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Key Details
Sold Price $4,800,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 15,284 sqft
Price per Sqft $314
MLS Listing ID 22215283
Sold Date 02/07/23
HOA Y/N No
Year Built 1958
Lot Size 0.341 Acres
Property Description
Impeccable, NEW product in a submarket that's on the come, minutes to LAX, SpaceX, Tesla Design Center, Northrop Grumman, Raytheon & the new LA Times HQ on Imperial Hwy. An opportunity to buy and 'cashflow' at a 5% cap rate clip, day one. All utilities on the tenants' dime, being condos. All units are HUGE 3 Bed/3.5 Bath units with den/office/nursery, also. Your 5% cap cashflow will only get more robust over the years due to the absence of rent control, here! New construction in the state is NOT SUBJECT TO RENT CONTROL, for the first15 years. Arguably perfect product, great location, great cashflow AND the additional hedge of knowing townhome sales, YTD, have exceeded $900,000 in Hawthorne/Gardena, in some cases - if you want to sell them off individually. (*one unit designated 'low income').The deal is arguably worth $6MM, deliverable under$5,000,000.
Location
State CA
County Los Angeles
Area 110 - East Hawthorne
Zoning HawR3
Interior
Heating Electric
Fireplace No
Appliance Dishwasher, Microwave
Exterior
Parking Features Garage
Total Parking Spaces 18
Building
Story 2
New Construction No
Others
Senior Community No
Tax ID 4052021017
Special Listing Condition Standard
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Bought with Albert Pacleb • LA Commercial, Inc.