14815 Prairie Ave - Apartments FOR SALE


Lawndale, CA 90250
$4,650,000 USD
424-239-5903
14815 Prairie Ave, Lawndale, CA for Sale
$4,650,000 USD
Apartments - FOR SALE
1/8
null | 5.88% Cap Rate

14815 Prairie Ave
Lawndale, CA 90250


HIGHLIGHTS

  • 18 Total Units - No Local Rent Control
  • Unit Mix of 12 One-Bed/One-Bath and 6 Two-Bed/One-Bath units
  • 17,771 SF Lot IMproved with `13,521 Groos Square Feet Across Three Buildings
  • Quiet Lawndale Neighborhood Bordering City of Torrance
  • Close Proximity to Alondra Park and El Camino College

OVERVIEW

14815 PRAIRIE is an 18-unit garden-style apartment community located across three buildings at 14803, 14807, and 14815 Prairie Avenue in the city of Lawndale. The property totals approximately 13,521 square feet of building area situated on a 17,771-square-foot lot. Built in 1957, each building is two stories with tuck-under parking at the front, facing Prairie Avenue. Because the property is in the City of Lawndale, it is not subject to a local rent control ordinance; only the statewide AB 1482 rent cap applies. The unit mix consists of 12 one-bedroom/one-bath units averaging approximately 700 square feet and 6 two-bedroom/one-bath units averaging approximately 850 square feet, for a blended average of approximately 751 square feet. Residents have access to an on-site laundry room and on-site parking (18 spots). All of the windows have been updated and select units at the property have been renovated with upgrades, including hardwood flooring and granite countertops. The property is individually metered for electricity and gas. The property is in a quiet residential pocket of Lawndale bordering the City of Torrance, approximately two blocks from the 405 Freeway and one mile from El Camino College.

FOR SALE DETAILS

PRICE

$4,650,000 USD

PRICE/SF

$344 USD /SF

# OF UNITS

18

PRICE/UNIT

$258,333

CAP RATE

5.88%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1957

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,860 SF

ZONING

LNR3YY

APN/PARCEL ID

4077-016-018

ASK ABOUT THIS PROPERTY

Steffan BraunlichBerkadiaMore Info
424-239-5903

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

Steffan BraunlichBerkadiaMore Info
424-239-5903

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