2912-2924 W. 141st Pl & 2925 W. Rosecrans Ave 2912-2924 W 141st Plz 32 Unité Immeuble d’appartements 15 433 600 $ CAD (482 300 $ CAD/Unité) 6,44% Taux de capitalisation Gardena, CA 90249

ASSET
32-unit apartment property located in Gardena. No local rent control – defaults to AB 1482. The property is situated on 5 separate parcels, each with its own APN. With a combined 38,990-SF lot, the property features an outstanding unit mix of (22) 3-bedroom/2-bathroom units, (7) 2-bedroom/2-bathroom units, and (3) studio/1-bathroom units. The asset has undergone over $1,500,000 in capital expenditures during the past five years, including approximately $774,000 in interior and in-unit renovations. A majority of the units have been renovated with new kitchens, bathrooms, and flooring. There have also been extensive electrical upgrades, including updated interior electrical panels for a majority of the units. Five of the six roofs are new. Furthermore, the property features new main sewer lines, updated plumbing, new hot water heaters, on-site laundry facilities and a total of 32 parking spaces.
LOCATION
2912-2924 W. 141st Place & 2925 W. Rosecrans Avenue are located just north of Rosecrans Avenue, approximately 1 mile from SpaceX and 3 miles from SoFi Stadium and Intuit Dome. With direct access to the 110 Freeway, the investment possesses immediate transit to the many surrounding employment hubs of the South Bay and Downtown Los Angeles.
FINANCIALS
This 38,590-SF asset presents stable in-place rents as well as legitimate rental upside. The asset contains a current cap rate of 6.44% and current GRM of 10.09 and a pro-forma cap rate of 7.32% and pro-forma GRM of 9.19.

Disclosure:
Gardena is n ot subject to local rent control; however, Gardena has Rent Mediation.