Skip To Content

1048 Marine Avenue

Gardena, CA 90247
  • $3,995,000
  • STATUS: Active
  • ON SITE: 20 Days
  • ID#: OC24026530
UPDATED: 9 min ago
$3,995,000
  • 0
    BEDS
  • 0.45
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1986
County:

School Ratings & Info

Listing Agent(s): Parker Boehle of NorthMarq Realty Services, Inc (949-717-5200) and Brent Sprenkle of NorthMarq Realty Services, Inc(949-717-5200)


Description

Built in 1986, the Marine Ave. apartments consist of two adjacent (6) unit apartment buildings onthe same APN. The property is in the Gardena market, just east of Manhattan Beach andLawndale, and also surrounded by Hawthorne and Torrance. Situated on a 19,500 square footlot, the property offers (12) Two-Bedroom/Two-Bathroom units, each measuring just under 900Sq.Ft. There are a total of (26) total parking spaces, as each unit is assigned Two Carport slots aswell as storage space. The on-site laundry room has been renovated with new washers anddryers as well.More than half of the units have been meticulously remodeled with high end finishes, featuringnew quartz countertops, new appliances, and new kitchen and bathroom vanities. In addition tothe unit remodels, units feature balconies offering quaint patio space. There was a new roof puton just over a year ago, plumbing & electrical have been upgraded, new windows have beeninstalled, and the parking area has been repaved.There is still plenty of upside in rental income to be had. This is a perfect opportunity for anyexchange buyer or investor looking to own a very low maintenance asset.

Monthly Payment Calculator



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-27T11:27:26.263. 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 Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
www.kevinhillre.com/homes/147326469
Print Image

1048 Marine Avenue Gardena, CA 90247

  • Price: $3,995,000
  • Status: Active
  • On Site: 20 Days
  • Updated: 9 min ago
  • ID#: OC24026530
0
Beds
0
Baths
0
½ Baths
0.45
Acres
1986
Built
Neighborhood:
119 - Central Gardena
County:
Los Angeles
Area:
119 - Central Gardena
Property Description
Built in 1986, the Marine Ave. apartments consist of two adjacent (6) unit apartment buildings onthe same APN. The property is in the Gardena market, just east of Manhattan Beach andLawndale, and also surrounded by Hawthorne and Torrance. Situated on a 19,500 square footlot, the property offers (12) Two-Bedroom/Two-Bathroom units, each measuring just under 900Sq.Ft. There are a total of (26) total parking spaces, as each unit is assigned Two Carport slots aswell as storage space. The on-site laundry room has been renovated with new washers anddryers as well.More than half of the units have been meticulously remodeled with high end finishes, featuringnew quartz countertops, new appliances, and new kitchen and bathroom vanities. In addition tothe unit remodels, units feature balconies offering quaint patio space. There was a new roof puton just over a year ago, plumbing & electrical have been upgraded, new windows have beeninstalled, and the parking area has been repaved.There is still plenty of upside in rental income to be had. This is a perfect opportunity for anyexchange buyer or investor looking to own a very low maintenance asset.
Exterior Features

Carport Spaces 26 Carport YN Yes Entry Level 1 Entry Location Gate Lot Features 0-1 Unit/Acre Number Of Separate Electric Meters 12 Parking Total 26 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 1 Common Wall Heating Floor Furnace Heating YN Yes

Property Features

Additional Parcels YN No Cap Rate 5.16 Common Interest Community Apartment Community Features CurbsGolfGutter(s)Street LightsSidewalks Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 320700 Gross Scheduled Income 320700 Insurance Expense 0 Land Lease YN No Laundry Features Laundry Room Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashConventional1031 Exchange Net Operating Income 206269 New Construction YN No Number Of Separate Gas Meters 12 Number Of Separate Water Meters 1 Operating Expense 107210 Property Sub Type Apartment Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Water Sewer Expense 0 Water Source Public Zoning GAR3



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-27T11:27:26.263. 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 Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372375167-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372375167-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372375167-2.jpg
Logo
Berkshire Hathaway HomeServices California Properties
25909 Pala Dr, Suite 100
Mission Viejo CA, 92691
Listing Agent(s): Parker Boehle of NorthMarq Realty Services, Inc (949-717-5200) and Brent Sprenkle of NorthMarq Realty Services, Inc(949-717-5200)