ASSET 18-unit apartment located in Gardena. No local rent control – defaults to AB 1482. The property is comprised of (10) 2-bedroom/1-bathroom units and (8) 1-bedroom/1-bathroom units. 13 of the 18 units have been remodeled and include stainless steel kitchen appliances, granite counters, crown and base moldings, new doors, double-pane windows, light fixtures, and double pole and shell closets. Each unit has an individual 1-car garage. Situated, on a large 19,336-SF lot, the property is gated features intercom access, a pool and 2 on-site laundry facilities. The large lot and ample garage areas present a desirable opportunity to add ADUs. LOCATION 15505 S. Budlong Place is located in a desirable pocket of Gardena, south of Redondo Beach Boulevard. The asset is just a few blocks from the Pacific Square Shopping Center and in close proximity to Gardena Market Place the many retail shops, restaurants, entertainment, and shopping centers of the area. FINANCIALS This 13,832-SF apartment presents stable in-place rents as well as legitimate rental upside. The asset contains a current cap rate of 5.13% and current GRM of 11.82 and a pro-forma cap rate of 6.44% and pro-forma GRM of 10.14. Disclosure: Gardena is not subject to local rent control; however, Gardena has Rent Mediation.