Active Under Contract

14900 Lemoli Avenue

Gardena CA, 90249

$2,995,000


$311.78 per sqft

Active Under Contract

9,606 sqft

Condo

Built in 1961

Listed by David Holstein with The Holstein Group 310-345-9994

Updated Set Up Sheet. Price Improvement. Seller financing available.
14900 Lemoli Ave., Gardena CA 90249 is a 16-unit apartment complex that benefits from a strong employment base as well as a nearby community college that helps provide constant demand for housing. The property consists of all large One Bedroom Units and is situated on an oversized 15,624 sq ft lot with plenty of parking. All utilities are paid by Landlord (Master Metered). Upside: Buyer may be able to institute RUBS on turnover(s). This asset is situated in zip code area of the City of Gardena, however, under it falls under the jurisdiction of LA County (not LA City).
Value Added: Rents are very low compared to Market! In addition to 4% annual increases, an investor can increase rents substantially on turn-over. Additionally, there is an office unit that has plumbing for a toilet and shower which may be able to be leased out as an office (Buyer to verify). An investor can also find upside with additional income from the laundry room, storage facilities onsite, and the ample parking area.
For investors looking for a value-added opportunity - this might be your deal! Some basic deferred maintenance makes this investment offering perfect for an investor that knows how to beautify a property and maximize rents in the process.
Priced competitively BELOW 10x GRM (9.97) and a potential 6.30% CAP, this asset potentially can possibly cash flow at the list price using reasonable estimated expenses!!

SB23225776

MLS ID

April 8, 2024

Listed

May 25, 2024

Updated

Map

14900 Lemoli Avenue
Gardena CA, 90249

Interior Features

Total Stories

2


Laundry Description

Common Area


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.36 Acres


Lot Features

0-1 Unit/Acre


Sewer

Public Sewer

Other Property Details

Area Name

111 - Bodger Park/El Camino


Days on Market

115


Garage

No


Parking Total

16


View

No


County

Los Angeles


Water Source

Public


Pool

No


Pool Features

None


Zoning

LCR3YY

Listing History

Date

Event

Price

5/14/2024

Under Contract

4/15/2024

Price Change

$2,995,000

-4%

4/9/2024

Active

3/2/2024

Pending

2/29/2024

Price Change

$3,100,000

-9%

Listing Contact: 310-345-9994 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/25/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 5/25/2024 at 2:27 AM UTC

 

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