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Key Details
Sold Price $3,055,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Square Footage 10,335 sqft
Price per Sqft $295
MLS Listing ID SB24002889
Sold Date 03/08/24
HOA Y/N No
Year Built 1960
Lot Size 0.292 Acres
Acres 0.2917
Property Description
The subject property is a two story 11 unit apartment building built in 1961. It is located west of Hawthorne Blvd , one block north of El Segundo Boulevard, one block from Eucalyptus Elementary school and Park.
The unit mix consists of ten 2 bedroom 1.5 bath townhome style floor plans, and a one 3 bedroom 2 bath unit. There are 11 carports with parking and storage for each unit. The laundry room provides additional income and all washers and dryers are included as they are owned by the seller.
The building is 100% occupied and all rents were just increased and went into effect as of January 1, 2024. Tenants pay gas and electric for their individual units. There is still another 20%-25% or more upside in rents on most units which can be achieved over time since Hawthorne does not have its own rent control ordinance. A new roof was installed in 2023 and the electrical service was upgraded as well in 2023.
This is an excellent turn key investment with significant upside.
Location
State CA
County Los Angeles
Area 108 - North Hawthorne
Zoning HAR3YY
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Fireplaces Type None
Fireplace No
Laundry Common Area
Exterior
Carport Spaces 11
Pool None
Community Features Curbs
Total Parking Spaces 11
Private Pool No
Building
Lot Description 11-15 Units/Acre, Level, Street Level
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4041019042
Energy Description 2948.0
Acceptable Financing Submit
Listing Terms Submit
Financing Conventional
Special Listing Condition Trust
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Bought with Stephen Lampe • Re/Max Commercial & Investment
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