13629 Kornblum Ave, Hawthorne, CA 90250

13629 Kornblum Ave, Hawthorne, CA 90250

Hawthorne, CA

Property Description

Palm View Village Apartments is a 44-unit, value-add multifamily opportunity in Hawthorne, CA. The property is located at 13629 Kornblum Ave. , Hawthorne, CA 90250 and is situated between Prairie Ave. to the west and Crenshaw Blvd to the east. , one block south of 135th St. The surrounding area is in the midst of substantial growth as a result of the SpaceX headquarters and Hollywood Park redevelopment, which includes the new SOFi Stadium, The Forum, and the Intuit Dome, which will be the LA Clippers new home arena. The property, built in 1970, features a well-balanced unit mix of (2) Studios, (23) 1 Bd/1 Ba units, and (19) 2 Bd/1 Ba units. Situated on a large (39,036 sq. ft. ) lot, the building is well-parked with 40 covered parking spaces, which are a mix of carports and tuck-under parking. Recent upgrades include completion of the seismic retrofit work, a new exterior façade and light interior rehabs as units have become vacant.

Property Features

  • Sale Price: $12,950,000
  • Area Size: 31,454 Sq. Ft.
  • Land Area: 39,036 Sq. Ft.
  • Year Built: 1970
  • Listing Date: 1/17/2023
  • Units: 44
  • Current GRM: 13.48
  • Current Cap Rate: 4.71%
  • Market GRM: 11.55
  • Market Cap Rate: 5.86%

Lyon Stahl Investment Real Estate

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