Active
13605 Cerise AVE
HAWTHORNE CA, 90250
$3,995,000
$310.07 per sqft
Active
8 Beds
6 Baths
12,884 sqft
Multi-family
Built in 1986
We are pleased to announce that we have just listed 13605 Cerise Ave., Hawthorne, CA, which is a beautiful 3-story, 15-unit apartment building built in 1986. This is the first time the property has been on the market, originally developed by the seller. The owner recently installed a brand-new roof and painted the entire building. The units are huge (averaging 858 sq. ft.) and very well laid out. The unit mix consists of 1-3bd/2ba townhouse unit, 1-2bd/1ba unit, 1-2bd/2ba unit, and 12-large 1bd/1ba units. The units have expansive city views. There is abundant parking at the property, with one enclosed garage spot, 21 tuck under spaces and 5 car port parking spaces at the rear of the property. Due to the ample parking, a buyer should be able to explore the possibility of converting the car port and building 1 or 2 ADU. The front townhouse unit has a nice, fenced yard that will be delivered vacant. There is a large laundry room on the ground floor. The parking lot is secured with a remote opener for the convenience of the tenants. The area surrounding the property consists of single-family homes and small to mid-sized apartment buildings. The property is located approximately 2 miles from both the 105 and 405 Freeways, which provide quick access to major employment centers throughout the area, including LAX, Inglewood, Gardena, the Beach Cities, the Westside and Downtown LA. The subject property also benefits from its close proximity to the SpaceX Research and Development Center. The property is listed at $3,995,000, which is well below replacement cost at $310.07 per sq. ft. and $266,333 per unit. The property is listed just under a 5% cap rate and should deliver a solid cash flow with rent upside. Offering Memorandum included as a supplement to this listing.
SB24182655MR
MLSⓇ ID
September 3, 2024
Listed
October 2, 2024
Updated
Map
13605 Cerise AVE
HAWTHORNE CA, 90250
Interior Features
Total Stories
3
Bedrooms
8
Total Bathrooms
6
Laundry Description
Laundry Area
Fireplace
No
Fireplace Description
None
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.31 Acres
Sewer
Public Sewer
Other Property Details
Area Name
East Hawthorne
Days on Market
8
Garage
Yes
Garage Spaces
1
Parking
Carport, Garage
Parking Total
6
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
HAR3*
Listed by Martin Ensbury with Lyon Stahl Investment Real Estate, Inc.
Listing Contact: 310-546-8133
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Alysia Caldwell | CA DRE# 02167945 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 10/2/2024