1717-1727.5 Marine Ave, Gardena, CA 90247

1717-1727.5 Marine Ave, Gardena, CA 90247

Gardena, CA
2,500,000

Property Description

1717-1727.5 Marine Ave is a dream lot of land in the sought after city of Gardena. This 9 unit opportunity sits on an oversized R3 zoned lot, measuring 29,857 square feet. At just $83 a square foot, this is one of the cheapest usable lots in Los Angeles. Currently the property has 9 detached bungalow units, consisting of eight (8) 1-bedroom/1-bathroom and one (1) 2-bedroom/1-bath units. Gardena is well known for its strong community and high quality dining and entertainment options. The subject property is separately metered for gas and electric and a majority of the plumbing is copper. With over 30% upside in rents, an investor potentially can add at least 2 ADU dwellings increasing the market CAP rate over 6%!

Property Features

  • Sale Price: 2,500,000
  • Area Size: 6,188 SF
  • Year Built: 1948
  • Listing Date: August 5, 2021
  • Units: 9
  • Current GRM: 21.17
  • Current Cap Rate: 2.39%
  • Price Per Unit: $277,778
  • Market GRM: 11.70
  • Market Cap Rate: 6.26%