15301 Prairie Avenue

    Lawndale, CA 90260
    • $3,200,000
    • STATUS: Active
    • ON SITE: 54 days
    • ID#: 20568410
    UPDATED: 46 min ago
    $3,200,000
    • 0
      BEDS
    • 0.27
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1960
    County:

    School Ratings & Info

    Description

    This 11-unit apartment building is located in the heart of Lawndale, California. This is an opportunity to own a value-add asset in a high demand rental market with tremendous growth potential. Located Less than 2 miles away from the South Bay Galleria redevelopment project that will soon revitalize a nearly 30-acre property at the southwest corner of Artesia and Hawthorne Boulevards. The site will feature a 150-room hotel, 300 apartments, and an additional 217,000 sq. ft. of retail space and up to 175,000 sq. ft. to be used for offices. The property consists of a desirable unit mix of (1) three-bedroom/two-bathroom, (1) three-bedroom/one-bathroom, (1) two-bedroom/two-bathroom, and (8) two-bedroom/one-bathroom units. Two-bedroom units in the immediate area are currently renting from $2,050 to $2,250. Two units to be delivered vacant.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-05-26T11:25:02.893. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Empire Properties. Licensed in the State of California, USA.

    www.inlandempiresold.com/homes/104744401

    15301 Prairie Avenue Lawndale, CA 90260

    • Price: $3,200,000
    • Status: Active
    • Updated: 46 min ago
    • ID#: 20568410
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.27
    Acres
    1960
    Built
    Neighborhood:
    112 - North Lawndale
    County:
    Los Angeles
    Area:
    112 - North Lawndale
    Property Description
    This 11-unit apartment building is located in the heart of Lawndale, California. This is an opportunity to own a value-add asset in a high demand rental market with tremendous growth potential. Located Less than 2 miles away from the South Bay Galleria redevelopment project that will soon revitalize a nearly 30-acre property at the southwest corner of Artesia and Hawthorne Boulevards. The site will feature a 150-room hotel, 300 apartments, and an additional 217,000 sq. ft. of retail space and up to 175,000 sq. ft. to be used for offices. The property consists of a desirable unit mix of (1) three-bedroom/two-bathroom, (1) three-bedroom/one-bathroom, (1) two-bedroom/two-bathroom, and (8) two-bedroom/one-bathroom units. Two-bedroom units in the immediate area are currently renting from $2,050 to $2,250. Two units to be delivered vacant.
    Exterior Features

    Lot Size Units Square Feet Parking Features Assigned Parking YN Yes

    Property Features

    Additional Parcels YN No Gross Income 195936.00 Gross Multiplier 16.33 Gross Operating Income 190058.00 Net Operating Income 118686.00 Senior Community YN No Special Listing Conditions Standard Total Expenses 71372.00 Zoning Lnr3yy

    Listing provided courtesy of David Harrington of Matthews Real Estate Investment Services


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-05-26T11:25:02.893. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Empire Properties. Licensed in the State of California, USA.

     
    RE/MAX Empire Properties
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    Hemet CA, 92545