16720 Dalton Ave Gardena, CA 90247-5423
- Apartment buildings
- 4,494 SF
- 0.17 lot acres
Aug 24, 2022
Current Use by Public Records
- Apartment buildings
Property Details for 16720 Dalton Ave
- Year built
- 1988
- Construction
- WOOD
- Lot size
- 0.17 lot acres
- Property size
- 4,494 SF
- Zone code
- GAR3
- Property type
- Apartment buildings
- APN
- 6106-024-017
- APU
- 6106024017
Description
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.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,450,000
- ML approach
- $1,520,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,205,000
- 6.5%
- $1,110,000
- 7%
- $1,035,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,388,000
Market price range: $644k - $1.39M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $1,080,000 Current use
- MEDICAL BUILDING
- $2,045,000 Change: +90% Conversion: Moderate
- OFFICE BUILDING
- $1,435,000 Change: +33% Conversion: Moderate
- COMMERCIAL (GENERAL)
- $1,435,000 Change: +33% Conversion: Moderate
- WAREHOUSE, STORAGE
- $1,265,000 Change: +17% Conversion: Difficult
- RETAIL STORES
- $1,055,000 Change: -2% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Gardena
- County
- Los Angeles
- State
- California
- Longitude
- -118.304
- Latitude
- 33.879
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
