1338 163Rd St Gardena, CA 90247

Property Details for 1338 163Rd St

Year built

1994

Property size

4,198 SF

Property type

Commercial real estate

Description

This exceptional Gardena investment property presents a rare opportunity to acquire a well-maintained three-unit apartment building, built in 1994, offering significant upside potential. The property comprises three spacious, two-story townhome-style units, each approximately 1,400 square feet, featuring two-car garages, private balconies, central air conditioning and heating, and washer/dryer hookups. The unit mix includes one three-bedroom, two-and-a-half-bathroom unit and two two-bedroom, two-and-a-half-bathroom units. The property boasts a newly installed roof, ensuring long-term cost savings. Situated on a 6,747 square foot lot in desirable central Gardena, this property offers convenient freeway access. With a total square footage of 4,198 and an asking price of $1,400,000, the price per square foot is $333. A pro-forma cap rate of 5.54% indicates strong potential returns. The property is not subject to rent control, except for AB 1482, and boasts over 50% potential rental upside. This presents an ideal opportunity for owner-users seeking to occupy one unit while generating rental income from the others. Additionally, the property offers the potential for a tenant-in-common (TIC) conversion, with comparable condos selling for $600,000 or more (buyer to verify). This multifamily investment property offers a compelling combination of immediate income generation and long-term appreciation potential.

Location Insight

City

Gardena

County

Los Angeles

State

California

Longitude

-118.2988696

Latitude

33.8829411