10720 Burin Ave - Apartments FOR SALE


Lennox, CA 90304
$4,295,000 USD
310-292-0332
10720 Burin Ave, Lennox, CA for Sale
$4,295,000 USD
Apartments - FOR SALE
1/18
null | 6.91% Cap Rate

10720 Burin Ave
Lennox, CA 90304


HIGHLIGHTS

  • Approved RTI permits are in place for 2 ADUs with potential for 3 more
  • Priced under $200,000 per unit

OVERVIEW

22-unit multifamily turnkey asset priced at under $200k per unit, ideally positioned in unincorporated Los Angeles just 1.5-2 miles from SoFi Stadium, Intuit Dome, YouTube Theater, The Kia Forum, and Hollywood Park. Approved RTI permits are in place for 2 ADUs with potential for 3 more, and a Ratio Utility Billing System has been initiated allowing owners to recover a portion of utility expenses from tenants over time. Significant capital improvements have already been completed including new roofs, sewer lines, double-pane windows, water heaters, gutters, and central air and heat systems, allowing a new owner to step in with stable operations and minimal deferred maintenance from day one. The majority of units have updated kitchens and baths, and current rents are below market with a natural runway for growth through turnover. The property is fully gated across two buildings with 32 parking spaces. Located adjacent to Inglewood with LAX three miles away and major employers including SpaceX and Northrop Grumman within four miles.

FOR SALE DETAILS

PRICE

$4,295,000 USD

PRICE/SF

$205 USD /SF

# OF UNITS

22

PRICE/UNIT

$195,227

CAP RATE

6.91%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Burin Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

32

LAND DETAILS

LAND ACRES

0.37 AC

LAND SF

16,322 SF

ZONING

R3, County

APN/PARCEL ID

4036-017-025

ASK ABOUT THIS PROPERTY

Gary ElminoufiBeach City BrokersMore Info
310-292-0332

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Gary ElminoufiBeach City BrokersMore Info
310-292-0332

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.