Turnkey 7-Unit Multifamily
For Sale
$2,200,000
6221 Corona, Bell, CA 90201
Fully renovated seven-unit multifamily set across three buildings, with a mix of 1-, 2-, and 3-bedroom layouts.
Property Size4,801 SF
Days on Market76
Property Features for 6221 Corona
General Information
Standard status
Active
Size
4,801 SF
Property subtype
Apartment
Building Details
Building Size
4,801 SF
Year Built
1920
Listing Agency:
Keller Williams SELA
(562) 842-7248
Listed By:
Victor Ambriz Jr · License #00952349
Source:
Velocityrealtysd
Added: Jun 10
Changed: Aug 23
Last Checked: Aug 22 at 1:21PM
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 Keller Williams SELA
Investment Insights
Based on property information with market context.
This fully renovated 7-unit multifamily property includes three separate buildings totaling 4,801 square feet, set on a 10,435 SF lot. All units were comprehensively remodeled in 2025 to a modern standard. The unit mix offers one detached 2 bed/1 bath unit with a private yard, one 3 bed/2 bath unit, four 1 bed/1 bath units, and one 1 bed/1 bath ADU, creating multiple tenant size options within a low-maintenance configuration.
Located in the city of Bell, the property is presented as a turnkey investment with existing in-place occupancy. The offering notes the property is currently 100% occupied, providing immediate leasing continuity rather than requiring new tenant placements.
For buyers seeking a renovated, ready-to-operate income asset, the established 7 legal units and 2025 remodels are central to the appeal. The diversified mix of studios to larger bedroom counts can support a broad tenant base, while the described multi-building, consolidated layout is designed for straightforward day-to-day management. The materials also cite a 5.84% cap rate and a GRM of 11.66 based on current performance figures provided with the listing.
Located in the city of Bell, the property is presented as a turnkey investment with existing in-place occupancy. The offering notes the property is currently 100% occupied, providing immediate leasing continuity rather than requiring new tenant placements.
For buyers seeking a renovated, ready-to-operate income asset, the established 7 legal units and 2025 remodels are central to the appeal. The diversified mix of studios to larger bedroom counts can support a broad tenant base, while the described multi-building, consolidated layout is designed for straightforward day-to-day management. The materials also cite a 5.84% cap rate and a GRM of 11.66 based on current performance figures provided with the listing.
Key Highlights
- Fully renovated 7‑unit multifamily built in 1960, set across three separate buildings
- All units remodeled in 2025, offering updated interiors across the full 7‑unit mix
- 4,801 SF total across three buildings on a 10,435 SF lot
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
$77,252
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
3.51%
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%
$1,545,040
$1.5M
Cap Rate 7%
$1,103,600
$1.1M
Cap Rate 9%
$858,356
$858.4K
Market Conditions
NOI Build-Up for 4,801 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
$152.7K $31.80/SF
− Vacancy
−$12.2K −$2.54/SF
EGI
$140.5K $29.26/SF
− OpEx
−$63.2K −$13.17/SF
NOI
$77.3K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /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%
$1,545,040
Cap Rate 7%
$1,103,600
Cap Rate 9%
$858,356
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$965.7K – $1.29M
NOI $77,252 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.57M
$2.25M – $3.00M
NOI $179,931 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,681
Businesses Nearby
Explore this area
Business Placement
Demographics for 90201, CA
95,810
Population
24,989
Households
3.8
Avg Household Size
32
Median Age
7%
College-Educated
55%
High-School Grad
6.0 sq mi
ZIP Area
15,968
Density / Sq Mi
$56,824
Median Household Income
$30,264
Median Earnings
$1,623
Median Rent
$542,800
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 - Fully renovated seven-unit multifamily set across three buildings, with a mix of 1-, 2-, and 3-bedroom layouts.
Where is this apartment building located?
The property is located at 6221 Corona Bell, CA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Fully renovated 7‑unit multifamily built in 1960, set across three separate buildings; All units remodeled in 2025, offering updated interiors across the full 7‑unit mix; 4,801 SF total across three buildings on a 10,435 SF lot
