1418-1420 W 132nd St

CBRE, Inc., as exclusive advisor to the Seller, is pleased to present 1418-1420 W. 132nd St., in the city of Gardena. This fully-remodeled 1962 property has 3,234 square feet of living space on a substantial 4,987 square foot lot, offering incredible value-add of ±60% upside potential. The unit mix totals to two 1-bedrooms, four 2-bedrooms, one Studio, and one Garage unit. The interiors have been slightly remodeled with improved appliances and new stucco exteriors.
The Central South Bay submarket, which includes Hawthorne, Gardena, Lawndale, and Torrance, is a growth market with just 3.7% multifamily vacancy currently (per CoStar). The average asking rents are around $2,000 with a market cap of approximately 5.1%. The South Bay market has seen slower new apartment construction than surrounding markets with less than 5% inventory growth year-over-year.
1418-1420 W. 132nd St. sits about 2 miles from SpaceX, Tesla Design Center, and Hawthorne Municipal Airport. Less than 1 mile from the property is Chester Washington Golf Course, Rowley Park, and Holly Park. The property is also close to schools like Los Angeles Southwest College, Henry Clay Middle School, and Junipero Serra High School. This area’s growth is evidenced by the recent Tesla/ Space X development at Hawthorne Municipal Airport, along with dozens of supporting technology startups nearby and many local amenities loved by the community.
Please visit the property website www.cbre132nd.com to access the Offering Memorandum & Virtual Deal Room.