11626 Menlo Avenue, Hawthorne, CA 90250

$1,385,000
4,749
SqFt
List Price
$1,385,000
Status
ACTIVE
MLS#
SB21002116
Year Built
1960
Living Sq. Ft
4,749
Lot Size
6,576
Acres
0.151
Lot Location
Level
Days on Market
20
Property Type
Multifamily
Stories
Two Levels

Property Description

LOWEST $/SQ FT IN HAWTHORNE! 11626 Menlo Ave is a HUGE 4 unit property. There are no vacant units and rents are easily 30%+ below market. There is some deferred maintenance mostly cosmetic and due to long term tenancy. It’s a perfect value add opportunity for a buyer willing to complete work which would require pulling permits and take at least 30 days to complete which would then allow the units to be vacated, renovated and leased up at full market rent. Excellent unit mix consisting of 2-3BR/2BA, 1-2BR/1BA and 1-1BR/1BA. All units are large and average well over 1,000 square feet each. One of the 3BR is located in the front of the property and has a fireplace. The other 3BR is located in the rear of the property, has a large sundeck and is occupied by a Section 8 tenant. The 2BR is also occupied by a Section 8 tenant. All units are separately metered for utilities which keeps operating expenses low. The roof was replaced approx 16 years ago and appears to be in good condition. The plumbing is galvanized. There is ample onsite parking and all units have washer/dryer hookups which is a great amenity at this time. It’s strategically located close to freeways, major employers, SOFI Stadium and LAX. Priced at only $291/sq ft it’s the perfect opportunity for an astute investor to create significant value through sweat equity.

Additional Information

Tract Number
602104
Lot Description
Suburban
Pool Description
None
Garage Spaces Total
4
Sewer
Public Sewer
Water
Public
Attached Structure
Attached
Number Of Units Total
4
Gross Scheduled Income
$66,960
Operating Expense
25975
Unit One Total Units
1
Unit One Beds
3
Unit One Baths
2
Unit One Garage Spaces
1.00
Unit One Actual Rent
1795.00
Unit One Total Rent
1795.00
Unit One Pro Forma
2500
Unit One Furnished
Unfurnished
Unit Two Total Units
1
Unit Two Beds
3
Unit Two Baths
2
Unit Two Garage Spaces
1.00
Unit Two Actual Rent
1500.00
Unit Two Total Rent
1500.00
Unit Two Pro Forma
2500
Unit Two Furnished
Unfurnished
Unit Three Total Units
1
Unit Three Beds
2
Unit Three Baths
1
Unit Three Garage Spaces
1.00
Unit Three Actual Rent
1285.00
Unit Three Total Rent
1285.00
Unit Three Pro Forma
1900
Unit Three Furnished
Unfurnished
Unit Four Total Units
1
Unit Four Beds
1
Unit Four Baths
1
Unit Four Garage Spaces
1.00
Unit Four Actual Rent
1000.00
Unit Four Total Rent
1000.00
Unit Four Pro Forma
1600
Unit Four Furnished
Unfurnished

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Brian Estes from Re/Max Commercial & Investment

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.