15917 Prairie Ave

8 Unit Apartment Building $1,900,000 ($237,500/Unit) 3.61% Cap Rate Lawndale, CA 90260

Investment Highlights

  • 8-Unit Apartment Building in Lawndale
  • Ample Parking For Tenants w/ 15 Total Garage Spaces | New Roof in 2024
  • $237,500/Unit | $271/SF
  • (6) 2-Bed/1-Bath, (1) Vacant 1-Bed/1-Bath, (1) Studio Unit | On-Site Laundry
  • Great Upside Potential: 70% Rental Upside w/ 8.02% Market CAP | 8.85 Market GRM
  • Great Location in Lawndale – Right Across the Street from Alondra Park Golf Course, Short Distance to El Camino College

Executive Summary

15917 Prairie Ave is an excellent investment opportunity in the heart of Lawndale, featuring an 8-unit apartment building with a diverse unit mix. The property includes six 2-bedroom, 1-bathroom units, one vacant 1-bedroom, 1-bathroom unit, and one studio unit, offering versatility for tenants and strong rental demand. Tenants will also benefit from ample parking, with 15 total garage spaces providing unmatched convenience.
This property presents significant upside potential, boasting an 8.02% market CAP rate and an 8.85 market GRM with potential to maximize income through eligible 8.9% rent increases for every unit, making it an attractive option for investors looking to maximize returns. Priced at $237,500 per unit and $271 per square foot, it offers exceptional value with room for growth. It also features a new roof that was replaced in 2024. Conveniently located right across the street from Alondra Park Golf Course, the property is situated in a desirable area that enhances its appeal for tenants.
Don’t miss this chance to own a high-performing investment property in a prime Lawndale location with excellent long-term potential!

Financial Summary (Actual - 2023) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes - -
Operating Expenses - -
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Property Facts

Price $1,900,000
Price Per Unit $237,500
Sale Type Investment
Cap Rate 3.61%
Gross Rent Multiplier 15.01
No. Units 8
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.16 AC
Building Size 5,194 SF
Average Occupancy 98%
No. Stories 2
Year Built 1986
Parking Ratio 1.88/1,000 SF
Opportunity Zone Yes

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 1 $1,850 -
2+1 6 $1,254 -

PROPERTY TAXES

zoning

Zoning Code R4, Lawndale
  • Listing ID: 34175889

  • Date on Market: 12/12/2024

  • Last Updated:

  • Address: 15917 Prairie Ave, Lawndale, CA 90260