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