NOT LISTED FOR SALE
1 Bed
2 Baths
9,606 Sq Ft
0.36 Acre Lot

Sale Details

Date Sold: May 31, 2024

Last sale price $2,900,000 $302 Per Sq Ft

79 Days on Market

Highlights

  • 0.36 Acre Lot
  • Bike Trail
  • Laundry Facilities

About This Home

As of May 2024

Updated Set Up Sheet. Price Improvement. Seller financing available.
14900 Lemoli Ave., Gardena CA 90249 is a 16-unit apartment complex that benefits from a strong employment base as well as a nearby community college that helps provide constant demand for housing. The property consists of all large One Bedroom Units and is situated on an oversized 15,624 sq ft lot with plenty of parking. All utilities are paid by Landlord (Master Metered). Upside: Buyer may be able to institute RUBS on turnover(s). This asset is situated in zip code area of the City of Gardena, however, under it falls under the jurisdiction of LA County (not LA City).
Value Added: Rents are very low compared to Market! In addition to 4% annual increases, an investor can increase rents substantially on turn-over. Additionally, there is an office unit that has plumbing for a toilet and shower which may be able to be leased out as an office (Buyer to verify). An investor can also find upside with additional income from the laundry room, storage facilities onsite, and the ample parking area.
For investors looking for a value-added opportunity - this might be your deal! Some basic deferred maintenance makes this investment offering perfect for an investor that knows how to beautify a property and maximize rents in the process.
Priced competitively BELOW 10x GRM (9.97) and a potential 6.30% CAP, this asset potentially can possibly cash flow at the list price using reasonable estimated expenses!!

Last Agent to Sell the Property

David Holstein

The Holstein Group License #01210777 Listed on: 12/13/2023

Last Buyer's Agent

David Holstein

The Holstein Group License #01210777 Listed on: 12/13/2023

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1961

Lot Details

  • 15,627 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Home Design

  • Apartment
  • Entry on the 1st floor

Interior Spaces

  • 9,606 Sq Ft Home
  • 2-Story Property
  • Leased Washer and Dryer

Bedrooms and Bathrooms

  • 1 Bedroom
  • 2 Bathrooms

Parking

  • 16 Open Parking Spaces
  • 16 Parking Spaces

Outdoor Features

  • Exterior Lighting

Listing and Financial Details

  • Tax Lot 143
  • Tax Tract Number 993
  • Assessor Parcel Number 4071016001
  • $1 per year additional tax assessments

Community Details

Recreation

  • Bike Trail

Building Details

  • 16 Leased Units
  • 1 Separate Electric Meter
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Electric Expense $7,296
  • Fuel Expense $13,171
  • Insurance Expense $7,500
  • Maintenance Expense $13,600
  • Pest Control $1,500
  • Professional Management Expense $13,400
  • Supplies Expense $2,000
  • Trash Expense $3,985
  • Water Sewer Expense $10,283
  • New Taxes Expense $35,000
  • Operating Expense $109,335
  • Net Operating Income $187,188

Additional Features

  • 16 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1961

Lot Details

0.36 Acres

Listing Details

  • CapRate: 6.30
  • Professional Management Expense: 13400.00
  • Property Attached: Yes
  • Supplies Expense: 2000.00
  • Water Sewer Expenses: 10283.00
  • Zoning: LCR3YY
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 4071016001
  • Year Built: 1961
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Price Per Square Foot: 301.89

Exterior Features

  • Pool Private: No

Garage/Parking

  • Total Parking Spaces: 16.00
  • Uncovered Spaces: 16.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Pest Control Expense: 1500.00
  • Sewer: Public Sewer
  • Trash Expense: 3985.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Biking, Sidewalks, Storm Drains, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 15627.00
  • Lot Size Acres: 0.3587
  • Latitude Manual: 33.89642000

Multi Family

  • Electric Expense: 7296.00
  • Fuel Expense: 13171.00
  • Gross Multiplier: 9.97
  • Gross Scheduled Income: 300504.00
  • Insurance Expense: 7500.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 350.00
  • Lot Size Area: 15627.0000 Square Feet
  • Maintenance Expense: 13600.00
  • Maintenance Percent: 4.53
  • Net Operating Income: 187188.00
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 16
  • Number Of Units Total: 16
  • Operating Expense: 109335.00
  • Operating Expense Percent: 36.38
  • Rent Control: No
  • Total Actual Rent: 24617.00
  • Total Expenses: 109335.00
  • Vacancy Allowance Rate: 1.00

Tax Info

  • New Taxes Expense: 35000.00
  • Tax Census Tract: 6037.06
  • Tax Lot: 143
  • Tax Tract Number: 993
  • TaxOtherAnnualAssessmentAmount: 1.00

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 13, 2023
Closed on
May 24, 2024
Sold by
Bought by
Seller's Agent
David Holstein
The Holstein Group
Buyer's Agent
David Holstein
The Holstein Group
List Price
$3,100,000
Sold Price
$2,900,000
Premium/Discount to List
-$200,000
-6.45%
Views
47

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,450,000
Outstanding Balance
$1,418,702
Interest Rate
7.1%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jul 9, 2016
Closed on
Aug 11, 2016
Sold by
Bought by
Seller's Agent
Alexander Yerekhman
Century 21 Hollywood
Buyer's Agent
David Holstein
The Holstein Group
List Price
$2,500,000
Sold Price
$2,450,000
Premium/Discount to List
-$50,000
-2%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.19%
Original Mortgage
$775,000
Interest Rate
3.41%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
May 17, 2016
Sold by
Bought by

Purchase Details

Listed on
Feb 12, 2013
Closed on
Apr 22, 2013
Sold by
Bought by
Seller's Agent
Doug Rodermund
Morgan Skenderian
Buyer's Agent
Doug Rodermund
Morgan Skenderian
List Price
$1,365,000
Sold Price
$1,355,000
Premium/Discount to List
-$10,000
-0.73%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,016,250
Interest Rate
3.51%
Mortgage Type
Commercial

Purchase Details

Listed on
Feb 12, 2013
Closed on
Apr 5, 2013
Sold by
Bought by
Seller's Agent
Doug Rodermund
Morgan Skenderian
Buyer's Agent
Doug Rodermund
Morgan Skenderian
List Price
$1,365,000
Sold Price
$1,355,000
Premium/Discount to List
-$10,000
-0.73%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,016,250
Interest Rate
3.51%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 26, 2003
Sold by
Bought by

Purchase Details

Closed on
Nov 1, 2000
Sold by
Bought by

Purchase Details

Closed on
Aug 7, 2000
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$401,250
Interest Rate
8.25%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 15, 1998
Sold by
Bought by

Purchase Details

Closed on
Nov 28, 1997
Sold by
Bought by

Purchase Details

Closed on
Mar 31, 1997
Sold by
Bought by

Purchase Details

Closed on
Mar 28, 1997
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Agents Specializing in Gardena, CA

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$2,900,000 Chicago Title Company
$2,450,000 Provident Title Company
-- None Available
-- None Available
-- None Available
-- None Available
-- None Available
-- None Available
$1,355,000 Provident Title Company
-- --
-- --
$535,000 Fidelity National Title
-- Fidelity Title
-- Provident Title Company
-- --
$58,964 Orange Coast Title
$58,964 Orange Coast Title Co
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $1,450,000
Previous Owner $200,000
Previous Owner $775,000
Previous Owner $1,016,250
Previous Owner --
Previous Owner $882,000
Previous Owner $401,250
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
05/31/2024 05/31/24 Sold $2,900,000 -3.2% $302 / Sq Ft
04/15/2024 04/15/24 Price Changed $2,995,000 -3.4% $312 / Sq Ft
04/08/2024 04/08/24 For Sale $3,100,000 0.0% $323 / Sq Ft
03/01/2024 03/01/24 Pending -- -- --
02/28/2024 02/28/24 Price Changed $3,100,000 -8.8% $323 / Sq Ft
12/13/2023 12/13/23 For Sale $3,400,000 +38.8% $354 / Sq Ft
08/18/2016 08/18/16 Sold $2,450,000 -2.0% $255 / Sq Ft View Prior Sale
08/15/2016 08/15/16 Pending -- -- --
07/09/2016 07/09/16 For Sale $2,500,000 +84.5% $260 / Sq Ft
04/19/2013 04/19/13 Sold $1,355,000 -0.7% $141 / Sq Ft View Prior Sale
02/28/2013 02/28/13 Pending -- -- --
02/12/2013 02/12/13 For Sale $1,365,000 -- $142 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $43,126 $2,958,000 $1,927,800 $1,030,200
2024 $39,987 $2,787,678 $1,080,935 $1,706,743
2023 $36,961 $2,733,019 $1,059,741 $1,673,278
2022 $36,958 $2,679,431 $1,038,962 $1,640,469
2021 $36,076 $2,626,894 $1,018,591 $1,608,303
2019 $34,799 $2,549,520 $988,380 $1,561,140
2018 $34,147 $2,499,540 $969,000 $1,530,540
2016 $20,320 $1,409,517 $520,117 $889,400
2015 $19,822 $1,388,346 $512,305 $876,041
2014 $19,753 $1,361,151 $502,270 $858,881
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB23225776

California Regional Multiple Listing Service (CRMLS)
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