6-Unit Apartment
6714 Parmelee Ave, Los Angeles, CA 90001
For Sale
$833,000
Gated property with individual gas and electric meters and both open-air and covered parking.
Property Size2,506 SF
Lot Size0.12 Acres
Price / SF$332.40
Days on Market47
Property Features for 6714 Parmelee Ave
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Occupancy
Site & Location
Neighborhood
Road Access
Public Transit
Utilities to Site
Units
Unit Mix
Multifamily Units
Additional Details
Cap Rate
Amenities
gated access
Priced Below Replacement Cost
Approximately 29% Rental Upside
Six Total Units: 5 Legal + 1 Non-Conforming
Six Parking Spaces
Gated Access
Individually Metered for Gas & Electricity
Building Details
Building Size
Year Built
Units
Listing Agency:
Encino Office
Listed By:
Sev Keshishian · License #License(s): CA: 01887505
(818) 212-2694
Source:
Marcusmillichap
Added: Sep 24
Changed: Oct 26
Last Checked: Nov 8 at 2:14AM
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 Encino Office
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Investment Insights
Based on property information with market context.
This apartment property contains six one-bedroom, one-bathroom units, including five legal units and one non-conforming unit. The building measures approximately 2,506 SF on a 5,237 SF lot and dates to 1963. LCR3YY zoning applies. Six parking spaces are provided: two open-air spaces and four covered carport spaces at the rear. Gated access and individual gas and electric meters are also in place.
Miramonte Elementary School is directly across the street. The property is one block west of Compton Ave and a few blocks south of Gage Ave, with access to public transportation, employment centers, and neighborhood amenities in South Los Angeles.
Miramonte Elementary School is directly across the street. The property is one block west of Compton Ave and a few blocks south of Gage Ave, with access to public transportation, employment centers, and neighborhood amenities in South Los Angeles.
Key Highlights
- Six one‑bedroom/one‑bathroom units: five legal and one non‑conforming
- Approximately 2,506 SF of building area on a 5,237 SF lot
- Six parking spaces: two open‑air and four covered carport spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,324
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$806,480
$806.5K
Cap Rate 7%
$576,057
$576.1K
Cap Rate 9%
$448,044
$448.0K
Market Conditions
NOI Build-Up for 2,506 SF
Gross rent
$79.7K $31.80/SF
− Vacancy
−$6.4K −$2.54/SF
EGI
$73.3K $29.26/SF
− OpEx
−$33.0K −$13.17/SF
NOI
$40.3K $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 Rate 5%
$806,480
Cap Rate 7%
$576,057
Cap Rate 9%
$448,044
Alternative Uses
Best Use
Apartment 5plus
$576.1K
$504.1K – $672.1K
NOI $40,324 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$915.5K – $1.22M
NOI $73,240 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,490
Businesses Nearby
Explore this area
Business Placement
Demographics for 90001, CA
55,859
Population
13,998
Households
4
Avg Household Size
30
Median Age
7%
College-Educated
49%
High-School Grad
3.3 sq mi
ZIP Area
16,927
Density / Sq Mi
$60,751
Median Household Income
$30,672
Median Earnings
$1,471
Median Rent
$513,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Los Angeles, CA
Properties on Market for Apartment buildings in Los Angeles
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Gated property with individual gas and electric meters and both open-air and covered parking.
Where is this apartment building located?
The property is located at 6714 Parmelee Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $833,000.
What are key features of this property?
This property features: Six one‑bedroom/one‑bathroom units: five legal and one non‑conforming; Approximately 2,506 SF of building area on a 5,237 SF lot; Six parking spaces: two open‑air and four covered carport spaces
