. Ownership has completed interior renovations in 26 units, along with updates to the electrical, plumbing, roof, and windows. Every unit includes a washer and dryer plus central air conditioning and heating. Property improvements also include a fitness center converted from storage space, a renovated community restroom, and water-saving plumbing fixtures.
Resident amenities extend outdoors with a maintained pool area, BBQ space, tables and chairs, and additional gathering areas. Parking includes 28 gated spaces and 14 garage spaces. The property is located at 621 E 99th Street, within walking distance of SoFi Stadium and minutes from Hollywood Park and Intuit Dome.
Resident amenities extend outdoors with a maintained pool area, BBQ space, tables and chairs, and additional gathering areas. Parking includes 28 gated spaces and 14 garage spaces. The property is located at 621 E 99th Street, within walking distance of SoFi Stadium and minutes from Hollywood Park and Intuit Dome.
Key Highlights
- 28‑unit apartment community with 23,580 square feet
- 26 of 28 units have completed interior renovations
- Electrical, plumbing, roof, and window upgrades completed
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
$292,078
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
3.16%
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%
$5,841,560
$5.8M
Cap Rate 7%
$4,172,543
$4.2M
Cap Rate 9%
$3,245,311
$3.2M
Market Conditions
NOI Build-Up for 23,580 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
$534.8K $22.68/SF
− Vacancy
−$3.7K −$0.16/SF
EGI
$531.1K $22.52/SF
− OpEx
−$239.0K −$10.13/SF
NOI
$292.1K $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%
$5,841,560
Cap Rate 7%
$4,172,543
Cap Rate 9%
$3,245,311
Alternative Uses
Best Use
Apartment 5plus
$4.17M
$3.65M – $4.87M
NOI $292,078 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.62M
$8.42M – $11.22M
NOI $673,445 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
28
Residential units
Location Intelligence
Trade Area within ½ mile
1,715
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Substantially upgraded apartment property with modern resident amenities, renovated interiors, gated parking, garages, and a pool area.
Where is this apartment building located?
The property is located at 621 E 99th Street Inglewood, CA.
What is the asking price?
The asking price for this property is $9,250,000.
What are key features of this property?
This property features: 28‑unit apartment community with 23,580 square feet; 26 of 28 units have completed interior renovations; Electrical, plumbing, roof, and window upgrades completed
