11-Unit Bungalow Apartment
For Sale
$3,100,000
949 N Cedar St, Inglewood, CA 90302
Low-density apartment community with private garages, open parking, and washer-dryer hookups.
Property Size8,681 SF
Lot Size0.64 Acres
Days on Market79
Property Features for 949 N Cedar St
General Information
Standard status
Active
Size
8,681 SF
Lot size
0.64 Acres
Property subtype
MULTI_FAMILY
Units
Unit Mix
10 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
11
Additional Details
Road Access
Yes
Amenities
in-unit washer and dryer hookups
Building Details
Building Size
8,681 SF
Year Built
1948
Buildings
7
Construction
bungalow-style
Listing Agency:
BRC Advisors- BH
(424) 325-2604
Listed By:
John Katnik · License #02002695
Source:
Evecap
Added: Jun 16
Changed: Aug 31
Last Checked: Sep 2 at 1:48AM
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 11-unit apartment property comprises seven separate bungalow-style structures on a 27,744-square-foot lot. Built in 1948, the unit mix includes ten two-bedroom, one-bath residences and one non-conforming one-bedroom, one-bath residence. Each two-bedroom unit has a private one-car garage and an additional open parking space behind the garage, with more open parking positioned across the rear of the property. All residences include in-unit washer and dryer hookups.
The property is located at 949 N Cedar St in Inglewood’s North Inglewood submarket, just off Centinela Avenue. Its setting provides access to major employment centers and transportation corridors, while the surrounding area is described as undergoing redevelopment.
The property is located at 949 N Cedar St in Inglewood’s North Inglewood submarket, just off Centinela Avenue. Its setting provides access to major employment centers and transportation corridors, while the surrounding area is described as undergoing redevelopment.
Key Highlights
- 11 units across seven separate bungalow‑style structures
- Unit mix includes ten 2‑bedroom/1‑bath units and one non‑conforming 1‑bedroom/1‑bath unit
- 27,744‑square‑foot lot with additional open parking throughout the rear
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
$107,529
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
3.47%
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%
$2,150,580
$2.2M
Cap Rate 7%
$1,536,129
$1.5M
Cap Rate 9%
$1,194,767
$1.2M
Market Conditions
NOI Build-Up for 8,681 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
$196.9K $22.68/SF
− Vacancy
−$1.4K −$0.16/SF
EGI
$195.5K $22.52/SF
− OpEx
−$88.0K −$10.13/SF
NOI
$107.5K $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%
$2,150,580
Cap Rate 7%
$1,536,129
Cap Rate 9%
$1,194,767
Alternative Uses
Best Use
Apartment 5plus
$1.54M
$1.34M – $1.79M
NOI $107,529 @ 7.0% cap · market cap 3.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.54M
$3.10M – $4.13M
NOI $247,929 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,624
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 - Low-density apartment community with private garages, open parking, and washer-dryer hookups.
Where is this apartment building located?
The property is located at 949 N Cedar St Inglewood, CA.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: 11 units across seven separate bungalow‑style structures; Unit mix includes ten 2‑bedroom/1‑bath units and one non‑conforming 1‑bedroom/1‑bath unit; 27,744‑square‑foot lot with additional open parking throughout the rear
