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11643 Acacia Ave, Hawthorne, CA 90250

$1,085,000

Description

11643 Acacia Ave is a 4-unit apartment building located in York neighborhood of north Hawthorne. This property presents the opportunity to own a building with over 50% upside in rental income. The 3,290 square foot building sits on a 6,999 square foot lot, and all four units are comprised of two bedrooms and one bathroom with washer/dryer hookups. Each unit has one dedicated private garage with storage. With a Walk Score of 80 and conveniently located a block east of Hawthorne Blvd, tenants can stroll to local retailers and restaurants including Ralphs Groceries, CVS, El Torito Mexican Restaurant, among others. Less than one mile from the 405 and 105 Freeways, tenants also enjoy close proximity to all that Los Angeles Metro has to offer. This is an opportunity for an investor to own a property in a high demand rental market with tremendous growth potential.

The asset is also located less than 3 miles south of the new City of Champions Revitalization Initiative, this property is set to benefit from the stimulation and energy the 890,000 square feet of retail space, 25 acres of park and open space, revamped casino, performing arts venue, and numerous fine dining restaurants it will bring.

Hawthorne median home sales prices have increased over 27% since May 2016, making it more difficult for homeownership and ensuring a continued strong rental market. With overall rent
increases of 24% over the same time period, multifamily appreciation has seen a similar trend in value.

 

Property Downloads

Address

  • City: Hawthorne
  • State/county: CA
  • Country: United States

Detail

Updated on November 20, 2019 at 4:17 pm

  • Price: $1,085,000
  • Sell Date: 11/15/19
  • Property Size: 3,290 Sq Ft
  • Land Area: 6,999 Sq Ft
  • Garage: 4
  • Garage Size: 5
  • Year Built: 1959
  • Property Type: Multifamily
  • Property Status: Sold
  • Numbers of Units: 4
  • GRM: 19.16
  • CAP RATE: 2.90%
  • Price per Unit: $275,000
  • Market GRM: 11.49
  • Market CAP RATE: 6.03%

Contact info

Daniel Shieh
Daniel Shieh
(323) 825-5484(310) 990-2131
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