UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Pending
Purchase Type For Sale
MLS Listing ID SB25060628
HOA Y/N No
Year Built 1961
Lot Size 0.368 Acres
Property Sub-Type Apartment
Property Description
Offered at a 5.61% CAP, 10.92 GRM, $206,667/unit and $264/sqft with 46% rental upside, this asset presents an excellent value-add opportunity for investors.
The property spans 11,740 sqft, offering a favorable mix of (9) 2-bed/1-bath and (6) 1-bed/1-bath units across two separate buildings on a single APN. Situated on a spacious 16,016 sqft corner lot on the west side of Western Ave, the property is conveniently located near El Camino College, Alondra Park, and Lincoln Elementary School.
Additional amenities include 15 tandem parking spaces (30 total), two laundry rooms (each with leased W/D combos), a grassy yard, a central courtyard, and separate meters for gas and electricity. Rents are due for a rent increase of 5% + CPI (currently 8.9%), presenting an immediate opportunity for income growth.
There are also significant ADU possibilities for (3) 3-bed/2-bath units in the covered parking while still maintaining on-site parking for tenants.
Inquire about debt quotes at 60% LTV, 5-year fixed rate at 5.95%. Underwriting and loan data reflect allowable rent increases. Please reach out for the Offering Memorandum.
Location
State CA
County Los Angeles
Area 119 - Central Gardena
Zoning GAR3
Interior
Heating Central
Cooling None
Fireplaces Type None
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 1.0
Carport Spaces 14
Garage Description 1.0
Pool None
Community Features Biking
Total Parking Spaces 30
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4066024021
Energy Description 3860.0
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard, Trust
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Paul Ward
Broker Associate | License ID: 01354001
Broker Associate License ID: 01354001
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