Income-Producing Opportunity in the South Bay – Upside Potential
Investor opportunity at 12940 Prairie Ave – a solid income-producing property in a prime South Bay location. The building was originally built as mixed-use but has long since been converted to all residential, creating a versatile 4-unit property with an additional studio… Read More unit that adds extra income potential.
The property currently includes (1) 2-bed/1-bath unit and (3) 1-bed/1-bath units, plus a bonus unpermitted studio, giving investors five income streams. Current rents are slightly below market, leaving room for future increases and improved cash flow.
Ownership has already taken care of several key upgrades. The roof was resurfaced recently, the windows have been replaced with vinyl double-pane, and the water heater is new. The housing provider currently pays all utilities, and the property includes three assigned parking spaces (one driveway space and a two-car carport).
Location is a major plus. Situated in the heart of the South Bay, the property is minutes from the beach cities, LAX, and the rapidly growing Inglewood Entertainment District. Commuting is easy with quick access to the 405 and 105 freeways, and the area is close to major employers like SpaceX, Amazon, Boeing, and Raytheon.
Whether you're looking to add to your portfolio or get into South Bay multifamily investing, this property offers current income with room to grow in a strong rental market. Read Less
Property listed by REMAX AEGIS, Anthony Warfield 310-259-7556
Listing Snapshot
Days Online
162
Last Updated
Property Type
Apartment
Lot Size
0.08 Acres
Year Built
1962
MLS Number
SB25176869
Additional Details
Building
Built in 1962, 2 buildings, 2 stories, Levels: Two, Entry level: 0, Entry location: Ground level, Construction Materials: Stucco
Community
Urban
Cooling
None
Energy Saving
Energy Efficiency: Windows
Expenses
Electric: $2,240, Fuel: $1,830, Insurance: $3,590, Operating: $13,830, Pest Control: $790, Trash: $3,100, Water/Sewer: $2,280, Other Expense: $790
Fence
Block
Fireplaces
None
Foundation
Slab
Home Owner's Association
Association Fee: $0
Income
Gross Income: $95,580, Gross ScheduledIncome: $95,580, Net Operating Income: $81,750
Laundry
None
Lot
0.0792 acres, RectangularLot
Parking
2 carport spaces, 1 open parking spaces, 3 total parking spaces, Assigned, Carport, Driveway
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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