NOT LISTED FOR SALE

821 W 167th St Gardena, CA 90247

Harbor Gateway Neighborhood
6 Beds
5 Baths
12,434 Sq Ft
0.3 Acres

Last Sold October 31, 2024

Last sale price $3,050,000 $245 Per Sq Ft

34 Days on Market

Highlights

  • 0.3 Acre Lot
  • No HOA
  • Rectangular Lot
  • Property is near public transit
  • Laundry Room

About This Home

As of October 2024

Huge value-add opportunity in a high-demand rental pocket of Gardena PO (subject to LA City rent control). Property consists of two 10-unit apartment buildings on adjacent APNs - 821 & 825 W 167th St in Gardena. Each building has excellent unit mix of 1 Single, 1 Two-Bedroom, 1 Three-Bedroom and 7 One-Bedrooms. All electric property with low utility expenses. Roof has been replaced 10 years ago ago; Soft Story on the 2 tuck under parking has been completed and it can be converted into ADUs (Buyer to verify with the City). Property has additional covered parking in the rear of the property and on-site Laundry for tenants' convenience. Currently collecting $22,272/mo in rents property has huge upside in rents. About eight units have been updated with vinyl flooring and new kitchen appliances; the rest are original. Property is first time on the market in over 30 years!

Last Agent to Sell the Property

Olga Wright

Lyon Stahl Investment Real Estate, Inc. Brokerage Phone: 3108017373 License #01315042 Listed on: 08/02/2024

Lyon Stahl Investment Real Estate, Inc.

Last Buyer's Agent

Olga Wright

Lyon Stahl Investment Real Estate, Inc. Brokerage Phone: 3108017373 License #01315042 Listed on: 08/02/2024

Lyon Stahl Investment Real Estate, Inc.

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 0.3 Acre Lot
  • Two or More Common Walls
  • Rectangular Lot
  • 6121007023

Parking

  • 4 Car Garage
  • 10 Carport Spaces
  • Parking Available

Home Design

  • Apartment
  • Entry on the 1st floor

Interior Spaces

  • 12,434 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 5 Bathrooms

Outdoor Features

  • Exterior Lighting

Location

  • Property is near public transit
  • Urban Location

Listing and Financial Details

  • Tenant pays for electricity
  • Legal Lot and Block 22 / C
  • Tax Tract Number 2912
  • Assessor Parcel Number 6121007024
  • $2,249 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 20 Units

Amenities

  • Laundry Facilities

Building Details

  • 20 Leased Units
  • Rent Control
  • 20 Separate Electric Meters
  • 1 Separate Water Meter
  • Insurance Expense $15,000
  • Professional Management Expense $13,485
  • Water Sewer Expense $11,000
  • New Taxes Expense $38,400
  • Operating Expense $97,325
  • Gross Income $261,576
  • Net Operating Income $164,251

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

0

Parking

4

Listing Details

  • CapRate: 5.10
  • Professional Management Expense: 13485.00
  • Property Attached: Yes
  • Water Sewer Expenses: 11000.00
  • Zoning: LAR3
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 6121007024
  • Year Built: 1963
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 245.30

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 10.00
  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Covered
  • Total Parking Spaces: 14.00

Utilities

  • Utilities: Sewer Available
  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks, Street Lights, Urban

Lot Info

  • Additional Parcels: Yes
  • Additional Parcels Description: 6121007023
  • Land Lease: No
  • Lot Features: Rectangular Lot, Near Public Transit, Walkstreet
  • Lot Size Sq Ft: 13129.00
  • Lot Size Acres: 0.3014

Rental Info

  • Tenant Pays: Electricity

Multi Family

  • Gross Income: 261576.00
  • Gross Multiplier: 11.80
  • Gross Operating Income: 261576.00
  • Gross Scheduled Income: 267192.00
  • Insurance Expense: 15000.00
  • Laundry Income: 200.00
  • Lot Size Area: 13129.0000 Square Feet
  • Net Operating Income: 164251.00
  • Number Of Separate Electric Meters: 20
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 20
  • Number Of Units Total: 20
  • Operating Expense: 97325.00
  • Rent Control: Yes
  • Total Actual Rent: 22266.00
  • Total Expenses: 97325.00

Tax Info

  • New Taxes Expense: 38400.00
  • Tax Block: C
  • Tax Census Tract: 2912.20
  • Tax Lot: 22
  • Tax Tract Number: 2912
  • TaxOtherAnnualAssessmentAmount: 2249.00

Range of Values:

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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 List to Sale Price per Sq Ft
10/31/2024 10/31/24 Sold $3,050,000 -4.7% $245 / Sq Ft
08/02/2024 08/02/24 For Sale $3,200,000 -- $257 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Olga Wright

    Seller's Agent in 2024

    Olga Wright

    Lyon Stahl Investment Real Estate, Inc.

    (310) 425-9838

    9 in this area

    97 Total Sales

    Olga Wright
    Section Image
  • Evelyn Baez Gonzalez

    Buyer Co-Listing Agent in 2024

    Evelyn Baez Gonzalez

    Lyon Stahl Investment Real Estate, Inc.

    (951) 902-3006

    4 in this area

    57 Total Sales

    Evelyn Baez Gonzalez
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB24155910

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

821 W 167th St, Gardena, CA

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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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