4026 160Th StLawndale, CA 90260

Property Details for 4026 160Th St

Year built

1947

Property size (Sq ft)

2,399 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a fully renovated 3-unit apartment building in desirable Lawndale, CA. The property boasts a stunning, vacant 4-bedroom, 2-bathroom house, perfect for an owner-user seeking a beautiful home while generating rental income from the two additional units. These units consist of a 2-bedroom, 1-bathroom apartment and a non-conforming studio, also currently vacant. RTI plans are in place to convert the studio into an Accessory Dwelling Unit (ADU), pending buyer verification. The main house features a complete remodel, including a new kitchen with quartz counters and new appliances, updated bathrooms, new flooring, recessed lighting, doors, cabinets, and a washer/dryer. The property showcases new landscaping and astroturf, enhancing its curb appeal. Located west of Prairie Avenue, near Alondra Park, this property is within the Lawndale School District, close to local schools, parks, restaurants, and shopping. Its proximity to SpaceX, Tesla, El Camino College, Northrup Grumman, and the South Bay Galleria adds to its appeal. The property sits on a 5,608 sq ft lot, with a total building square footage of 2,399 sq ft. The asking price is $1,100,000, representing a price per unit of $366,667 and a price per square foot of $458.52. The current NOI is $59,178, with a pro-forma NOI of $68,417, yielding a current cap rate of 5.38% and a pro-forma cap rate of 6.22%. The property is zoned LNR2YY and features two buildings, each one story high, built in 1947. Currently, occupancy is at 33.3%. There is no local rent control, defaulting to AB 1482. Two private garages are included. This is a rare opportunity to acquire a well-located, renovated multifamily property with significant upside potential.

Location Insight

City

Lawndale

County

Los Angeles

State

California

Latitude

33.8851

Longitude

-118.345

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