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$3,850,000
Est. payment /mo
8,165 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,165 sqft
Price per Sqft $471
MLS Listing ID CL26859087
HOA Y/N No
Year Built 1959
Lot Size 0.331 Acres
Acres 0.3308
Property Sub-Type Other
Property Description
Price Reduced by $100,000! 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 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: 6.09% current cap rate and 10.40 GRM, with upside to a 6.85% pro-forma cap and 9.55 GRM, or a 6.72% current cap and 7.48% 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).
Location
State CA
County Los Angeles
Zoning LNR3PY
Interior
Fireplace No
Laundry Laundry Room
Building
New Construction No
Others
Tax ID 4081027033
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Listed by Jonathan Nikfarjam • Shield CRE, Inc.