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$7,640,000
Est. payment /mo
3 Beds
2 Baths
0.44 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26196571
Bedrooms 3
Lot Size 0.441 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
Offered at $7,640,000, this 28-unit, non-rent-controlled South Bay multifamily property delivers strong day-one cash flow at a 6.5% current cap rate, with significant upside through a proposed 15-unit ADU expansion. Built in 1974 and renovated in 2024, the property contains approximately 18,310 SF on a substantial 19,196 SF lot and offers a diverse unit mix of 24 one-bedroom units and four two-bedroom units, along with 33 on-site parking spaces. The defining investment opportunity is the potential to add 15 ADUs7 attached and 8 detachedincreasing the unit count by more than 50%, from 28 units to 43 units, without acquiring additional land. Upon completion of the proposed ADU program and after accounting for estimated construction costs, the property is projected to achieve an approximately 9% cap rate and 7.6 GRM, with an all-in basis of approximately $200,000 per unit based on the expanded 43-unit count. This creates an opportunity to acquire a stabilized multifamily asset with strong existing income while adding substantial density at a basis that would be difficult to replicate through either a conventional acquisition or ground-up development. The property is not subject to local rent control and is generally governed by Californias statewide AB 1482 rent cap, currently allowing annual rent increases of up to 8.7% in the Los Angeles area, providing a clear path for below-market rents to move toward market over time. The property is strategically located within Hawthornes major employment and entertainment corridor, near several of Southern Californias most prominent aer
Location
State CA
County Los Angeles
Zoning Assessor
Direction Off Rosecrans Ave, turn north onto Yukon Ave
Interior
Fireplace No
Exterior
Pool Above Ground, Community/Common
View Y/N No
Building
Story 3
Level or Stories 3
Others
Senior Community No
Tax ID 4052029051
Acceptable Financing Conventional
Listing Terms Conventional
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Listed by Cameron Samimi, DRE#02035763 Lyon Stahl Investment Real Estate, Inc.
NEARBY SCHOOL & BUSINESS
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