1127 West 164th Street
Multifamily | 5.63% CAP | 5 Units
Marketing description
ASSET
5-unit apartment located in Gardena. No local rent control – defaults to AB 1482. Situated on a 6,315-SF lot, the property contains a unit mix (one) 3-bedroom/2-bathroom townhouse unit, (two) 2-bedroom/1-bathroom units, (one) 1-bedroom/1-bathroom unit and (one) studio/1-bathroom unit. There is an on-site laundry facility and a total of five garage parking spaces.
LOCATION
1127 West 164th Street is located in a desirable pocket of Gardena, south of Redondo Beach Boulevard. The asset is approximately a half-mile from Artesia Boulevard and the Pacific Square Shopping Center and is in close proximity to the many retail shops, restaurants, entertainment, and shopping centers of the area.
FINANCIALS
This 3,527-SF asset contains strong in-place rents with a current cap rate of 5.63% and current GRM of 12.20 and a pro-forma cap rate of 6.64% and pro-forma GRM of 10.82.
Disclosure:
Gardena is not subject to local rent control; however, Gardena has Rent Mediation.
Investment highlights
- Highly Desirable Gardena Location - South of Redondo Beach Boulevard
- Unit Mix of (One) 3-Bedroom/2-Bathroom Townhouse Unit, (Two) 2-Bedroom/1-Bathroom Units, (One) 1-Bedroom/1-Bathroom Unit & (One) Studio/1-Bathroom Unit
- 5.63% Current Cap Rate & 12.20 Current GRM
- 6.64% Pro-Forma Cap Rate & 10.82 Pro-Forma GRM
- Newer Roof
- On-Site Laundry Facility
- Total of Five Garage Parking Spaces
- Located Approximately a Half-Mile from Artesia Boulevard & the Pacific Square Shopping Center
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