Turnkey Renovated Apartment
For Sale
Contact for pricing
720 North Market Street, Inglewood, CA 90302
A fully renovated 16-unit multifamily property with updated solar, roofing, HVAC, and electrical systems.
Property Size13,918 SF
Price / SF$395.17
Days on Market77
Property Features for 720 North Market Street
General Information
Standard status
Active
Size
13,918 SF
Class
A
Property subtype
Multifamily
Zoning
INR3YY
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$285,280
Additional Details
Business Included
Yes
Multifamily Units
16
Building Details
Year Built
1964
Year Renovated
2020
Units
16
Tenancy
Multi
Listing Agency:
Centennial Advisers
(714) 231-2537
Listed By:
Justin White · License #CA 00875427
Source:
Crexi
Added: May 29
Changed: Aug 12
Last Checked: Aug 12 at 10:41AM
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 Centennial Advisers
Investment Insights
Based on property information with market context.
This 16-unit multifamily apartment building at 720 N. Market Street has been substantially renovated and positioned for turnkey ownership. Recent capital improvements include new solar panels, all 16 units remodeled, 88 windows replaced, upgraded electrical panel work with 16 sub-panels, and installation of 16 Nest thermostats. The building also received a copper re-pipe, a new roof, a new HVAC system, plus an on-site security system and gated entry.
The property is located in the growing North Inglewood sub market of Los Angeles and is described as within walking distance to the Metro Purple line. A number of major employers are listed within a 5-mile radius, including LAX Airport, SpaceX, Intuit Dome, Kia Forum, SoFi Stadium, Northrop Grumman, Kaiser Permanente, and multiple hospitals.
For buyers and operators, the key takeaway is that the asset features extensive modernization across both unit interiors and core building systems, supporting straightforward readiness for continued rental operations. The proximity to the Metro Purple line and the density of nearby employers make it a practical fit for tenants who commute within Los Angeles and the South Bay.
The property is located in the growing North Inglewood sub market of Los Angeles and is described as within walking distance to the Metro Purple line. A number of major employers are listed within a 5-mile radius, including LAX Airport, SpaceX, Intuit Dome, Kia Forum, SoFi Stadium, Northrop Grumman, Kaiser Permanente, and multiple hospitals.
For buyers and operators, the key takeaway is that the asset features extensive modernization across both unit interiors and core building systems, supporting straightforward readiness for continued rental operations. The proximity to the Metro Purple line and the density of nearby employers make it a practical fit for tenants who commute within Los Angeles and the South Bay.
Key Highlights
- Fully renovated 16‑unit multifamily property, built in 1964
- Recent major capital improvements include new solar panels, new roof, and copper re‑pipe of entire building
- Electrical updates: electrical panel upgraded, 16 sub‑panels upgraded
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
$172,398
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
3.13%
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%
$3,447,960
$3.4M
Cap Rate 7%
$2,462,829
$2.5M
Cap Rate 9%
$1,915,533
$1.9M
Market Conditions
NOI Build-Up for 13,918 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
$315.7K $22.68/SF
− Vacancy
−$2.2K −$0.16/SF
EGI
$313.5K $22.52/SF
− OpEx
−$141.1K −$10.13/SF
NOI
$172.4K $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%
$3,447,960
Cap Rate 7%
$2,462,829
Cap Rate 9%
$1,915,533
Alternative Uses
Best Use
Apartment 5plus
$2.46M
$2.15M – $2.87M
NOI $172,398 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.68M
$4.97M – $6.62M
NOI $397,498 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,200
Businesses Nearby
Explore this area
Business Placement
Demographics for 90302, CA
29,264
Population
11,366
Households
2.6
Avg Household Size
36
Median Age
30%
College-Educated
81%
High-School Grad
1.9 sq mi
ZIP Area
15,402
Density / Sq Mi
$72,461
Median Household Income
$37,675
Median Earnings
$1,784
Median Rent
$731,300
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 - A fully renovated 16-unit multifamily property with updated solar, roofing, HVAC, and electrical systems.
Where is this apartment building located?
The property is located at 720 North Market Street Inglewood, CA.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Fully renovated 16‑unit multifamily property, built in 1964; Recent major capital improvements include new solar panels, new roof, and copper re‑pipe of entire building; Electrical updates: electrical panel upgraded, 16 sub‑panels upgraded
