NOT LISTED FOR SALE

500 W Alondra Blvd Gardena, CA 90248

Harbor Gateway Neighborhood
0.47 Acre
-- Price per Acre
20,364 Sq Ft Lot

Last Sold December 23, 2020

Last sale price $1,700,000

74 Days on Market

Highlights

  • 0.47 Acre Lot
  • Private Yard
  • Neighborhood Views
  • Corner Lot
  • No HOA

About This Lot

As of December 2020

This project is Fully RTI, Shovel Ready!!!
Best priced RTI development deal in L.A.
There are NO linkage fees (grandfathered), so permits are 200K instead of 500K. Most L.A. projects are not grandfathered from linkage fees.

Every return on investment metric shot way higher now that the price has gone from 3M to 1.75M!!!
Fast Close Wanted!

36-Unit Apartment Entitlement
• 500 W Alondra Blvd Los Angeles 90248 (New Address)
• 16101 S Figueroa St Los Angeles 90248 (Former Address)
• Southwest Corner of Alondra and Figueroa (L.A. City Proper, not in Gardena)
• APN: 6120-023-033 (Proposed Building Site)
• APN: 6120-023-034 (Park and Picnic Site; small strip of land)
• Lot Size: 20,366 SF (19,417 SF + 949 SF)
• Units: 36, All 3 Bed, 2 Bath
• Market Units: 33
• Restricted Units: 3 (VLI Rent as Part of CA Bonus Density Program)
• Residential Stories: 4 (Staggered 2 to 4 stories)
• Parking Levels: 2
• Parking Stalls: 54
• Building Size: 36,000 SF roughly
• Roof Deck: 6300 SF roughly
• Expenditures Already paid over 800K including Sewer Fee
• Market Rent $2735 (33x) – Matches L.A. Section 8 Amount (2020)
• Restricted Rent $914 (3x) – Allowable Rent by HUD (2019)
• Gross Annual Rent: $1,115,964 (100% Occupancy)
• Annual Expenses Total: $200,195
• Net Operating Income $915,769 (98.5% Occupancy)
• Cost of Construction: $8M Estimated
• Equity: 9.55M
• Equity Percentage: 50% Roughly
• Market Value of New Building: $19.3M Estimated (4.75% Cap Rate)

Last Agent to Sell the Property

Bret Lewis

Bret Lewis, Broker License #01872524 Listed on: 09/12/2020

Last Buyer's Agent

Bruce Lavi

Keller Williams Realty-Studio City License #01482721

Keller Williams Realty-Studio City

Property Details

Property Type

  • Land

Lot Details

  • 0.47 Acre Lot
  • Corner Lot
  • Private Yard
  • 6120-023-033, 6120-023-034
  • Property is zoned LAC2

Additional Features

  • Neighborhood Views
  • Urban Location
  • Cistern

Listing and Financial Details

  • Assessor Parcel Number 6120023033

Community Details

Overview

  • No Home Owners Association

Recreation

  • Rain Gutters

Property Details

Property Type

Land

Lot Details

0

Listing Details

  • Current Use Comments: 36 Unit Apartment Project RTI
  • Possible Use Comments: 36 Unit Apartment Project RTI
  • Subdivision Name Other: Harbor Gateway Neighborhood
  • View: Yes
  • Zoning: LAC2
  • Property Type: Land
  • Parcel Number: 6120023033
  • Special Features: None
  • Property Sub Type: LotsLands

Interior Features

  • Price Per Square Foot: 83.47

Exterior Features

  • View: Neighborhood

Utilities

  • Sewer: Public Sewer
  • Water Source: Cistern, Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Gutters, Sidewalks, Urban

Lot Info

  • Additional Parcels: No
  • Additional Parcels Description: 6120-023-033, 6120-023-034
  • Land Lease: No
  • Lot Features: Corner Lot, Lot 20000-39999 Sqft, Yard
  • Lot Size Sq Ft: 20366.00
  • Lot Size Acres: 0.4675

Multi Family

  • Lot Size Area: 20366.0000 Square Feet

Tax Info

  • Tax Census Tract: 2912.10

Range of Values:

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Average Value
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List Price
Sold Price
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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
12/23/2020 12/23/20 Sold $1,700,000 +0.1% --
11/25/2020 11/25/20 Pending -- -- --
10/20/2020 10/20/20 Price Changed $1,699,000 -2.9% --
10/14/2020 10/14/20 Price Changed $1,749,000 -0.1% --
09/22/2020 09/22/20 Price Changed $1,750,000 -12.5% --
09/12/2020 09/12/20 For Sale $1,999,999 -- --
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • B

    Seller's Agent in 2020

    Bret Lewis

    Bret Lewis, Broker

    (562) 726-2515

    1 in this area

    61 Total Sales

    Bret Lewis
    Section Image
  • Bruce Lavi

    Buyer's Agent in 2020

    Bruce Lavi

    Keller Williams Realty-Studio City

    (818) 235-7290

    1 in this area

    16 Total Sales

    Bruce Lavi
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW20190216

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Gardena 90248 Harbor Gateway

500 W Alondra Blvd, Gardena, CA

This home is located at 500 W Alondra Blvd, Gardena, CA 90248 since 12 September 2020. 500 W Alondra Blvd is a home located in Los Angeles County with nearby schools including Gardena Elementary School, Robert E. Peary Middle School, and Gardena Senior High School.

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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

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