The Marine Bay Apartments – an 81 Unit South Bay apartment complex located at 3351 Marine Ave., Gardena (Post Office Box Gardena) – situated and zoned by LA County. This rare offering – 1st time in over 20 years, is one of the largest investment multifamily apartment complexes available for sale in the entire South Bay / LA area.
Situated in the growing and prosperous outskirts of the city of Gardena, yet regulated by the Los Angeles County Strip rental guidelines, this asset benefits from a permissible 4% annual rental increases while also collecting for utilities reimbursements via RUBS (Ratio Utility Billing System).
Consisting of a solid mixture of 38% One Bedroom, 5% Two Bedroom, and 57% Studio & Grand Studio units (to be verified), this asset has consistently been able to attract residents from the local El Camino Community College, as well as facilitate housing for the massive employment base in the immediate surrounding area.
Note: All Studio units have their own kitchenettes, the Grand Studios have kitchenettes and partition walls that provide privacy between the bedrooms and the other living areas (see floor plans in photos). All units benefit from the amazing tropical and tranquil landscape consisting of massive palm trees throughout the impressive and access to the center sparkling pool that adds to the surreal beauty of this 53,743 sq ft lot (per assessor).
With approximately 75+ parking spaces (covered and open), employment, colleges, freeways, local beaches, and LAX Airports in close reach, this asset should provide amazing occupancy and upside due to extreme high demand for housing and the need for affordable housing.
Note; Electrical Panels show brand GE. Balcony repair and inspection requirements related to SB 326 requirements will be completed prior to close of escrow with some upgrades in progress to existing walkways.
Situated in the growing and prosperous outskirts of the city of Gardena, yet regulated by the Los Angeles County Strip rental guidelines, this asset benefits from a permissible 4% annual rental increases while also collecting for utilities reimbursements via RUBS (Ratio Utility Billing System).
Consisting of a solid mixture of 38% One Bedroom, 5% Two Bedroom, and 57% Studio & Grand Studio units (to be verified), this asset has consistently been able to attract residents from the local El Camino Community College, as well as facilitate housing for the massive employment base in the immediate surrounding area.
Note: All Studio units have their own kitchenettes, the Grand Studios have kitchenettes and partition walls that provide privacy between the bedrooms and the other living areas (see floor plans in photos). All units benefit from the amazing tropical and tranquil landscape consisting of massive palm trees throughout the impressive and access to the center sparkling pool that adds to the surreal beauty of this 53,743 sq ft lot (per assessor).
With approximately 75+ parking spaces (covered and open), employment, colleges, freeways, local beaches, and LAX Airports in close reach, this asset should provide amazing occupancy and upside due to extreme high demand for housing and the need for affordable housing.
Note; Electrical Panels show brand GE. Balcony repair and inspection requirements related to SB 326 requirements will be completed prior to close of escrow with some upgrades in progress to existing walkways.
Property Details
Price:
$15,275,000
MLS #:
SB24097501
Status:
Active
Baths:
0
Address:
3351 Marine Avenue
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
111bodgerparkelcamino
City:
Gardena
Listed Date:
May 14, 2024
State:
CA
ZIP:
90249
Lot Size:
53,757 sqft / 1.23 acres (approx)
Year Built:
1960
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Schools
Interior
Appliances
Electric Oven
Exterior
Community Features
Sidewalks
Garage Spaces
0.00
Lot Features
Over 40 Units/ Acre
Parking Spots
0.00
Pool Features
Community
Sewer
Public Sewer
Stories Total
2
Water Source
Public
Financial
Tenant Pays
See Remarks
Map
Community
- Address3351 Marine Avenue Gardena CA
- Area111 – Bodger Park/El Camino
- CityGardena
- CountyLos Angeles
- Zip Code90249
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Courtesy of The Holstein Group. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
3351 Marine Avenue
Gardena, CA
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