16806 S Western Avenue, Gardena, CA 90247

$1,700,000
List Price
$1,700,000
Status
ACTIVE
MLS#
SB23012135
Year Built
1961
Lot Size
6,499
Acres
0.15
Lot Location
Item01UnitAcre
Days on Market
4
Property Type
Multifamily
Property Sub Type
Mixed Use
Stories
Two Levels

Property Description

We are proud to present 16800 S Western Avenue, located in the vibrant Western Avenue Corridor in the City of Gardena. This mixed-use property offers an opportunity for strong cash flow and growth potential in a location surrounded by strong commerce with global companies, an abundance of restaurants and entertainment, and a thriving population. It is currently operating at a 5.4% CAP with over 30% upside in rental increases and has an attractive price per door of 154k/Unit. This 6,499 Sq.Ft. Lot is situated on the corner of Western Avenue & 168th Street, and has 3,587 Sq.Ft. of rentable building space. 875 Sq.Ft. of the total rentable space is commercial (retail/office) and faces Western Avenue. The current owner will lease it back at market value for a barbershop. 2,700 Sq.Ft. of the total rentable space is allotted for 10-units of residential income. The unit mix consists of one (1) 2-Bed/1-Bath, three (3) 1-Bed/1-Bath, six (6) Studios . Property also features ample street parking, a garage (potentially up to 4 additional parking spaces), a laundry room, and extra bathroom for visitors of the space, all located towards the rear of the property. The current owner has done a tremendous amount of work to both the interior and exterior which includes new flooring, windows, stucco, electrical gates, new interior and exterior paint and more. The property is in close proximity to the business rich South Bay area of Los Angeles, surrounded by aerospace, technology, entertainment, automotive, manufacturing, and just minutes from the 405 and 110 freeway, which provides short and easy access to Downtown LA, LAX, Port of Los Angeles, the South Bay beach communities, as well as the new So-Fi Stadium in Inglewood. This premier mixed-use property brings the potential for established commercial and residential tenants in “The City of Opportunity” booming with growth and activity.

Additional Information

Pool Description
None
Garage Spaces Total
4
Sewer
Public Sewer
Water
Public
Attached Structure
Detached
Number Of Units Total
11
Gross Scheduled Income
$148,620
Operating Expense
40895

Listing courtesy of Listing Agent: John Stiegler II (johnnie@lyonstahl.com) from Listing Office: Lyon Stahl Investment Real Estate, Inc..

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Based on information from California Regional Multiple Listing Service, Inc. as of . 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.