Cerise Patio Home Condos 13632 Cerise Ave
6 Unit Apartment Building $2,799,000 ($466,500/Unit) 3.79% Cap Rate Hawthorne, CA 90250
EXECUTIVE SUMMARY
Located in the transitional Hawthorne, that has been going through development and gentrification over the last 5-10 years. This property benefits from a strategic location with proximity to major highways, public transportation, schools, and shopping centers. Investor can increase rents on 3 out of the 6 units to increase the return on investment or an investor can sell each unit individually for a higher return on investment. Hawthorne has a stable rental market with a strong demand for housing making this property a solid investment choice and further stabilized via regular tenancy leases. Hawthorne benefits from a diverse local economy with opportunities in retail, healthcare, education, and manufacturing, ensuring a steady pool of potential tenants. The property has historically maintained low vacancy rates due to its attractive location and well-maintained units. With .44 of an acre of land, there is potential of development for a higher density. Please check with the City of Hawthorne and or your desired professionals.
PROPERTY FACTS
| Price | $2,799,000 |
| Price Per Unit | $466,500 |
| Sale Type | Investment |
| Cap Rate | 3.79% |
| Gross Rent Multiplier | 15.23 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.45 AC |
| Building Size | 4,980 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1959/2008 |
| Parking Ratio | 2.41/1,000 SF |
UNIT AMENITIES
- Balcony
- Granite Countertops
- Wheelchair Accessible (Rooms)
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 6 | - | 830 |
ZONING
| Zoning Code | R3, Hawthorne |
