CA > Hawthorne
Hawthorne, CA 90250,13605 Cerise AVE
Hawthorne, CA 90250,13605 Cerise AVE
Hawthorne, CA 90250,13605 Cerise AVE
Hawthorne, CA 90250,13605 Cerise AVE
Hawthorne, CA 90250,13605 Cerise AVE
Hawthorne, CA 90250,13605 Cerise AVE
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Michelle Esquivel

Michelle Esquivel

$ 3,995,000
Est. payment | /mo

0.31 Acres Lot

Save
$ 3,995,000
Est. payment | /mo
Save

0.31 Acres Lot

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Pending

Purchase Type For Sale

MLS Listing ID SB24182655

HOA Y/N No

Year Built 1986

Lot Size 0.305 Acres

Property Description

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.

Location

State CA

County Los Angeles

Area 110 - East Hawthorne

Zoning HAR3*

Interior

Fireplaces Type None

Fireplace No

Laundry Common Area

Exterior

Garage Covered, Carport, Garage, Tandem

Garage Spaces 1.0

Carport Spaces 5

Garage Description 1.0

Pool None

Community Features Curbs, Street Lights, Sidewalks, Urban

Parking Type Covered, Carport, Garage, Tandem

Total Parking Spaces 6

Private Pool No

Building

Lot Description 11-15 Units/Acre

Story 3

Entry Level Three Or More

Sewer Public Sewer

Water Public

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID 4052004003

Energy Description 6204.0

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by Martin Ensbury • Lyon Stahl Investment Real Estate, Inc. • 310-880-0132
agent-avatar

michelle@michellehomesellingteam.com

515 S Myrtle Ave, Monrovia, CA, 91016, USA

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13605 Cerise AVE