Green Tree Apartments

Gardena, CA 902471726 W. 146th St.

Property Type: Multifamily
Sold/Closed

Details

  • Price: $4,680,000
  • Cap Rate: 4.40%
  • GRM: 12.84
  • Cost per SF: $315.77
  • Cost per unit: $234,000
  • Year Built: 1959
  • Square Footage: 14,821
  • Lot Size: 20,446
  • Units: 20
  • No. Stories: 2
  • Parking: Carport
  • Transaction Type: Sold/Closed
  • Property Type: Multifamily
  • Zoning: GAR3
  • Building Class: N/A
  • APN/Parcel ID: 6103-030-029
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Property Description

Green Tree Apartments is a multifamily community totaling 20 units located at 1726 W 146th St Gardena, CA 90247. This 20-unit apartment building was built in 1959. The apartment building is 2 stories and offers 13 spacious two-bedroom/one-bath and 7 one-bedroom/one-bath units. The building construction is of wood frame with a pitched roof and painted stucco exterior.

The total building square feet is +/- 14,821 on a large +/- 20,446 square foot lot zoned GAR3. This investment opportunity presents an ideal income property for an investor looking to acquire a value-add asset with significant rental upside potential.

Common area amenities include laundry room, plenty of on-site parking and an on-site swimming pool for all the residents to enjoy. Aesthetically, the property grounds and building are well maintained and attractive. The landscaping is well kept and manicured.

The structure has beautiful frontage providing for attractive curb appeal. This is truly a pride of ownership asset.

1726 W 146th St is located in Gardena, a highly urbanized community within the South Bay Basin of Los Angeles County in a residential community among other apartment buildings and single-family homes on a quiet tree-lined street. It is roughly thirty minutes due south of downtown LA, Gardena sits in a perfect location for residents to access the best of Southern California’s beaches and urban landscape. Nearby destinations include shopping centers such as Western Plaza and Seoul Plaza, and Strip Center at 14219 S Western Ave. Parks and recreation like Compton Creek Natural Park at George Washington Elementary, Madrona Marsh Preserve & Nature Center, Watts Towers-Rodia State Park, Watts Senior Center & Rose Garden, and Augustus Hawkins Natural Park are only less than 15-minute drive. There’s also the Los Angeles Air Force Base which is 5.5 miles away from the property.

The property itself is located in a residential neighborhood and is walking distance to many stores and restaurants as it boasts a walk score of 83! The property is also just minutes driving from the 105 and 110 freeways.

The residential portions of the city are mainly divided into quiet suburban neighborhoods, with rental houses and apartments available to fit any budget. The city is distinguished by a major Japanese influence, visible in everything from gardens to architecture to the abundance of Japanese cuisine throughout the community. With Redondo Beach just twenty minutes away by car, a day by the ocean is at your fingertips anytime.

Property Highlights

  • Significant rental upside
  • Excellent unit mix
  • Well maintained building
  • Attractive financing
  • Nice residential neighborhood
  • Strong rental market
  • Central location
  • Excellent freeway access

Sales Team

Raymond A. Rodriguez IV

Founding PartnerMultifamily Investment Sales
866.582.7865 ray@lucrumre.com CA License: 01402283 Download Bio

Mathew Gates Freedman

PartnerCommercial Real Estate Sales
818.585.6888 matt@lucrumre.com CA License: 01487954 Download Bio

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Once you schedule a call, you’ll have taken the first step to getting the representation you deserve.

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