We are pleased to announce that we have just listed 13605 Cerise Ave., Hawthorne, CA, which is a beautiful 3-story, 15-unit apartment building built in 1986. This is the first time the property has been on the market, originally developed by the seller. The owner recently installed a brand-new roof and painted the entire building. The units are huge (averaging 858 sq. ft.) and very well laid out. The unit mix consists of 1-3bd/2ba townhouse unit, 1-2bd/1ba unit, 1-2bd/2ba unit, and 12-large 1bd/1ba units. The units have expansive city views. There is abundant parking at the property, with one enclosed garage spot, 21 tuck under spaces and 5 car port parking spaces at the rear of the property. Due to the ample parking, a buyer should be able to explore the possibility of converting the car port and building 1 or 2 ADU.
The front townhouse unit has a nice, fenced yard that will be delivered vacant. There is a large laundry room on the ground floor. The parking lot is secured with a remote opener for the convenience of the tenants.
The area surrounding the property consists of single-family homes and small to mid-sized apartment buildings. The property is located approximately 2 miles from both the 105 and 405 Freeways, which provide quick access to major employment centers throughout the area, including LAX, Inglewood, Gardena, the Beach Cities, the Westside and Downtown LA. The subject property also benefits from its close proximity to the SpaceX Research and Development Center.
The property is listed at $3,995,000, which is well below replacement cost at $310.07 per sq. ft. and $266,333 per unit. The property is listed just under a 5% cap rate and should deliver a solid cash flow with rent upside. Offering Memorandum included as a supplement to this listing.
The front townhouse unit has a nice, fenced yard that will be delivered vacant. There is a large laundry room on the ground floor. The parking lot is secured with a remote opener for the convenience of the tenants.
The area surrounding the property consists of single-family homes and small to mid-sized apartment buildings. The property is located approximately 2 miles from both the 105 and 405 Freeways, which provide quick access to major employment centers throughout the area, including LAX, Inglewood, Gardena, the Beach Cities, the Westside and Downtown LA. The subject property also benefits from its close proximity to the SpaceX Research and Development Center.
The property is listed at $3,995,000, which is well below replacement cost at $310.07 per sq. ft. and $266,333 per unit. The property is listed just under a 5% cap rate and should deliver a solid cash flow with rent upside. Offering Memorandum included as a supplement to this listing.
Property Details
Price:
$3,995,000
MLS #:
SB24182655
Status:
Pending
Baths:
0
Address:
13605 Cerise Avenue
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
110easthawthorne
City:
Hawthorne
Listed Date:
Sep 3, 2024
State:
CA
ZIP:
90250
Lot Size:
13,292 sqft / 0.31 acres (approx)
Year Built:
1986
See this Listing
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Schools
Interior
Fireplace Features
None
Exterior
Community Features
Curbs, Sidewalks, Street Lights, Urban
Garage Spaces
1.00
Lot Features
11-15 Units/ Acre
Parking Features
Carport, Garage, Tandem Covered
Parking Spots
6.00
Pool Features
None
Sewer
Public Sewer
Spa Features
None
Stories Total
3
Water Source
Public
Financial
Association Fee
0.00
Tenant Pays
Electricity, Gas
Map
Community
- Address13605 Cerise Avenue Hawthorne CA
- Area110 – East Hawthorne
- CityHawthorne
- CountyLos Angeles
- Zip Code90250
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Courtesy of Lyon Stahl Investment Real Estate, Inc.. 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.
13605 Cerise Avenue
Hawthorne, CA
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