12120 215th ST Hawaiian Gardens, CA 90716
UPDATED:
Key Details
Property Type Single Family Home, Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26212364
Construction Status Turnkey
HOA Y/N No
Year Built 1980
Lot Size 5,205 Sqft
Property Sub-Type Mixed Use
Property Description
The property features an excellent unit mix of two 3 bedroom, 2 bath units and three 2 bedroom, 1 bath units. A major highlight is the exceptionally large interior living spaces. Per the most recent appraisal, the units measure approximately 1,505, 2,101, 1,093, 968 and 1,196 square feet. These unusually spacious floor plans provide an attractive rental offering for families and long term tenants.
All five units have been fully remodeled within the past 2 to 3 years. Recent exterior improvements include brand new exterior paint and decking, helping minimize near term maintenance needs.
The property offers 11 onsite parking spaces, including five single car garages in front and six gated tuck under spaces accessed from the rear alley. Separately metered gas and electricity and individual water heaters for each unit provide additional operating efficiency. Additional money could come from garage rentals in the future.
The property has a history of well vetted residents and offers investors the opportunity to acquire a stabilized income producing asset with substantial improvements already completed. At the current pricing, the property provides approximately a 6% cap rate based on existing operations, with potential to reach approximately a 7% cap rate at market rents.
Additional upside may be available through organic rent growth, rental of select garage spaces, laundry installation, and potential ADU development utilizing existing garage space, subject to buyer verification and applicable city requirements.
An excellent opportunity to acquire a multifamily asset with exceptionally large units, a desirable unit mix, recent renovations, ample parking, strong current cash flow and multiple avenues for future income growth at less than replacement cost!
Location
State CA
County Los Angeles
Area 54 - Hawaiian Gardens
Interior
Interior Features Ceiling Fan(s), Open Floorplan, Quartz Counters, Recessed Lighting
Heating Central, Forced Air, Natural Gas
Cooling Central Air
Flooring Vinyl
Fireplaces Type None
Fireplace No
Appliance Dishwasher, Gas Oven, Gas Range, Gas Water Heater, Range Hood, Vented Exhaust Fan, Water Heater
Laundry None
Exterior
Parking Features Assigned, Covered, Garage
Garage Spaces 5.0
Carport Spaces 6
Garage Description 5.0
Pool None
Community Features Street Lights, Sidewalks
Utilities Available Electricity Available, Natural Gas Available, Sewer Connected, Water Available
View Y/N Yes
Total Parking Spaces 11
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 1
Entry Level Two
Foundation Raised
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Construction Status Turnkey
Others
Senior Community No
Tax ID 7065017027
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
NEARBY SCHOOL & BUSINESS
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