1556 W 227th St. Apartments is a well maintained 6-unit multifamily community located in the Harbor Gateway area. It presents a value-add opportunity with a conservative ±6.7% Proforma CAP Rate on. The property is a newer built two-story apartment that is well maintained and has undergone many capital improvements which include: all units upgraded. It was built in 1986 and not under any local rent control ordinance (only under CA AB1482) which provides maximum allowable annual rent increases. All the units are ready for the next rent increase in July 2025 (buyer to verify) which provides immediate rental upside.
It has a large building size of 4,241 SF which translates to a spacious ±700sf average unit size and situated on 7,198 SF R3 lot. It offers an excellent unit mix with 1 x large 2-bedroom+2-bathroom, 1 x large 2-bedroom+1-bathroom and 4 x 1-bedroom+1-bathroom units. Each unit has been upgraded with high-end upgrades such as laminated/vinyl wood flooring, updated kitchen with quartz countertops, and updated tiled bathroom. Some units have brand new mini-split HVAC systems in the living room and bedroom. Based on its year built, it has copper plumbing throughout (buyer to verify).
The property has a wrought iron gate, and offers 6 open parking spaces in the back, and a large storage area which is ready to be converted into ADU unit (buyer to verify and get permit from the city). Each unit is individually metered for electricity and gas. Hot water is provided by a master water heater. There is a common area laundry room for the property.
It is located near the best that the South Bay area has to offer, within walking distance to a variety of Parks, Recre¬ations Centers, Madrona Marsh Nature Preserve and neighborhood schools. Within a short drive, one can reach the Pacific Ocean and Riviera Village, The Del Amo Shopping Center, and Wilson Park, pro¬viding Residents with an abundance of recreational, shopping, dining, and entertainment options. It is also conve¬niently located near Hawthorne Boulevard, Pacific Coast Highway and within close access to Interstate 405, 110 and 91, allowing residents to reach employment hubs throughout Los Angeles and Orange County.