New Listing – 4 Bungalow-Style Units in Lawndale

New Listing – 4 Bungalow-Style Units in Lawndale

Johnnie Stiegler of Lyon | Stahl Investment Real Estate is pleased to present 14524 Condon Ave, 4 bungalow-style units for sale in Lawndale!

Listed at $1,350,000 this building built in 1960 has a cap rate of 2.64% and a GRM of 22.77

Situated on a large 10,798 Sqft. lot are (4) 2-bed/1-bath bungalow-style units and (2) 2 car garages. Located just minutes from Manhattan Beach and Redondo Beach, this unique property offers tenants a single-family home experience with no common walls, garage parking, individual metering, and Washer/Dryer hookups in each unit. Two of the four units feature brand new roofing, installed in September 2017 and all plumbing has been updated to copper piping.

This is an excellent opportunity for an investor and/or owner-user to acquire a unique income property in an area with limited inventory and inevitably rapid appreciation potential, with significant rental upside and no rent control!


Investment Highlights:
● Unit Mix: (4) 2-Bed/1-Bath Bungalow-Style Units
● 3,615 SF of Total Living Area Situated on a large 10,798 SF Lot
● (2) 2-Car Garages plus Additional Carport Parking
● Brand New Roof Installed on 2 of the 4 Units
● All Plumbing Converted to Copper
● Washer/Dryer Hookups in Each Unit

City Overview:
Lawndale is a city in the South Bay region of Los Angeles County with a population of 32,769 in an area of 2 square miles. Lawndale is bordered by Redondo Beach, Hawthorne, and Torrance. Because of the Palos Verdes Peninsula and its proximity to the beach, Lawndale gets effects of the marine layer similar to nearby beach cities Manhattan Beach and El Segundo.

Lawndale real estate values have gone up 7.2% over the past year and the median price of homes currently listed in Lawndale is $487,000.

The Lawndale Elementary School District serves residents and middle schools include Will Rogers and Jane Addams Middle School. Within the Centinela Valley Union High School District are Lawndale High School, Leuzinger High School, Hawthorne High School, and Lloyde High School. Russell Westbrook, NBA Player and MVP Winner for the Oklahama City Thunder, attended Leuzinger High School in Lawndale.

 

 

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