1300 134th St Gardena, CA 90247-1957
- Apartment buildings
- 11,708 SF
- 0.78 lot acres
May 25, 2021
Current Use by Public Records
- Apartment buildings
Property Details for 1300 134th St
- Year built
- 1951
- Construction
- WOOD
- Lot size
- 0.78 lot acres
- Property size
- 11,708 SF
- Zone code
- GAM1
- Property type
- Apartment buildings
- APN
- 6115-004-006
- APU
- 6115004006
Description
This exceptional Class A, 23-unit apartment building in Gardena, California presents a compelling investment opportunity. Boasting a substantial 13,760 square feet of net rentable space on a large 34,122 square foot lot, this fully stabilized asset offers a current cap rate of 6.16% and a pro-forma cap rate of 6.31%. The property, built in 1951 and featuring two stories, generates a current NOI of $366,362 and a pro-forma NOI of $375,300. The asking price is $5,950,000, translating to $258,695.65 per unit and $432.41 per square foot. The building comprises a desirable unit mix: one 3-bedroom/1-bathroom, three 2-bedroom/1-bathroom, eighteen 1-bedroom/1-bathroom, and one studio/1-bathroom unit. Each unit is equipped with modern amenities including new floors, cabinets, bathrooms, and in-unit washer/dryer hookups. The property includes 21 on-site parking spaces. Significant recent improvements include new windows, roof, and plumbing, resulting in an extremely low-maintenance, high-cash-flow asset. Its prime location offers convenient access to major employers and new developments, including SpaceX, Amazon Ring, Boeing, Hollywood Park, and SoFi Stadium. This turnkey investment is ideal for discerning buyers seeking strong returns in a thriving market.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,280,000
- ML approach
- $3,550,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $3,140,000
- 6.5%
- $2,900,000
- 7%
- $2,690,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $3,617,000
Market price range: $1.68M - $3.62M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $2,805,000 Current use
- MEDICAL BUILDING
- $5,320,000 Change: +90% Conversion: Moderate
- OFFICE BUILDING
- $3,745,000 Change: +33% Conversion: Moderate
- COMMERCIAL (GENERAL)
- $3,740,000 Change: +33% Conversion: Moderate
- INDUSTRIAL (GENERAL)
- $3,510,000 Change: +25% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Gardena
- County
- Los Angeles
- State
- California
- Longitude
- -118.299
- Latitude
- 33.9104
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
