814 W Redondo Beach Blvd, Gardena, CA 90247

OFFERING MEMORANDUM: https://www.dropbox.com/scl/fi/bexqtt2s3gyqzr5tho2sp/814-W.-Redondo-Beach-Boulevard-Offering-Memorandum.pdf?rlkey=a562k0lrc77m21nvvkctpq0x1&e=1&st=k2puthcn&dl=0

ASSET

10-unit apartment located in Gardena built in 1986. Property is not subject to L.A. City Rent Stabilization Ordinance – defaults to AB 1482. Situated on a large 16,926-SF lot, the property is comprised of (1) 2-bedroom/2-bathroom unit and (9) 2-bedroom/1-bathroom units. Each unit contains individual hot water heaters and air conditioners.

The large lot presents a desirable opportunity to add ADUs in the parking area at the rear of the property. Furthermore, the property is gated and features newer windows, an on-site laundry facility, 3 storage units, 2 garages, and 18 surface parking spaces.

LOCATION

814 W. Redondo Beach Boulevard is located in a desirable pocket of Gardena, just a few blocks from Gardena Plaza, Tokyo Central Market, Hustler Casino and Memorial Hospital of Gardena. The asset is conveniently located to the many retail shops, restaurants, entertainment, and shopping centers of the area.

FINANCIALS

814 W. Redondo Beach Boulevard has a desirable assumable loan of approximately $1,472,000 remaining which is fixed at 3.57% until May 2032. This 9,200-SF apartment presents stable in-place rents as well as legitimate rental upside. The asset contains a current cap rate of 5.24% and current GRM of 11.99 and a pro-forma cap rate of 6.38% and pro-forma GRM of 10.01.

*Loan amount and terms for assumable note are subject to change. Buyer to verify. Please do not disturb tenants. Buyer to conduct their own due diligence and investigation.