1210 W 144th St 4 Unit Apartment Building $1,195,000 ($298,750/Unit) 5.13% Cap Rate Gardena, CA 90247
INVESTMENT HIGHLIGHTS
- Gardena Fourplex - Located Approximately 4 Miles from SoFi Stadium & Intuit Dome (NBA Clippers Arena)
- Each Unit Contains Individual Hot Water Heater | No Local Rent Control – Defaults to AB 1482
- Units Contain Private Patios or Balconies | Residential Asset - Perfect Owner-User Opportunity
- 5.13% Current Cap Rate & 12.95 Current GRM | 5.92% Pro-Forma CAP Rate & 11.72 Pro-Forma GRM
- Unit Mix of (Two) 2-Bedroom/1-Bathroom Units & (Two) 1-Bedroom/1-Bathroom Units | Parking Space with Storage for Each Unit
- Qualifies for Residential Financing
EXECUTIVE SUMMARY
ASSET
Four-unit apartment located in Gardena. No local rent control – defaults to AB 1482.
Situated on a 5,663-SF lot, the property contains a unit mix of (two) 2-bedroom/1-bathroom units and (two) 1-bedroom/1-bathroom units. Each unit contains their own individual hot water heater.
The units have private patios/balconies and each unit has a covered parking space with storage.
LOCATION
1210 West 144th Street is located just south of Rosecrans Avenue, approximately 4 miles from SoFi Stadium and Intuit Dome (NBA Clippers Arena). With direct access to the 110 Freeway, the investment possesses immediate transit to the many surrounding employment hubs of the South Bay and Downtown Los Angeles.
FINANCIALS
Offered at a 5.92% pro-forma cap rate and 11.72 pro-forma GRM, the asset has rents which are +/- 11% below market. The property also contains stable-in place rents with a current cap rate of 5.13% and current GRM of 12.95. Furthermore, the property is a residential asset which qualifies for residential financing.
Disclosure:
Gardena is not subject to local rent control; however, Gardena has Rent Mediation.
Four-unit apartment located in Gardena. No local rent control – defaults to AB 1482.
Situated on a 5,663-SF lot, the property contains a unit mix of (two) 2-bedroom/1-bathroom units and (two) 1-bedroom/1-bathroom units. Each unit contains their own individual hot water heater.
The units have private patios/balconies and each unit has a covered parking space with storage.
LOCATION
1210 West 144th Street is located just south of Rosecrans Avenue, approximately 4 miles from SoFi Stadium and Intuit Dome (NBA Clippers Arena). With direct access to the 110 Freeway, the investment possesses immediate transit to the many surrounding employment hubs of the South Bay and Downtown Los Angeles.
FINANCIALS
Offered at a 5.92% pro-forma cap rate and 11.72 pro-forma GRM, the asset has rents which are +/- 11% below market. The property also contains stable-in place rents with a current cap rate of 5.13% and current GRM of 12.95. Furthermore, the property is a residential asset which qualifies for residential financing.
Disclosure:
Gardena is not subject to local rent control; however, Gardena has Rent Mediation.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$92,280
|
$28.05
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,768
|
$0.84
|
| Effective Gross Income |
$89,512
|
$27.21
|
| Taxes |
$14,937
|
$4.54
|
| Operating Expenses |
$13,269
|
$4.03
|
| Total Expenses |
$28,206
|
$8.57
|
| Net Operating Income |
$61,306
|
$18.63
|
PROPERTY FACTS
| Price | $1,195,000 |
| Price Per Unit | $298,750 |
| Sale Type | Investment |
| Cap Rate | 5.13% |
| Gross Rent Multiplier | 12.95 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 3,290 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1958 |
| Parking Ratio | 1.22/1,000 SF |
UNIT AMENITIES
- Balcony
- Patio
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 2 | $2,070 | - |
| 1+1 | 2 | $1,775 | - |
1 of 1
Walk Score®
Very Walkable (76)
PROPERTY TAXES
| Parcel Number | 6114-034-022 | Total Assessment | $959,619 |
| Land Assessment | $477,129 | Annual Taxes | $14,937 ($4.54/SF) |
| Improvements Assessment | $482,490 | Tax Year | 2024 |
ZONING
| Zoning Code | GAR3 (Multiple Dwelling) |
