14719 Berendo Ave Gardena, CA 90247-3089

Property Details for 14719 Berendo Ave

Year built

1960

Construction

WOOD

Lot size

0.17 lot acres

Property size

4,538 SF

Zone code

GAR3

Property type

Apartment buildings

APN

6114-022-020

APU

6114022020

Description

This exceptional 8-unit apartment building in Gardena, California, presents a compelling investment opportunity. The property, located at 14719 S Berendo Ave, boasts 5,187 square feet of net rentable space across a two-story building constructed in 1960. The asking price is $2,200,000, translating to $275,000 per unit and $424.14 per square foot. The property features a desirable unit mix, including seven 2-bedroom/1-bathroom units and one brand-new 1-bedroom/1-bathroom accessory dwelling unit (ADU) measuring 649 square feet. The ADU includes washer/dryer hookups and air conditioning. All units have been fully renovated with new floors, kitchens, and bathrooms. Major building systems are in excellent condition. The property includes 12 on-site parking spaces and a laundry room generating an additional $875 per month in income. The current net operating income (NOI) is $132,478, resulting in a 6.02% cap rate. Pro-forma NOI is projected at $146,626, yielding a 6.66% cap rate. The property sits on a 7,503 square foot lot and is zoned GAR3. Its prime location offers convenient access to major employers, including SpaceX, Amazon Ring, Boeing, Hollywood Park, and SoFi Stadium. This turnkey asset is non-rent controlled and offers significant potential for strong cash flow and appreciation. The property's RUBS system is in place.