16505-16509 1/2 Prairie Ave
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16505-16509 1/2 Prairie Ave
8 Unit Apartment Building $1,950,000 ($243,750/Unit) 5.12% Cap Rate Lawndale, CA 90260
EXECUTIVE SUMMARY
Ideal 8 unit property. Two 4 plex parcels , property renovated in 2019 with new paint, hardscape, windows, doors and asphalt. Six units have been remodeled inside with new kitchen cabinets, quartz counter tops, ceramic tile flooring and LED lighting. New tankless water heater and plumbing fixtures.
Property is within minutes to the 405 Freeway. Very stable tenant profile, all units are individually metered for gas and electricity.
Property is within minutes to the 405 Freeway. Very stable tenant profile, all units are individually metered for gas and electricity.
FINANCIAL SUMMARY (ACTUAL - 2024) 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 |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,950,000 | Apartment Style | Low-Rise |
| Price Per Unit | $243,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.12% | Building Size | 2,640 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 13.46 | No. Stories | 1 |
| No. Units | 8 | Year Built/Renovated | 1956/2019 |
| Property Type | Multifamily | Parking Ratio | 3.03/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $1,950,000 |
| Price Per Unit | $243,750 |
| Sale Type | Investment |
| Cap Rate | 5.12% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 13.46 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 2,640 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1956/2019 |
| Parking Ratio | 3.03/1,000 SF |
| Opportunity Zone |
Yes |
UNIT AMENITIES
- Disposal
- Refrigerator
- Double Pane Windows
SITE AMENITIES
- Courtyard
- Gated
- Gas Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 8 | - | 330 |
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PROPERTY TAXES
| Parcel Numbers | Total Assessment | $1,968,552 | |
| Land Assessment | $1,093,640 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $874,912 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,093,640
Improvements Assessment
$874,912
Total Assessment
$1,968,552
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
ZONING
| Zoning Code | LNR4YY (Quadruplex) |
| LNR4YY (Quadruplex) |
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16505-16509 1/2 Prairie Ave
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