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Key Details
Sold Price $3,615,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB20008541
Sold Date 04/15/20
HOA Y/N No
Year Built 1959
Lot Size 0.330 Acres
Property Description
The Dutch Arms Apartments is an outstanding investment opportunity. This low-rise apartment asset is comprised of 16 one bed/one bath units. The units are well laid out and average approximately 500 square feet each (buyer to verify), and the 8,165 total square foot building is on a large 14,411 square foot lot. The asset is master metered for utilities which is an attractive feature for today’s price conscious renter. There is an onsite laundry room and ample onsite parking.
Located in the very south tip of the City of Lawndale, the property is a stone’s throw from Torrance and Redondo Beach. Walk Score of 90! And the property is just north of the 2019 approved the South Bay Galleria Redevelopment plan. The project is anticipated to cost more than $900,000,000 and will be a “game changer” for the community. When completed, this will be the largest development project in Redondo Beach’s history (1.6 million square feet). The prospect of this redevelopment project and its positive effects on the Dutch Arms’ residents quality of life cannot be understated. This investment opportunity is perfect for both savvy new and seasoned investors alike.
Location
State CA
County Los Angeles
Area 113 - South Lawndale
Zoning LNR3PY
Interior
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Curbs, Storm Drain(s), Street Lights, Sidewalks, Urban
Private Pool No
Building
Lot Description 16-20 Units/Acre, Level, Near Public Transit, Rectangular Lot, Street Level
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 4081027033
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Josh Cohen • Keller Williams Beach Cities