46-Unit Apartment
For Sale
$12,000,000
14037 Cerise Ave, Hawthorne, CA 90250
Two adjacent three-story buildings offer secured entry, on-site laundry, covered parking, and a two-bedroom-dominant unit mix.
Property Size35,610 SF
Lot Size0.90 Acres
Price / SF$336.98
Days on Market54
Property Features for 14037 Cerise Ave
General Information
Standard status
Active
Size
35,610 SF
Total Parking Spaces
81
Lot size
0.90 Acres
Property subtype
Multifamily
Occupancy
100%
Financials
Asking Price
$12,000,000
Cap Rate
6.82%
Gross Rent Multiplier
9.68
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
44 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
46
Amenities
secured entry
on-site laundry
enclosed pet area
First time ever on the market! Property is being sold by the original developer
46-unit multifamily community built in 1987 & 1989 totaling approximately 35,610 SF across two adjacent parcels on a 39,269 SF lot (0.90 acres).
Fantastic Unit Mix: (44) 2 Bed/1 Bath units and (2) 1 Bed/1 Bath units.
100% occupied with strong in-place cash flow!
On-site laundry facilities and secured entry for tenants
Located in the City of Hawthorne and not subject to local rent control! Property is subject to statewide AB 1482, with a current maximum annual rent increase of 8.7%.
Ample Parking! 81 on-site parking spaces, including 69 covered and 12 surface spaces.
Tenant amenities include on-site laundry facilities and an enclosed pet area!
Building Details
Building Size
35,610 SF
Buildings
2
Stories
3
Units
46
Listing Agency:
Marcus & Millichap - Los Angeles
Listed By:
Tony Azzi · License #License(s): CA: 00910513
(310) 909-5454
Source:
Marcusmillichap
Added: Sep 9
Changed: Oct 26
Last Checked: Oct 30 at 10:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Los Angeles
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Investment Insights
Based on property information with market context.
This 46-unit multifamily property comprises two adjacent three-story apartment buildings constructed in 1987 and 1989. The improvements total approximately 35,610 square feet on a combined 39,269-square-foot lot, or 0.90 acres. The unit mix includes 44 two-bedroom/one-bath residences and two one-bedroom/one-bath residences, with 100% occupancy. Property features include secured entry, on-site laundry facilities, an enclosed pet area, and 81 parking spaces consisting of 69 covered and 12 surface spaces. Gas and electricity are separately metered and paid by tenants, while second-space parking rentals and laundry provide additional income sources.
Located at 14037 Cerise Ave in Hawthorne, the property is near the I-405 Freeway, LAX, El Camino College, Del Amo Fashion Center, and South Bay Galleria. Hawthorne has no local rent control ordinance, and the units are subject to statewide AB 1482. The property is rated Very Walkable and offers access to South Bay and greater Los Angeles destinations.
Located at 14037 Cerise Ave in Hawthorne, the property is near the I-405 Freeway, LAX, El Camino College, Del Amo Fashion Center, and South Bay Galleria. Hawthorne has no local rent control ordinance, and the units are subject to statewide AB 1482. The property is rated Very Walkable and offers access to South Bay and greater Los Angeles destinations.
Key Highlights
- 46 units with 44 two‑bedroom/one‑bath and two one‑bedroom/one‑bath residences
- Approximately 35,610 square feet on a 39,269‑square‑foot lot (0.90 acres)
- 81 on‑site parking spaces: 69 covered and 12 surface
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$572,993
Cap Rate
4.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,459,860
$11.5M
Cap Rate 7%
$8,185,614
$8.2M
Cap Rate 9%
$6,366,589
$6.4M
Market Conditions
NOI Build-Up for 35,610 SF
Gross rent
$1.13M $31.80/SF
− Vacancy
−$90.6K −$2.54/SF
EGI
$1.04M $29.26/SF
− OpEx
−$468.8K −$13.17/SF
NOI
$573.0K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,459,860
Cap Rate 7%
$8,185,614
Cap Rate 9%
$6,366,589
Alternative Uses
Best Use
Apartment 5plus
$8.19M
$7.16M – $9.55M
NOI $572,993 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$19.07M
$16.68M – $22.24M
NOI $1,334,582 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
46
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,197
Businesses Nearby
Explore this area
Business Placement
Demographics for 90250, CA
97,653
Population
34,105
Households
2.9
Avg Household Size
35
Median Age
26%
College-Educated
79%
High-School Grad
6.8 sq mi
ZIP Area
14,361
Density / Sq Mi
$74,923
Median Household Income
$40,288
Median Earnings
$1,723
Median Rent
$827,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Two adjacent three-story buildings offer secured entry, on-site laundry, covered parking, and a two-bedroom-dominant unit mix.
Where is this apartment building located?
The property is located at 14037 Cerise Ave Hawthorne, CA.
What is the asking price?
The asking price for this property is $12,000,000.
What are key features of this property?
This property features: 46 units with 44 two‑bedroom/one‑bath and two one‑bedroom/one‑bath residences; Approximately 35,610 square feet on a 39,269‑square‑foot lot (0.90 acres); 81 on‑site parking spaces: 69 covered and 12 surface
