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821 W 167th ST Gardena, CA 90247
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Key Details
Sold Price $3,050,000
Property Type Residential Income
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB24155910
Year Built 1963
Lot Size 0.301 Acres
Property Sub-Type Apartment
Property Description
Huge value-add opportunity in a high-demand rental pocket of Gardena PO (subject to LA City rent control). Property consists of two 10-unit apartment buildings on adjacent APNs - 821 & 825 W 167th St in Gardena. Each building has excellent unit mix of 1 Single, 1 Two-Bedroom, 1 Three-Bedroom and 7 One-Bedrooms. All electric property with low utility expenses. Roof has been replaced 10 years ago ago; Soft Story on the 2 tuck under parking has been completed and it can be converted into ADUs (Buyer to verify with the City). Property has additional covered parking in the rear of the property and on-site Laundry for tenants' convenience. Currently collecting $22,272/mo in rents property has huge upside in rents. About eight units have been updated with vinyl flooring and new kitchen appliances; the rest are original. Property is first time on the market in over 30 years!
Location
State CA
County Los Angeles
Area 116 - North Gateway
Zoning LAR3
Interior
Laundry Common Area
Exterior
Parking Features Covered
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Street Lights, Sidewalks, Urban
Utilities Available Sewer Available
Building
Lot Description Near Public Transit, Rectangular Lot, Walkstreet
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard
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Bought with Olga Wright Lyon Stahl Investment Real Estate, Inc.