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$ 4,100,000
Est. payment | /mo
18 Beds
20 Baths
12,012 SqFt
$ 4,100,000
Est. payment | /mo
18 Beds
20 Baths
12,012 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 12,012 sqft
Price per Sqft $341
MLS Listing ID 26105119
Bedrooms 18
HOA Y/N No
Year Built 1958
Lot Size 0.379 Acres
Property Description
We are pleased to present 1914-1918 W. El Segundo Boulevard, an attractive 18-unit multifamily investment opportunity located directly across from Chester Washington Golf Course in Gardena, California. Offered at $4,100,000, the property features a strong 6.20% current cap rate and 10.37 GRM, providing investors with immediate cash flow and additional rental upside. Built in 1958, the property consists of two 9-unit buildings situated on separate APNs, totaling approximately 16,511 square feet of improvements on a combined 12,012-square-foot lot. The desirable unit mix consists of (2) spacious three-bedroom/two-bathroom units, (14) one-bedroom/one-bathroom units, and (2) studios. Each building features a three-bedroom owner's unit with a fireplace. The property has benefited from several significant capital improvements, including a newer roof (2024), copper repiping and drain line improvements (2019), and the relining of both main sewer lines (2025). Select units have been tastefully renovated with updated kitchens featuring quartz-style countertops, subway tile backsplashes, modern fixtures, new flooring, and remodeled bathrooms. Additional property amenities include 18 parking spaces, a dedicated on-site laundry room, separately metered gas and electricity, and individual water heaters for all units except the two studios. At the asking price, the property offers an attractive cost basis of approximately $227,778 per unit and $248 per square foot. Current operations generate approximately $395,548 in annual gross income, with projected income of $425,800 at market rents, resulting in a 6.92% pro forma cap rate. With its significant recent infrastructure upgrades, selectively renovated interiors, strong existing cash flow, two separate parcels, and convenient South Bay location, 1914-1918 W. El Segundo Boulevard represents an excellent opportunity to acquire a well-maintained multifamily asset with immediate income and long-term appreciation potential.
Location
State CA
County Los Angeles
Area 114 - Hollypark
Zoning GAR4
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Common Area
Exterior
Parking Features Attached Carport
Total Parking Spaces 18
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 4061011029
Special Listing Condition Standard
Listed by Benjamin J. Hsiang Realty Investment Advisors, Inc. #01438644
Nearby Locations
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