311 W Palm Ave, El Segundo, CA 90245

311 W Palm Ave, El Segundo, CA 90245

El Segundo, CA

Property Description

311 West Palm Avenue in El Segundo is an 8-unit apartment building located in the heart of El Segundo. The 7,332 sq. ft. building situated on a 8,375 sq. ft. lot and boasts an attractive unit mix of one (1) 1 bed/1 bath and (7) 2 bed/1.5 bath units, all townhome style. There are 10 dedicated carports for the building on premises and a laundry facility onsite for the tenants’ convenience. While the property is a turnkey asset with new slightly sloped roofs, sewer lines, and seven renovated units, there is still over 20% rent upside. El Segundo is a close knit, family oriented community and home to award winning public schools. While it is considered a beach community, it does not experience the influx of visitors that neighboring beach communities contend with. With the Silicon Beach spillover, the need for housing is at an all-time high, making multifamily assets in the area highly desirable. 311 W Palm Ave provides an investor the opportunity to own an investment property with strong income on a valuable piece of land in an “A” location.

Property Features

  • Sale Price: $4,387,500
  • Area Size: 7,332 Sq. Ft.
  • Land Area: 8,376 Sq. Ft.
  • Year Built: 1970
  • Listing Date: 2/27/2023
  • Closing Date: 5/31/2023
  • Units: 8
  • Current GRM: 17.33
  • Current Cap Rate: 3.71%
  • Price Per Unit: $574,375
  • Market GRM: 14.15
  • Market Cap Rate: 4.92%

Lyon Stahl Investment Real Estate

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