NOT LISTED FOR SALE

1048 Marine Ave Gardena, CA 90247

20 Beds
20 Baths
10,584 Sq Ft
0.45 Acres

Last Sold May 02, 2024

Last sale price $3,950,000 $373 Per Sq Ft

22 Days on Market

Highlights

  • Golf Course Community
  • Laundry Room
  • Floor Furnace
  • 0.45 Acre Lot

About This Home

As of May 2024

Built in 1986, the Marine Ave. apartments consist of two adjacent (6) unit apartment buildings onthe same APN. The property is in the Gardena market, just east of Manhattan Beach andLawndale, and also surrounded by Hawthorne and Torrance. Situated on a 19,500 square footlot, the property offers (12) Two-Bedroom/Two-Bathroom units, each measuring just under 900Sq.Ft. There are a total of (26) total parking spaces, as each unit is assigned Two Carport slots aswell as storage space. The on-site laundry room has been renovated with new washers anddryers as well.More than half of the units have been meticulously remodeled with high end finishes, featuringnew quartz countertops, new appliances, and new kitchen and bathroom vanities. In addition tothe unit remodels, units feature balconies offering quaint patio space. There was a new roof puton just over a year ago, plumbing & electrical have been upgraded, new windows have beeninstalled, and the parking area has been repaved.There is still plenty of upside in rental income to be had. This is a perfect opportunity for anyexchange buyer or investor looking to own a very low maintenance asset.

Last Agent to Sell the Property

Parker Boehle

NorthMarq Realty Services, Inc Brokerage Phone: 310-988-8361 License #02054215 Listed on: 02/06/2024

Co-Listed By

Brent Sprenkle

NorthMarq Realty Services, Inc Brokerage Phone: 310-988-8361 License #01290116

Last Buyer's Agent

Richard Park

Century 21 Union Realty License #02118600

Century 21 Union Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1986

Lot Details

  • 0.45 Acre Lot
  • 1 Common Wall
  • Density is up to 1 Unit/Acre

Home Design

  • Apartment

Interior Spaces

  • 10,584 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 20 Bedrooms
  • 20 Bathrooms

Parking

  • 26 Parking Spaces
  • 26 Carport Spaces

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Utilities

  • Floor Furnace

Listing and Financial Details

  • Legal Lot and Block 1 / C
  • Tax Tract Number 4188
  • Assessor Parcel Number 6114029009
  • $3,191 per year additional tax assessments

Community Details

Overview

  • 2 Buildings
  • 12 Units

Recreation

  • Golf Course Community

Building Details

  • 12 Separate Electric Meters
  • 12 Separate Gas Meters
  • 1 Separate Water Meter
  • Operating Expense $107,210
  • Gross Income $320,700
  • Net Operating Income $206,269

Property Details

Home Type

Multi-Family

Year Built

Built in 1986

Lot Details

0

Listing Details

  • CapRate: 5.16
  • Price Per Unit: 332917
  • Property Attached: Yes
  • Zoning: GAR3
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 6114029009
  • Year Built: 1986
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: Gate
  • Common Walls: 1 Common Wall
  • Entry Level: 1
  • Levels: One
  • Price Per Square Foot: 373.20

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 26.00
  • Total Parking Spaces: 26.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Floor Furnace
  • Laundry Features: Individual Room
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Golf, Gutters, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 19471.00
  • Lot Size Acres: 0.4470

Multi Family

  • Gross Income: 320700.00
  • Gross Multiplier: 12.36
  • Gross Scheduled Income: 320700.00
  • Lot Size Area: 19471.0000 Square Feet
  • Net Operating Income: 206269.00
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 12
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 12
  • Operating Expense: 107210.00
  • Rent Control: No
  • Total Expenses: 107210.00

Tax Info

  • Tax Block: C
  • Tax Census Tract: 6030.04
  • Tax Lot: 1
  • Tax Tract Number: 4188
  • TaxOtherAnnualAssessmentAmount: 3191.00

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/02/2024 05/02/24 Sold $3,950,000 -1.1% $373 / Sq Ft
02/28/2024 02/28/24 Pending -- -- --
02/06/2024 02/06/24 For Sale $3,995,000 -- $377 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Parker Boehle

    Seller's Agent in 2024

    Parker Boehle

    NorthMarq Realty Services, Inc

    (310) 988-8361

    1 in this area

    5 Total Sales

    Parker Boehle
    Section Image
  • Brent Sprenkle

    Seller Co-Listing Agent in 2024

    Brent Sprenkle

    NorthMarq Realty Services, Inc

    (310) 621-8221

    1 in this area

    5 Total Sales

    Brent Sprenkle
    Section Image

  • R

    Buyer's Agent in 2024

    Richard Park

    Century 21 Union Realty

    (310) 962-1646

    1 in this area

    4 Total Sales

    Richard Park
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC24026530

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Gardena 90247

1048 Marine Ave, Gardena, CA

This home is located at 1048 Marine Ave, Gardena, CA 90247 since 06 February 2024. This property was built in 1986. 1048 Marine Ave is a home located in Los Angeles County with nearby schools including Amestoy Elementary School, Robert E. Peary Middle School, and Gardena Senior High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

Nearby Homes