This large 6-unit apartment building totals approximately 7,292 SF on a 8,700 SF lot and is located in a desirable residential pocket of Hawthorne, west of Prairie Ave. The property offers an attractive unit mix consisting of two 3-bedroom/2-bathroom units and four 2-bedroom/1-bathroom units.
The property is currently operating at a… Read More 4.85% CAP rate, with approximately 30% upside in rental income. Based on achievable rent increases post-closing, investors have the opportunity to realize a going-in CAP rate of approximately 5.5% (11.2 GRM). At the asking price, the building is offered at $253 per square foot, with a projected pro forma CAP rate of 7.28% upon stabilization (9.2 GRM). This provides investors with a significant value-add opportunity to increase income through interior renovations and repositioning, or to continue operating the property for stable in-place cash flow and long-term appreciation.
The building includes six carport parking spaces and shared on-site laundry facilities for tenant convenience.
The location offers strong rental appeal, situated near major thoroughfares including Hawthorne Boulevard and Inglewood Boulevard, with convenient access to nearby retail, dining, and employment centers. The property is also located in close proximity to Hawthorne Middle School and Leuzinger High School.
The property is not subject to local rent control and instead falls under California AB 1482, allowing for annual rent increases in accordance with state guidelines. Read Less
Property listed by Rohera Capital, Akash Rohera 310-259-7556
Listing Snapshot
Days Online
18
Last Updated
Property Type
MixedUse
Lot Size
0.2 Acres
Year Built
1962
MLS Number
SB26032642
Additional Details
Building
Built in 1962, 1 building, 2 stories, Levels: Two, Entry level: 1, Entry location: Side
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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