Save
Ask
Tour
Hide
Share
$12,600,000
67 Days Online

13629 Kornblum Avenue
Hawthorne, CA 90250

For Sale|Multi-Family|Active
County:
Los Angeles
Listed by Martin Ensbury of Lyon Stahl Investment Real Estate, Inc.

Due to the health concerns created by Coronavirus we are offering personal 1-1 online video walkthough tours where possible.

Call Now: 310-902-7214
Is this the home for you? We can help make it yours.
310-902-7214
13629 Kornblum Avenue13629 Kornblum Avenue13629 Kornblum Avenue13629 Kornblum Avenue
Save
Ask
Tour
Hide
Share

Palm View Village Apartments is a 44-unit, value-add multifamily opportunity in Hawthorne, CA. The property is located at 13629 Kornblum Ave., Hawthorne, CA 90250 and is situated between Prairie Ave. to the west and Crenshaw Blvd to the east., one block south of 135th St. The surrounding area is in the midst of substantial growth as a result of the SpaceX headquarters and Hollywood Park redevelopment, which includes the new SOFi Stadium, The Forum, and the Intuit Dome, which will be the LA Clippers new home arena. The property, built in 1970, features a well-balanced unit mix of (2) Studios, (23) 1 Bd/1 Ba units, and (19) 2 Bd/1 Ba units. Situated on a large (39,036 sq. ft.) lot, the building is well-parked with 40 covered parking spaces, which are a mix of carports and tuck-under parking. Recent upgrades include completion of the seismic retrofit work, a new exterior façade and light interior rehabs as units have become vacant. The units are separately metered for electricity and master metered for gas and water. The owner has done an excellent job pushing rents over the past few years and has been successful in achieving top of the market rents. The onsite laundry leased from WASH provides an additional income stream. The property is offered at $12,600,000, with pricing indicators of $286,364 per unit, $400.58 per sq. ft., 13.10 GRM and 4.88% Cap Rate! Despite the solid in place income, there is still considerable rent upside in a market that has experienced substantial rent growth over the past few years. A new owner should be able to significantly increase the value of this asset by remodeling the remaining units and bringing rents to market as they become vacant. OM is included as a supplement to this listing.

Save
Ask
Tour
Hide
Share
Listing Snapshot
Price 
$12,600,000
Days Online 
67 Days
Bedrooms 
N/A
Inside Area (SqFt) 
31,454 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.8961 Acres
Year Built 
1970
MLS Number 
SB23008130
Status 
Active
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
3 weeks agoListing updated with changes from the MLS
3 weeks agoPrice changed to $12,600,000
2 months agoListing first seen online
General Features
Parking 
Attached CarportDetached Carport
Parking Spaces 
0
Sewer 
Public Sewer
Number of Stories 
2
Acreage 
0.8961
Water 
Public
Property Sub Type 
Apartment
Garage Spaces 
0
Zoning 
HAR3YY
Listing Conditions 
Standard
Interior Features
Laundry Features 
Common Area
Save
Ask
Tour
Hide
Share
Exterior Features
Pool Features 
None
Lot 
Item3640 Units Acre
Community Features
Association Dues 
0
Community Features 
SidewalksUrban
Senior Community 
No
MLS Area 
699 - Not Defined


This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Neighborhood & Commute
Source: Walkscore
Save
Ask
Tour
Hide
Share