Sold – 5-Unit Building in Hawthorne | $1,445,000
Chris Van Vuuren, Nico Rosmarin, Ryan Rembert, and Mason Rowland of Lyon | Stahl Investment Real Estate are proud to have closed 11413 Menlo Ave, a 5-unit apartment building in Hawthorne!
This property sold for $1,445,000
This 5,188 square foot structure was built in 1963 and is situated on a large 6,952 square foot parcel of land. The property boasts a terrific unit mix consisting of (1) 3-bed/2-bath and (4) 2-bed/1-bath spacious units.
Four of the five units have been fully renovated with high-end finishes. By renovating the fifth unit and increasing the rents to market the property can operate at a Pro Forma CAP Rate of 5.89% and a Pro Forma GRM of 11.99. This turn-key asset is centrally-located near Space-X, the 105 & 405 Freeway and Hollywood Park Redevelopment making it a great investment opportunity in a rapidly appreciating market!
The most heavily populated county in the country is Los Angeles County with approximately 9.9 million people, including about 1 million that live in unincorporated areas of the county. Los Angeles County is home to one of the most educated labor pools in the country and offers a labor force of more than 4.7 million, of which more than 1.5 million are college graduates. According to the United States Conference of Mayors, Los Angeles County boasts a GDP among the twenty largest in the world. Los Angeles County’s continued economic growth, in contrast to other areas of the state and nation, is due to its diversified economy and abundant, well-trained workforce.
Los Angeles County is well located on the Southern Coast of California, and covers 4,061 square miles, including the San Clemente and Santa Catalina islands. The County is comprised of approximately 88 vibrant and diverse cities hosting more than 244,000 business establishments— the greatest concentration in the state. Los Angeles County has a Gross Domestic Product (GDP) of approximately $446 billion – placing it among the top 20 economies in the world. The combined GDP of Los Angeles and its five surrounding neighboring counties places it in the top 10. California is generally considered to be in the top five.
Over the years, Los Angeles County has developed a diverse economic base, supported by a number of Fortune 500 companies with headquarters in the area, including Hilton Hotels, Walt Disney, Occidental Petroleum, DirecTV Group, Northrop Grumman, and many more. Key factors positively impacting the region’s economic position include increased local media production by the entertainment industry and a continuing expansion of import flows. Los Angeles’ well-educated labor pool, many universities, wonderful climate, and world-class infrastructure will enable Greater Los Angeles to continue to be a world leader in economic and cultural significance.
For future listings:
- Contact Chris Van Vuuren at [email protected] – (424) 200-8960
- or Nico Rosmarin at [email protected] – (424) 226-9449