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13605 Cerise Avenue

Hawthorne, CA 90250

$3,995,000

List Price

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1986

calendar_month Built

Property Description

We are pleased to announce that we have just listed 13605 Cerise Ave., Hawthorne, CA, which is a beautiful 3-story, 15-unit apartment building built in 1986. This is the first time the property has been on the market, originally developed by the seller. The owner recently installed a brand-new roof and painted the entire building. The units are huge (averaging 858 sq. ft.) and very well laid out. The unit mix consists of 1-3bd/2ba townhouse unit, 1-2bd/1ba unit, 1-2bd/2ba unit, and 12-large 1bd/1ba units. The units have expansive city views. There is abundant parking at the property, with one enclosed garage spot, 21 tuck under spaces and 5 car port parking spaces at the rear of the property. Due to the ample parking, a buyer should be able to explore the possibility of converting the car port and building 1 or 2 ADU. The front townhouse unit has a nice, fenced yard that will be delivered vacant. There is a large laundry room on the ground floor. The parking lot is secured with a remote opener for the convenience of the tenants. The area surrounding the property consists of single-family homes and small to mid-sized apartment buildings. The property is located approximately 2 miles from both the 105 and 405 Freeways, which provide quick access to major employment centers throughout the area, including LAX, Inglewood, Gardena, the Beach Cities, the Westside and Downtown LA. The subject property also benefits from its close proximity to the SpaceX Research and Development Center. The property is listed at $3,995,000, which is well below replacement cost at $310.07 per sq. ft. and $266,333 per unit. The property is listed just under a 5% cap rate and should deliver a solid cash flow with rent upside. Offering Memorandum included as a supplement to this listing.

Listing Information

List Price $3,995,000
Status Pending
MLS SB24182655
HOA $0
Type Residential Income
Subtype Apartment
Year Built 1986
Lot Size 13,292
Structure Size N/A
DOM 50
Courtesy Of Lyon Stahl Investment Real Estate, Inc.
Listing Agent Martin Ensbury DRE#00815392

Interior Features

Laundry Information
Location(s) Common Area
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Fireplace Information
Features None

Exterior Information

Maps

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Listing information courtesy of: Martin Ensbury, Lyon Stahl Investment Real Estate, Inc. 310-546-8133. *Based on information from the Association of REALTORS/Multiple Listing as of Oct 23rd, 2024 at 6:15 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.