14517 Larch Avenue

    Lawndale, CA 90260
    • $6,100,000
    • STATUS: Active
    • ON SITE: 25 days
    • ID#: SB18021273
    $6,100,000
    • 0
      BEDS
    • 0.5
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 17,444
      SQFT
    • $350
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1961
    County:

    School Ratings & Info

    Description

    14517 Larch Avenue is a beautifully renovated twenty-unit apartment building that is not subject to rent control, and has considerable upside for a new owner. Built in 1961, the property sits on a very large 21,839 square foot lot and has an impressive 17,444 rsf. Each apartment has been upgraded to varying degrees. Depending on the unit, these improvements may include: vinyl plank flooring, stainless steel kitchen appliances, modern kitchen cabinetry/fixtures, granite countertops, new paint schemes, bathroom sinks and tubs, chair railing, crown molding and updated lighting fixtures and ceiling fans. Common areas have also been enhanced with a new stone wall veneer and two beautifully landscaped garden courtyards. Additionally, there are reinforced handrails and newer decking and paint. There are 16 covered parking spaces, 4 enclosed garage spots, and 4 uncovered spaces. The property has on-site laundry facilities. 1 unit is currently being operated as a 3 bed/2 bath unit. Each unit is individually metered for both gas and electricity, with the building having 22 gas meters and 21 electric meters. There are also two, newer 100-gallon water heaters. Though the property has been upgraded considerably, there is still much potential upside in current rents; many units in Lawndale are asking considerably higher rents. It is very rare to find an asset like this available for purchase in the South Bay and Lawndale.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-02-24T00:28:07.193. 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, 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.
    www.themarellygroup.com/homes/80340284

    14517 Larch Avenue Lawndale, CA 90260

    • Price: $6,100,000
    • Status: Active
    • ID#: SB18021273
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.5
    Acres
    17,444
    SQFT
    $350
    $/SQFT
    1961
    Built
    Neighborhood:
    699 - Not Defined
    County:
    Los Angeles
    Area:
    699 - Not Defined
    Property Description
    14517 Larch Avenue is a beautifully renovated twenty-unit apartment building that is not subject to rent control, and has considerable upside for a new owner. Built in 1961, the property sits on a very large 21,839 square foot lot and has an impressive 17,444 rsf. Each apartment has been upgraded to varying degrees. Depending on the unit, these improvements may include: vinyl plank flooring, stainless steel kitchen appliances, modern kitchen cabinetry/fixtures, granite countertops, new paint schemes, bathroom sinks and tubs, chair railing, crown molding and updated lighting fixtures and ceiling fans. Common areas have also been enhanced with a new stone wall veneer and two beautifully landscaped garden courtyards. Additionally, there are reinforced handrails and newer decking and paint. There are 16 covered parking spaces, 4 enclosed garage spots, and 4 uncovered spaces. The property has on-site laundry facilities. 1 unit is currently being operated as a 3 bed/2 bath unit. Each unit is individually metered for both gas and electricity, with the building having 22 gas meters and 21 electric meters. There are also two, newer 100-gallon water heaters. Though the property has been upgraded considerably, there is still much potential upside in current rents; many units in Lawndale are asking considerably higher rents. It is very rare to find an asset like this available for purchase in the South Bay and Lawndale.
    Exterior Features

    Carport Spaces 16.00 Garage Spaces 4.00 Lot Features LandscapedLevel With StreetNear Public TransitPark Nearby Lot Size Source Assessor Lot Size Units Square Feet Parking Total 24.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features Community Levels Two

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 4.06 Community Features CurbsGuttersSidewalksStorm DrainsStreet LightingUrban Country Us Electric Expense 1.00 Elevation Units Feet Fuel Expense 1.00 Gross Income 392580.00 Gross Multiplier 15.54 Gross Scheduled Income 392580.00 Insurance Expense 4300.00 Land Lease YN No Laundry YN Yes Net Operating Income 247941.00 New Taxes Expense 70238.00 Number Of Separate Electric Meters 21 Number Of Separate Gas Meters 22 Number Of Separate Water Meters 1 Operating Expense 138788.00 Other Expense 50248.00 Other Expense Description Contact Professional Management Expense 14000.00 Rent Control YN No Senior Community YN No Special Listing Conditions Standard Total Expenses 138788.00 Trash Expense 1.00 Water Sewer Expense 1.00 Water Source Public Zoning Lnr3yy

    Listing provided courtesy of Josh Cohen of Keller Williams Beach Cities.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-02-24T00:28:07.193. 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, 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.
    The Marelly Group | Realty One Group
    5256 South Mission Rd, Suite 1006
    Bonsall CA, 92003