144 Whiting St - Apartments FOR SALE


El Segundo, CA 90245
$2,200,000 USD
310-710-3829
144 Whiting St, El Segundo, CA for Sale
$2,200,000 USD
Apartments - FOR SALE
1/29
null | 3.89% Cap Rate

144 Whiting St
El Segundo, CA 90245


HIGHLIGHTS

  • Charming Bungalow-Style 5-Unit Apartment Property in a Highly Desirable El Segundo Location
  • Attractive Cost Per Unit of $440,000 – Below the $466,105 Average Cost Per Unit of Recent El Segundo Multifamily Sales Comps
  • Strong Value-Add Component – Approximately 27% Remaining Rental Upside Through Increasing Rents to Market
  • 3.89% Current CAP Rate | 5.21% Pro Forma CAP Rate | 15.41 Current GRM | 12.73 Pro Forma GRM
  • 2-Bed/1-Bath Front House with Front Yard, Middle Building w/ 1 Studio Unit & (2) 2-Bed/1-Bath Units, 1-Bed/1-Bath Back House w/ Front Yard
  • Four Private 1-Car Garages + On-Site Laundry Room & Courtyard

OVERVIEW

144 Whiting St is a charming bungalow-style 5-unit apartment property located in the highly desirable El Segundo submarket. Built in 1953, the property features an attractive unit mix of four 2-bedroom/1-bath units and one studio unit, totaling approximately 3,324 square feet of improvements on a 6,455 square foot lot. The property features a unique low-density residential layout with private exterior entrances and four private 1-car garages, providing highly desirable on-site parking for tenants. Offered at $2,200,000, the property represents an attractive basis of $440,000 per unit, below the $466,105 average price per unit of the recent El Segundo multifamily sales comparables. The property offers new ownership an immediate opportunity to improve income, with four of the five units currently on month-to-month leases and rental increases available upon acquisition. Current monthly rents total $11,150 compared to projected market rents of $14,150, representing approximately 27% remaining rental upside. At the asking price, the property generates a 3.89% current CAP rate with the potential to achieve a projected 5.21% pro forma CAP rate as rents are brought toward market levels. Ideally situated near Downtown El Segundo, 144 Whiting St benefits from convenient access to the beach, LAX, major employment centers, dining, retail, and entertainment amenities. The property offers investors the opportunity to acquire a well-located, character-rich multifamily asset with strong long-term fundamentals in one of the South Bay’s most desirable coastal rental markets.

FOR SALE DETAILS

PRICE

$2,200,000 USD

PRICE/SF

$564 USD /SF

# OF UNITS

5

PRICE/UNIT

$440,000

CAP RATE

3.89%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1953

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,447 SF

ZONING

R3, El Segundo

APN/PARCEL ID

4136-029-001

ASK ABOUT THIS PROPERTY

Woody StahlLyon Stahl Investment Real Estate, Inc.More Info
310-710-3829

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

Woody StahlLyon Stahl Investment Real Estate, Inc.More Info
310-710-3829

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