This subject offering is a fantastic opportunity to own a two story, wood frame and stucco, 6-unit apartment complex in the City of Hawthorne, California. Property includes individual meters, coin laundry and carport parking. Located 1 block from Hawthorne Blvd and conveniently located near shopping centers, medical, and dental offices. Hawthorne is enjoying a large boost in apartment demand due to the nearby employment centers in the surrounding beach cities of Manhattan, Hermosa and Redondo. Also within proximity to Torrance, Gardena, and Lawndale which offers very desirable schools & employment opportunities such as Boeing, Space-X, and other Aerospace facilities. The property includes a large ground-floor 3 bedroom/2 bathroom, owner's unit, along with 5 2 bedroom/1 bathroom units with new paint, counter tops, and considerably nice upgrades. Rents average for the 2 bedrooms at $1350, creating the upside potential in rents by completing further upgrades. Ultimately raising rents to $1450-$1500 creating even more cash flow. The property is in better than average condition and should be able to lend a 70%-75% loan to a qualified investor at or below a 4% interest rate. Principal reduction & tax benefit are another reason to own this for the long term.
- Built 1960
- Units: 6
- Disclosures: special assessments
- Tenant pays for: electricity
Listed by William Mulkey, TR Wealth Management Inc.CMRL #SB16118875APN: #4045007024
School rankings provided by Niche.Updated 4/12/17.School information is to be used as reference only. To verify enrollment eligibility for a specific property, contact the school or the local school board.
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