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13605 Cerise AVE Hawthorne, CA 90250
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Key Details
Sold Price $3,995,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB24182655
Sold Date 11/30/24
HOA Y/N No
Year Built 1986
Lot Size 0.305 Acres
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.
Location
State CA
County Los Angeles
Area 110 - East Hawthorne
Zoning HAR3*
Interior
Fireplaces Type None
Fireplace No
Laundry Common Area
Exterior
Parking Features Covered, Carport, Garage, Tandem
Garage Spaces 1.0
Carport Spaces 5
Garage Description 1.0
Pool None
Community Features Curbs, Street Lights, Sidewalks, Urban
Total Parking Spaces 6
Private Pool No
Building
Lot Description 11-15 Units/Acre
Story 3
Entry Level Three Or More
Sewer Public Sewer
Water Public
Level or Stories Three Or More
New Construction No
Others
Senior Community No
Tax ID 4052004003
Energy Description 6204.0
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Todd Slatcher • Jamison Management Company
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