17220 Grevillea Ave, Lawndale, CA 90260
- $3,950,000
- 16
- BD
- 16
- BA
- 8,165
- SqFt
- List Price
- $3,950,000
- MLS#
- 26859087
- Status
- ACTIVE
- Type
- Multifamily
- Bedrooms
- 16
- Bathrooms
- 16
- Living Area
- 8,165
Property Description
Prime South Bay Location: 16-unit apartment situated on a large 14,411-SF lot in a highly desirable Lawndale location, west of Hawthorne Boulevard, 2 blocks from South Bay Galleria and just 3 blocks from Redondo Beach. Exceptional ADU Potential: Large lot and ample parking areas present the opportunity to add up to 8 ADUs, including the potential to convert space above carport spaces into 2 new ADUs without eliminating any parking (Buyer to Verify). Strong Cash Flow & Rental Upside: 5.90% current cap rate and 10.67 GRM, with upside to a 6.64% pro-forma cap and 9.80 GRM, or a 6.52% current cap and 7.26% pro-forma cap with the implementation of RUBs. Recent Capital Improvements: Property features new main electrical, new electrical subpanels in each unit (2026), newer roof (2023), upgraded units, and recent exterior and landscaping improvements. Value-Add Utility Reimbursement Opportunity: Master-metered for gas and electricity, providing investors with the opportunity to implement RUBs to recapture utility expenses and improve operating efficiency. Favorable Property Attributes: On-site laundry facility, 16 parking spaces, and no local rent control (AB 1482 only).
Additional Information
- Year Built
- 1959
- Garage
- Covered Parking
Mortgage Calculator
Courtesy of Shield CRE, Inc., Jonathan Nikfarjam.
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