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!!
