16310 S Ainsworth Street, Gardena, CA 90247
- $2,155,000
- Sold Price
- $2,155,000
- List Price
- $1,999,000
- Closing Date
- Mar 05, 2024
- Status
- CLOSED
- MLS#
- SB23218307
- Year Built
- 1958
- Lot Size
- 8,913
- Acres
- 0.20
- Lot Location
- 11-15 Units/Acre, Front Yard, Lawn
- Days on Market
- 4
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- One Level
Property Description
Welcome to the Joyce Apartments, a professionally managed 14-unit apartment complex located just north of Downtown Gardena. 16310 S Ainsworth St presents an excellent investment opportunity offering easy commute and convenient access to the 110 and 91 FWYs. This prime location is less than 10 miles from major hubs, including LAX, SpaceX, Tesla Design Studio, and the impressive SoFi Stadium. Constructed in 1958, the 8,302 SF building sits on an 8,911 SF lot with zoning designated as LARD1.5. The unit mix includes: (8) 2-bed/1-bath units, (2) 1-bed/1-bath units, and (4) 0-bed/1-bath units, offering a diverse range of living options along with 13 assigned parking spaces with convenient alley access. Additional amenities include on-site coin-operated laundry facilities, providing convenience for residents. The building is professionally managed, ensuring a well-maintained and efficiently run property, and boasts a fully occupied status with tenants’ current on rents. Financials include a 5.18% cap rate, a 10.99 gross rent multiplier (GRM), and a compelling pro forma cap rate of 8.07% and pro forma GRM of 7.06. The property is located in Gardena PO and is subject to LA RSO regulations.
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Additional Information
- Pool Description
- None
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Detached
- Number Of Units Total
- 14
- Gross Scheduled Income
- $181,838
- Operating Expense
- 78500
Listing courtesy of Listing Agent: Roger Hart (rhart@forecastrealty.com) from Listing Office: Forecast Realty Inc..
Listing sold by Olga Wright from Lyon Stahl Investment Real Estate, Inc.
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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.