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Description
Terrific opportunity to acquire a rare 1980s vintage 11-unit apartment community located in Gardena P.O. The property was constructed in 1988 making it subject to AB 1482 rent control laws. The property is currently performing at a 5.60% Cap Rate & a 12.34 GRM with upside to a 7.04% Pro Forma Cap Rate & a 10.37 Pro Forma GRM. The property has been meticulously maintained by the current owners and offers strong current income. All unit interiors have been renovated, including new countertops, new or refinished kitchen cabinets, vinyl flooring, and updated bathrooms. The offering consists of 11 2-bedroom/1-bathroomunits. All of the units are section 8 providing guaranteed income for a new investor and a steady cash flow stream. There is on-site laundry and the property has 26 parking spaces. The building is in a terrific location of Gardena north of Artesia Blvd and west of the 110 freeway central to all of the South Bay. The location gives easy access to the 110, 405 and 91 freeways as well.
Location
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Listing Agent: John Katnik
Listing Office: BRC Advisors- BH
