Thank you
David Holstein
The Holstein Group
310-345-9994
Updated Set Up Sheet. Price Improvement. Seller financing available. 14900 Lemoli Ave., Gardena CA 90249 is a 16-unit apartment complex that benefits from a strong employment base as well as a nearby community college that helps provide constant demand for housing. The property consists of all large One Bedroom Units and is situated on an oversized 15,624 sq ft lot with plenty of parking. All utilities are paid by Landlord (Master Metered). Upside: Buyer may be able to institute RUBS on turnover(s). This asset is situated in zip code area of the City of Gardena, however, under it falls under the jurisdiction of LA County (not LA City). Value Added: Rents are very low compared to Market! In addition to 4% annual increases, an investor can increase rents substantially on turn-over. Additionally, there is an office unit that has plumbing for a toilet and shower which may be able to be leased out as an office (Buyer to verify). An investor can also find upside with additional income from the laundry room, storage facilities onsite, and the ample parking area. For investors looking for a value-added opportunity - this might be your deal! Some basic deferred maintenance makes this investment offering perfect for an investor that knows how to beautify a property and maximize rents in the process. Priced competitively BELOW 10x GRM (9.97) and a potential 6.30% CAP, this asset potentially can possibly cash flow at the list price using reasonable estimated expenses!!
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Water Source : Public
Sewer : Public Sewer
Year Built: 1961
Building Area Total: 9,606
None
Common Area
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.3587
Lot Size Source: Assessor
Lot Size Square Feet: 15627
Original List Price: 2,995,000
Listing Contract Date: 2023-12-13
Listing Agreement: Exclusive Right To Sell
Parcel Number: 4071016001
Lease Term: Negotiable
Source Listing Status: Active Under Contract
Source Neighborhood: 111 - Bodger Park/El Camino
Postal Code Plus 4: 3423
Directions: One block off Marine Ave, South of Crenshaw Blvd
Zoning: LCR3YY
Source Property Type: Residential Income
Area: 111 - Bodger Park/El Camino
Property SubType: Apartment
Property Age: 63
Common Walls: 2+ Common Walls
Structure Type: Apartment
Year Built Source: Appraiser
Entry Level: 1
Entry Location: resi
Property Attached: Yes
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
15338 Eriel Avenue, Gardena, CA,90249 | $3,200,000 | 6 | 3 | 3,670 | 20817 Sqft |
15122 Crenshaw Boulevard, Gardena, CA,90249 | $950,000 | 2 | -- | 2,656 | 11000 Sqft |
13007 Haas Avenue, Gardena, CA,90249 | $849,000 | 3 | 1 | 1,312 | 5607 Sqft |
2917 W Rosecrans Avenue, Gardena, CA,90249 | $1,650,000 | -- | -- | 4,133 | 6305 Sqft |
14900 Chadron Avenue, Gardena, CA,90249 | $1,975,000 | 16 | -- | 7,460 | 13394 Sqft |
1938 W 146th Street, Gardena, CA,90249 | $2,199,998 | 18 | -- | 1,081 | 14407 Sqft |
12908 Spinning Avenue, Gardena, CA,90249 | $969,000 | 4 | 3 | 1,561 | 5747 Sqft |
14000 Arcturus Avenue, Gardena, CA,90249 | $899,999 | 3 | 2 | 1,312 | 5303 Sqft |
14816 Spinning Avenue, Gardena, CA,90249 | $750,000 | 3 | 1 | 1,201 | 5221 Sqft |
3242 Marine Avenue, Gardena, CA,90249 | $825,000 | 3 | 2 | 1,424 | 6004 Sqft |
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ByOwner last updated this listing 05/24/2024 @ 03:56
MLS: SB23225776
LISTED BY: David Holstein, The Holstein Group
SOURCE: CRMLS
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.