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Key Details
Sold Price $1,887,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Square Footage 6,314 sqft
Price per Sqft $298
MLS Listing ID CV24173175
Sold Date 09/19/24
HOA Y/N No
Year Built 1962
Lot Size 8,742 Sqft
Property Description
We are pleased to exclusively offer for sale this meticulously maintained 7 unit multi-family property in the city of Hawthorne. This investment property features a comprehensive array of layouts including one 3-Bedroom/2-Bath, four 2-Bedroom/1-Bath, and two 1-Bedroom/1-Bath units, spread across a well-utilized 8,741 square foot lot, with a total of 6,314 square feet of rental space.
Each unit is separately metered for electricity and gas, enhancing cost efficiency and ease of management. Tenants benefit from the convenience of onsite car-port parking and a communal laundry facility. Significant updates have been made to the infrastructure, including updated copper plumbing and a new sewer line, ensuring reduced maintenance concerns for the new owner.
Located in a community with strong rental demand, this property not only offers stable cash flow but also boasts a 40% potential upside in rental income, as all units are due for their annual rent increase that a new investor can implement immediately. Additionally, attractive Private Seller Financing is available with the following terms: 25% down payment, 6.5% interest-only payments, due and payable in 7 years. Located in close proximity to Manhattan Beach, Sofi Stadium, and LAX Airport, this property is ideally situated to attract and retain high-quality tenants who appreciate the blend of residential comfort and accessibility to major attractions and transportation hubs. Overall this is an outstanding investment opportunity for both seasoned and new investors seeking to maximize returns and long-term capital growth.
Location
State CA
County Los Angeles
Area 109 - Ramona/Burleigh
Zoning HAR3YY
Rooms
Ensuite Laundry Common Area, Inside
Interior
Laundry Location Common Area,Inside
Fireplace No
Laundry Common Area, Inside
Exterior
Carport Spaces 7
Pool None
Community Features Curbs, Gutter(s), Sidewalks
Total Parking Spaces 7
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4047023004
Energy Description 2763.0
Acceptable Financing Cash, Cash to New Loan, Owner May Carry
Listing Terms Cash, Cash to New Loan, Owner May Carry
Financing Seller Financing
Special Listing Condition Standard
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Bought with Rick Applebaum • Morgan Skenderian