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10242 S 10th Ave 5 Unit Apartment Building $1,295,000 ($259,000/Unit) 6.93% Cap Rate Inglewood, CA 90303
Investment Highlights
- Attractive 6.93% current cap rate and 9.91 current GRM and pro-forma returns at 8.15% cap rate and 8.81 GRM.
- Renovated through the City of Inglewood/LAX Sound Insulation Program with individual HVAC systems, upgraded electrical & newer windows and doors.
- Recently painted building situated on a large 6,897-SF lot with a total of 5 garage parking spaces.
- Located less than 1 mile from Intuit Dome, SoFi Stadium, Hollywood Park, YouTube Theater, Cosm Los Angeles, and upcoming Inglewood Transit Connector
- Comprised of (4) 2-bedroom/1-bathroom units and (1) 1-bedroom/1-bathroom unit.
- Conveniently located near The Village at Century, Costco, Target, SpaceX, Tesla Design Center, the Crenshaw/LAX Metro Line, and LAX Airport.
Executive Summary
ASSET
5-unit apartment in Inglewood. The asset is situated on a large 6,897-SF corner lot and is comprised of (4) 2-bedroom/1-bathroom units and (1) 1-bedroom/1-bathroom unit.
The property has been renovated with the City of Inglewood/LAX Sound Insulation Program and features individual HVACs, newer windows, upgraded electrical, newer doors, etc. The building was recently painted and there are a total of 5 garage parking spaces.
LOCATION
The asset is located less than 1 mile from Intuit Dome, SoFi Stadium, Hollywood Park Casino, Cosm Los Angeles, Cinepolis Luxury Cinemas, Youtube Theatre and upcoming $1 Billion Inglewood Transit Connector project. The property is also located within a few blocks of many retail shops and shopping centers of Century Boulevard including, Costco, In-N-Out Burger, Aldi, Target, Home Depot and The Village at Century Shopping Center.
FINANCIALS
10242 S. 10th Avenue has strong in-place income with a current cap rate of 6.93% and current GRM of 9.91. The asset also provides upside potential in rents with a pro-forma cap rate of 8.15% and pro-forma GRM of 8.81.
5-unit apartment in Inglewood. The asset is situated on a large 6,897-SF corner lot and is comprised of (4) 2-bedroom/1-bathroom units and (1) 1-bedroom/1-bathroom unit.
The property has been renovated with the City of Inglewood/LAX Sound Insulation Program and features individual HVACs, newer windows, upgraded electrical, newer doors, etc. The building was recently painted and there are a total of 5 garage parking spaces.
LOCATION
The asset is located less than 1 mile from Intuit Dome, SoFi Stadium, Hollywood Park Casino, Cosm Los Angeles, Cinepolis Luxury Cinemas, Youtube Theatre and upcoming $1 Billion Inglewood Transit Connector project. The property is also located within a few blocks of many retail shops and shopping centers of Century Boulevard including, Costco, In-N-Out Burger, Aldi, Target, Home Depot and The Village at Century Shopping Center.
FINANCIALS
10242 S. 10th Avenue has strong in-place income with a current cap rate of 6.93% and current GRM of 9.91. The asset also provides upside potential in rents with a pro-forma cap rate of 8.15% and pro-forma GRM of 8.81.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$130,692
|
$31.48
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,920
|
$0.94
|
| Effective Gross Income |
$126,772
|
$30.53
|
| Taxes |
$18,130
|
$4.37
|
| Operating Expenses |
$18,939
|
$4.56
|
| Total Expenses |
$37,069
|
$8.93
|
| Net Operating Income |
$89,703
|
$21.60
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $130,692 |
| Annual Per SF | $31.48 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $3,920 |
| Annual Per SF | $0.94 |
| Effective Gross Income | |
|---|---|
| Annual | $126,772 |
| Annual Per SF | $30.53 |
| Taxes | |
|---|---|
| Annual | $18,130 |
| Annual Per SF | $4.37 |
| Operating Expenses | |
|---|---|
| Annual | $18,939 |
| Annual Per SF | $4.56 |
| Total Expenses | |
|---|---|
| Annual | $37,069 |
| Annual Per SF | $8.93 |
| Net Operating Income | |
|---|---|
| Annual | $89,703 |
| Annual Per SF | $21.60 |
Property Facts
| Price | $1,295,000 | Apartment Style | Garden |
| Price Per Unit | $259,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 6.93% | Building Size | 4,152 SF |
| Gross Rent Multiplier | 9.91 | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1955 |
| Property Subtype | Apartment | Parking Ratio | 1.2/1,000 SF |
| Zoning | INM1L* | ||
| Price | $1,295,000 |
| Price Per Unit | $259,000 |
| Sale Type | Investment |
| Cap Rate | 6.93% |
| Gross Rent Multiplier | 9.91 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 4,152 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1955 |
| Parking Ratio | 1.2/1,000 SF |
| Zoning | INM1L* |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $2,246 | - |
| 1+1 | 1 | $1,909 | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
50/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 4030-007-011 | Total Assessment | $1,018,058 |
| Land Assessment | $610,836 | Annual Taxes | $18,130 ($4.37/SF) |
| Improvements Assessment | $407,222 | Tax Year | 2025 |
Property Taxes
Parcel Number
4030-007-011
Land Assessment
$610,836
Improvements Assessment
$407,222
Total Assessment
$1,018,058
Annual Taxes
$18,130 ($4.37/SF)
Tax Year
2025
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