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Key Details
Sold Price $1,405,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV24169317
Sold Date 09/27/24
HOA Y/N No
Year Built 1955
Lot Size 8,698 Sqft
Property Description
We are pleased to exclusively offer for sale this 5 unit multi-family investment property in prime Hawthorne. The asset includes a charming cottage-style 3-Bedroom/1-Bath unit alongside four 2-bedroom/1-bath units, collectively offering 4,002 square feet of rental space situated on an 8,700 square foot lot. Each unit has been meticulously maintained, and several units have been re-piped with copper plumbing, including the front cottage.
Tenants benefit greatly from convenient onsite amenities including garage parking and a laundry facility, which enhance the desirability of the property. Strategically located in close proximity to Manhattan Beach, Sofi Stadium, and LAX Airport, the property offers unparalleled access to major local attractions and transportation, making it highly appealing to potential renters.
Significantly, there is a huge 27% upside potential in rental income, making this property an attractive option for investors seeking a stable asset with growth potential. (A buyer can take advantage of the fact that all units are scheduled for their annual rental increase.) Furthermore, this investment comes with an attractive private-seller financing option: 25% down payment, 6.5% interest-only payments, and a 7-year term.
Location
State CA
County Los Angeles
Area 109 - Ramona/Burleigh
Zoning HAR3YY
Interior
Fireplace No
Laundry Inside
Exterior
Garage Spaces 5.0
Garage Description 5.0
Pool None
Community Features Curbs, Gutter(s), Sidewalks
Total Parking Spaces 5
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4045029023
Energy Description 233.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Seller Financing
Special Listing Condition Standard
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Bought with Kristopher German • RE/MAX 2000 REALTY