12717 Cranbrook AveHawthorne, CA 90250

Property Details for 12717 Cranbrook Ave

Year built

1964

Property size (Sq ft)

5,008 SF

Property type

Apartment buildings

Description

This exceptional 4-unit apartment building presents a compelling investment opportunity in Hawthorne, California. Situated on a 6,119 square foot lot, the property boasts a total of 5,008 square feet of living space. The unit mix comprises three spacious 3-bedroom, 2-bathroom units and one 2-bedroom, 1-bathroom unit. Ample parking is available with a carport accommodating eight vehicles, plus three additional side parking spaces. Residents enjoy the convenience of shared laundry facilities on-site. The property's current Net Operating Income (NOI) is $61,098, yielding a 3.92% capitalization rate. However, a pro-forma analysis projects a significantly higher NOI of $105,400, resulting in a compelling 6.76% pro-forma capitalization rate. This substantial increase reflects a 45% rental upside potential. Built in 1964, this well-located property is situated near Hawthorne Memorial Park, SpaceX, and the Chester Washington Golf Course, benefiting from its proximity to these key attractions and the potential for future appreciation in a growing market. The asking price is $1,559,999, translating to $389,999.75 per unit. This property offers a rare blend of immediate income generation and significant value-add potential, making it an ideal acquisition for both seasoned investors and owner-occupants.

Location Insight

City

Hawthorne

County

Los Angeles

State

California

Latitude

33.917

Longitude

-118.337

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