For Sale
$1,600,000

14026 Yukon AveHawthorne, CA 90250

Six-unit apartment building, high upside.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional six-unit apartment building, situated on a spacious 19,507 square foot lot in Hawthorne, California, presents a compelling investment opportunity. The property boasts a total of 5,956 square feet of net rentable space, comprised of one three-bedroom/one-bathroom unit and five two-bedroom/one-bathroom units. Each unit includes washer/dryer hookups and a private garage. Currently operating at 100% occupancy, the property generates a NOI of $63,749, with a current cap rate of 3.98%. However, significant value-add potential exists, with rents approximately 76% below market value. A pro-forma NOI of $143,309 projects a compelling 8.96% pro-forma cap rate and an 8.43 pro-forma GRM. The expansive lot offers substantial future development potential, allowing for the addition of two accessory dwelling units (ADUs) or redevelopment into a thirteen-unit apartment complex. The property benefits from its prime location, approximately one mile from SpaceX and the Tesla Design Center, and three miles from SoFi Stadium and the upcoming Intuit Dome. Nearby employment centers include Northrop Grumman, Los Angeles Times, Hollywood Park Tomorrow, Raytheon, Boeing, and LAX airport. Tenants are responsible for all gas and electricity expenses, while the landlord covers water and trash. The property is subject to AB 1482 rent control regulations, but no local rent control ordinances apply. This property offers a rare combination of immediate income and substantial long-term growth potential in a highly desirable location. The asking price is $1,600,000, representing a price per unit of $266,667 and a price per square foot of $268.64. The property's APN is 4052-029-048 and is zoned HAR4*.

Highlights

  • Six single-story units on a large 19,507-square-foot lot.
  • Potential to add two ADUs or redevelop into a 13-unit apartment building.
  • Significant value-add opportunity with approximately 76% rental upside.
  • 8.96% pro-forma cap rate and 8.43 pro-forma GRM.
  • Prime location, approximately one mile from SpaceX & Tesla and three miles from SoFi Stadium and the Intuit Dome.
  • Unit mix: one 3-bedroom/1-bathroom and five 2-bedroom/1-bathroom units.

Property Details for 14026 Yukon Ave

Property type
Apartment buildings
Square Feet
5,956 SF
Year Built
1963
Buildings
4
Stories
1
Units
6

Location Insight

City
Hawthorne
County
Los Angeles
State
California
Latitude
33.903679
Longitude
-118.3349855
14026 Yukon Ave, Hawthorne, California

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14026 Yukon Ave
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