Property listed by Shield CRE, Inc., Jonathan Nikfarjam 310-593-9869
$3,950,000
Prime South Bay Location: 16-unit apartment situated on a large 14,411-SF lot in a highly desirable Lawndale location, west of Hawthorne Boulevard, 2 blocks from South Bay Galleria and just 3 blocks from Redondo Beach. Exceptional ADU Potential: Large lot and ample parking areas present the opportunity to add… Read More up to 8 ADUs, including the potential to convert space above carport spaces into 2 new ADUs without eliminating any parking (Buyer to Verify). Strong Cash Flow & Rental Upside: 5.90% current cap rate and 10.67 GRM, with upside to a 6.64% pro-forma cap and 9.80 GRM, or a 6.52% current cap and 7.26% pro-forma cap with the implementation of RUBs. Recent Capital Improvements: Property features new main electrical, new electrical subpanels in each unit (2026), newer roof (2023), upgraded units, and recent exterior and landscaping improvements. Value-Add Utility Reimbursement Opportunity: Master-metered for gas and electricity, providing investors with the opportunity to implement RUBs to recapture utility expenses and improve operating efficiency. Favorable Property Attributes: On-site laundry facility, 16 parking spaces, and no local rent control (AB 1482 only). Read Less
Listing Snapshot
Days Online
44
Last Updated
Beds
16
3/4 Baths
16
Square Ft.
8,165
Lot Size
0.33 Acres
Year Built
1959
MLS Number
26859087
Additional Details
Building
Built in 1959, Living area: 8165.0, 1 building, 2 stories, Levels: Two
Income
Gross Income: $374,593, Net Operating Income: $233,147
Laundry
LaundryRoom
Lot
0.3308 acres
Parking
16 carport spaces, 16 total parking spaces, Covered
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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