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Key Details
Sold Price $2,800,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 20568410
Sold Date 01/29/21
HOA Y/N No
Year Built 1960
Property Description
This 11-unit apartment building is located in the heart of Lawndale, California. This is an opportunity to own a value-add asset in a high demand rental market with tremendous growth potential. Located Less than 2 miles away from the South Bay Galleria redevelopment project that will soon revitalize a nearly 30-acre property at the southwest corner of Artesia and Hawthorne Boulevards. The site will feature a 150-room hotel, 300 apartments, and an additional 217,000 sq. ft. of retail space and up to 175,000 sq. ft. to be used for offices. The property consists of a desirable unit mix of (1) three-bedroom/two-bathroom, (1) three-bedroom/one-bathroom, (1) two-bedroom/two-bathroom, and (8) two-bedroom/one-bathroom units. Two-bedroom units in the immediate area are currently renting from $2,050 to $2,250.
Location
State CA
County Los Angeles
Area 112 - North Lawndale
Zoning LNR3YY
Interior
Fireplace No
Exterior
Garage Assigned, Garage, Tandem
Community Features Gated
Parking Type Assigned, Garage, Tandem
Building
Story 2
Others
Senior Community No
Tax ID 4076002019
Security Features Gated Community,24 Hour Security,Key Card Entry,Security Guard
Special Listing Condition Standard
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Bought with Nabil Awada • Matthews Real Estate Investment Services
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Monique H. Ott-Beacham
Broker | License ID: DRE #01448692
Broker License ID: DRE #01448692