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    20702 Seine Avenue

    Lakewood, CA 90715
    • $2,350,000
    • STATUS: ACTIVE
    • ON SITE: 19 days
    • ID#: 302989517
    UPDATED: 11 min ago
    $2,350,000
    • 9
      BEDS
    • 0.38
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    A rare opportunity for an investor to enter the highly sought after Lakewood apartment market. Very few apartment buildings in Lakewood change hands due to the excellent rental market fundamentals/demographics of the area, which include an $89,469 median household income. Offered at a 4.12% cap rate and 15.01 GRM. Approximately 20% market rental proforma upside to a 5.38% cap rate and 12.55 GRM. The property is well located on a tree lined residential block in close proximity to Artesia High School, Willo A rare opportunity for an investor to enter the highly sought after Lakewood apartment market. Very few apartment buildings in Lakewood change hands due to the excellent rental market fundamentals/demographics of the area, which include an $89,469 median household income. Offered at a 4.12% cap rate and 15.01 GRM. Approximately 20% market rental proforma upside to a 5.38% cap rate and 12.55 GRM. The property is well located on a tree lined residential block in close proximity to Artesia High School, Willow Elementary School, and Palm Park & Community Center. Superior unit mix of six large two bedroom townhome style units plus a three bedroom house. Full perimeter fencing/gating. Abundant on-site parking: 16 Parking Spaces (7 Garage + 8 Surface + 1 Guest). 3 Buildings, 8,326 Rentable Square Footage. 16,620 Square Foot Wrap-Around Corner Lot. 5 minute drive to both Los Cerritos Center AND Long Beach Towne Center. Convenient freeway access to the 91 and 605.

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    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
    www.callstein.com/homes/112868734
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    20702 Seine Avenue Lakewood, CA 90715

    • Price: $2,350,000
    • Status: ACTIVE
    • Updated: 11 min ago
    • ID#: 302989517
    9
    Beds
    0
    Baths
    0
    ½ Baths
    0.38
    Acres
    Neighborhood:
    Palms Park
    County:
    Los Angeles
    Area:
    Lakewood (90715)
    Property Description
    A rare opportunity for an investor to enter the highly sought after Lakewood apartment market. Very few apartment buildings in Lakewood change hands due to the excellent rental market fundamentals/demographics of the area, which include an $89,469 median household income. Offered at a 4.12% cap rate and 15.01 GRM. Approximately 20% market rental proforma upside to a 5.38% cap rate and 12.55 GRM. The property is well located on a tree lined residential block in close proximity to Artesia High School, Willo A rare opportunity for an investor to enter the highly sought after Lakewood apartment market. Very few apartment buildings in Lakewood change hands due to the excellent rental market fundamentals/demographics of the area, which include an $89,469 median household income. Offered at a 4.12% cap rate and 15.01 GRM. Approximately 20% market rental proforma upside to a 5.38% cap rate and 12.55 GRM. The property is well located on a tree lined residential block in close proximity to Artesia High School, Willow Elementary School, and Palm Park & Community Center. Superior unit mix of six large two bedroom townhome style units plus a three bedroom house. Full perimeter fencing/gating. Abundant on-site parking: 16 Parking Spaces (7 Garage + 8 Surface + 1 Guest). 3 Buildings, 8,326 Rentable Square Footage. 16,620 Square Foot Wrap-Around Corner Lot. 5 minute drive to both Los Cerritos Center AND Long Beach Towne Center. Convenient freeway access to the 91 and 605.
    Exterior Features

    Pool N/K Roof Composition Site Corner LotSidewalks

    Interior Features

    Stories 1 Story Total Baths Unit1 2 Total Baths Unit2 2 Total Baths Unit3 2 Total Baths Unit4 2

    Property Features

    Actual Cap Rate 4.12 Annual Expense Actual 55237 Buildings 3 Gross Rent Multiplier Actual 15.01 Gross Scheduled Income Actual 156600 Security Gated Community Tenant Pays ElectricityGas/Propane Terms CashConventional Unit Number For Unit1 1 Unit Number For Unit2 2 Unit Number For Unit3 3 Unit Number4 4 Unit1 Rent Actual 2170.0 Unit2 Rent Actual 1950.0 Unit3 Rent Actual 1950.0 Unit4 Rent Actual 1800.0 Zoning Public Rec

    Listing provided courtesy of Keller Williams Beach Cities. Listing information © 2021 San Diego MLS Inc. Source: CRMLS
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
     
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