17220 Grevillea AVE, Lawndale, CA 90260
17220 Grevillea AVE, Lawndale, CA 90260
17220 Grevillea AVE, Lawndale, CA 90260
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$3,950,000
Est. payment /mo
16 Beds
16 Baths
8,165 SqFt
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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 8,165 sqft

Price per Sqft $483

MLS Listing ID 26859087

Bedrooms 16

HOA Y/N No

Year Built 1959

Lot Size 0.331 Acres

Property Description

Prime South Bay Location: 16-unit apartment situated on a large 14,411-SF lot in a highly desirable Lawndale location, west of Hawthorne Boulevard, 2 blocks from South Bay Galleria and just 3 blocks from Redondo Beach. Exceptional ADU Potential: Large lot and ample parking areas present the opportunity to add up to 8 ADUs, including the potential to convert space above carport spaces into 2 new ADUs without eliminating any parking (Buyer to Verify). Strong Cash Flow & Rental Upside: 5.90% current cap rate and 10.67 GRM, with upside to a 6.64% pro-forma cap and 9.80 GRM, or a 6.52% current cap and 7.26% pro-forma cap with the implementation of RUBs. Recent Capital Improvements: Property features new main electrical, new electrical subpanels in each unit (2026), newer roof (2023), upgraded units, and recent exterior and landscaping improvements. Value-Add Utility Reimbursement Opportunity: Master-metered for gas and electricity, providing investors with the opportunity to implement RUBs to recapture utility expenses and improve operating efficiency. Favorable Property Attributes: On-site laundry facility, 16 parking spaces, and no local rent control (AB 1482 only).

Location

State CA

County Los Angeles

Area 113 - South Lawndale

Zoning LNR3PY

Interior

Fireplace No

Laundry Laundry Room

Exterior

Parking Features Covered

Carport Spaces 16

Total Parking Spaces 16

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 4081027033

Special Listing Condition Standard

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Listed by Jonathan Nikfarjam Shield CRE, Inc. #01856803

NEARBY SCHOOL & BUSINESS

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