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Additional details
$ 1,799,000
Est. payment /mo
Active
15003 Larch Lawndale, CA 90260
0.49 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26134259
Lot Size 0.485 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
Prime Half-Acre Development Opportunity in Lawndale 0.49-Acre Lot | 6.89% Cap Rate | 10.04 GRM Located on approximately 0.49 acres in the City of Lawndale, this property offers an immediate income-producing opportunity with significant potential for future redevelopment. Current Use & Income: The property is currently operated as a rooming house/SRO (Single Room Occupancy), consisting of 16 rooms plus a separate one-bedroom house. The one-bedroom house has its own address at 15001, while the remaining units use the address 15003. The property currently generates approximately $14,965 per month in gross income, or $179,580 annually, providing immediate cash flow while allowing an investor to maintain the existing operation or explore future development options. Current investment metrics: Cap Rate: 6.79% GRM: 10.04 Gross Monthly Income: $14,965 Gross Annual Income: $179,580 Proposed Future Use: Multifamily Development: A professional Due Diligence/Best Use Report was commissioned to evaluate the property's redevelopment potential. According to the report prepared by Elevated Entitlements, the property presents a potential multifamily development opportunity. Based on the property's medium-density residential zoning and the potential application of AB 1287 density bonus provisions, the Due Diligence Report indicates the site may accommodate up to 19 residential units, including units designated as affordable housing. The report projects potential annual income of approximately $531,000 or more under the proposed multifamily development scenario. This creates the opportunity t
Location
State CA
County Los Angeles
Zoning Assessor
Direction East of Hawthorne South of Rosecrans
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 4077022016
Listed by Carol Anne Mills, DRE#01336814 Keller Williams Realty
NEARBY SCHOOL & BUSINESS
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