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$ 9,400,000
Est. payment | /mo
18,310 SqFt
$ 9,400,000
Est. payment | /mo
18,310 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 18,310 sqft
Price per Sqft $513
MLS Listing ID CL25559333
HOA Y/N No
Year Built 1974
Lot Size 0.441 Acres
Acres 0.44
Property Sub-Type Other
Property Description
Newer 28 units built in 1974 & Renovated in 2024 cash flowing at an amazing Current Cap Rate of 6% from day 1! Preliminary plans to add 15 ADUs to achieve an incredible 11.1% Cap Rate, 5.3 GRM, and only 249k/unit after taking into account all the construction costs (~1.3M assuming $250/SF). The preliminary plans call for 7 attached ADUs in the garage/storage area + 8 detached ADUs over the pool area while still maintaining ~20 parking spaces for the residents. Excellent unit mix consisting of 4 (2bed/1bath) units and 24 (1bed/1bath) units. Majority of the units have been completely renovated and boast a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, stainless steel appliances, and major exterior capital improvements. Amenities include a renovated pool, on-site laundry facilities, secured entry, and ~34 covered parking spaces for convenience. Huge almost ~20,000 SF lot for future development potential. Located in the heart of Hawthorne just minutes away from the Beach, Tesla Design Center, SpaceX, Starlink, Northrop Grumman, LAX, Intuit Dome, SoFi Stadium and more.
Location
State CA
County Los Angeles
Zoning HAR4
Interior
Heating Wall Furnace
Fireplace No
Building
New Construction No
Others
Tax ID 4052029051
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Listed by Armin Soleimani • Global Platinum Properties, Inc.