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Gardena, CA 90247 1048 Marine Avenue

$3,995,000

Sold: May 02, 2024
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Presented By: Parker Boehle with NorthMarq Realty Services, Inc; 310-988-8361
  • MLS# OC24026530
  • 02/06/2024
  • Request Tour
  • Request Info
  • FootageSQFT • 10,584

Home Details

Built in 1986, the Marine Ave. apartments consist of two adjacent (6) unit apartment buildings on the same APN. The property is in the Gardena market, just east of Manhattan Beach and Lawndale, and also surrounded by Hawthorne and Torrance. Situated on a 19,500 square foot lot, the property offers (12) Two-Bedroom/Two-Bathroom units, each measuring just under 900 Sq.Ft. There are a total of (26) total parking spaces, as each unit is assigned Two Carport slots as well as storage space. The on-site laundry room has been renovated with new washers and dryers as well. More than half of the units have been meticulously remodeled with high end finishes, featuring new quartz countertops, new appliances, and new kitchen and bathroom vanities. In addition to the unit remodels, units feature balconies offering quaint patio space. There was a new roof put on just over a year ago, plumbing & electrical have been upgraded, new windows have been installed, 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 any exchange buyer or investor looking to own a very low maintenance asset.
Presented By: Parker Boehle with NorthMarq Realty Services, Inc; 310-988-8361

General for 1048 Marine Avenue

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Buyer FinancingConventional
Cap Rate5.16
Carport Spaces26.0
Carport Y/NYes
CityGardena
Close Price3950000.0
Community FeaturesCurbs, Golf, Gutters, StreetLights, Sidewalks
CountyLos Angeles
Days on Market22
DirectionsOff of Marine and Berendo
Electric Expense0.0
Entry LocationGate
Fuel Expense0.0
Garage Spaces0.0
Garage Y/NNo
Gross Income320700.0
HOA / Comm AssnNo
HeatingFloorFurnace
Home Warranty Y/NNo
Insurance Expense0.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsOne
Listing TermsCash, Conventional, Item1031Exchange
Lot Size Square Feet19471.0
MLS Area119 - Central Gardena
MobileHomeRemainsYNNo
Net Operating Income206269.0
New ConstructionNo
Operating Expense107210.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusClosed
StatusClosed
Stories1
Street NameMarine
Tax Lot1
Total Units12
Trash Expense0.0
View Y/NNo
Water Sewer Expense0.0
Waterfront Y/NNo
Year Built1986
Year Built SourceAssessor
ZoningGAR3

Interior for 1048 Marine Avenue

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsItem1CommonWall
Electric On Property Y/NNo
Entry Level1
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesLaundryRoom
Street SuffixAvenue
Total Stories2

Exterior for 1048 Marine Avenue

Building Area Total10584.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem01UnitAcre
Lot Size Acres0.447
Lot Size Area19471.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings2
Number of Separate Electric Meters12
Number of Separate Gas Meters12
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking26.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $3,995,000
MLS#OC24026530
List Date 02/06/2024
Property Type Multi-Family
Phone 714.964.3311
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*According to the National Association of Realtors