5
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Listed by Robert Sillman • Lyon Stahl Investment Real Estate, Inc.
$3,100,000
Est. payment /mo
11,740 SqFt
Pending
1835 West 166th Street Gardena, CA 90247
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Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Pending
Purchase Type For Sale
Square Footage 11,740 sqft
Price per Sqft $264
MLS Listing ID SB-25060628
Year Built 1961
Lot Size 0.368 Acres
Property Sub-Type Apartment
Property Description
Welcome to 1835-1845 W 166th St, a 15-unit apartment building located in the nicest residential pocket of Gardena. Offered at a 5.61% CAP, 10.92 GRM, $206,667/unit and $264/sqft with 46% rental upside, this asset presents an excellent value-add opportunity for investors. The property spans 11,740 sqft, offering a favorable mix of (9) 2-bed/1-bath and (6) 1-bed/1-bath units across two separate buildings on a single APN. Situated on a spacious 16,016 sqft corner lot on the west side of Western Ave, the property is conveniently located near El Camino College, Alondra Park, and Lincoln Elementary School. Additional amenities include 15 tandem parking spaces (30 total), two laundry rooms (each with leased W/D combos), a grassy yard, a central courtyard, and separate meters for gas and electricity. Rents are due for a rent increase of 5% + CPI (currently 8.9%), presenting an immediate opportunity for income growth. There are also significant ADU possibilities for (3) 3-bed/2-bath units in the covered parking while still maintaining on-site parking for tenants. Inquire about debt quotes at 60% LTV, 5-year fixed rate at 5.95%. Underwriting and loan data reflect allowable rent increases. Please reach out for the Offering Memorandum.
Location
State CA
County Los Angeles
Area 119 - Central Gardena
Zoning GAR3
Interior
Heating Central
Cooling None
Fireplaces Type None
Laundry Community
Exterior
Parking Features Gated
Garage Spaces 1.0
Pool None
Community Features Biking
Building
Lot Description 0-1 Unit/Acre
Sewer Public Sewer