16720 Dalton AveGardena, CA 90247

This exceptional 5-unit apartment building in Gardena, CA presents a compelling investment opportunity. Boasting a 100% occupancy rate, the property generates a substantial net operating income (NOI) of $87,363, yielding a 4.06% cap rate. A pro-forma NOI of $99,094 projects a 4.61% cap rate, reflecting significant upside potential. Built in 1988, the property features a mix of unit sizes: one 3-bedroom/3-bathroom unit and four 2-bedroom/1-bathroom units. The absence of rent control allows for substantial rental increases, with the potential for an 8.9% annual increase on all five units, effective August 1, 2024. Two units are currently on month-to-month leases, offering immediate opportunities to raise rents to market value. The property sits on a 7,500 sq ft lot and includes 10 parking spaces (2 garage, 8 carport). Conveniently located near major freeways (Artesia (91) and Harbor (110)), this property offers easy access to transportation. Additional features include an electric remote front gate and a desirable GAR3 zoning designation. The asking price is $2,150,000, or $430,000 per unit. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a prime Gardena location with significant growth potential. The property's address is 16720 Dalton Ave, Gardena, CA 90247, APN 6106-024-017. The total square footage is 4,494 across a two-story building.