20702 Seine Avenue, Lakewood, CA 90715
- $2,350,000
- Sold Price
- $2,350,000
- List Price
- $2,350,000
- Closing Date
- May 06, 2021
- Status
- CLOSED
- MLS#
- SB20262799
- Year Built
- 1987
- Lot Size
- 16,620
- Acres
- 0.38
- Lot Location
- Corner Lot, Garden, Landscaped
- Days on Market
- 61
- Property Type
- Multifamily
- Stories
- One Level, Two Levels
- Neighborhood
- East Lakewood (Elk)
Property Description
A rare opportunity for an investor to enter the highly sought after Lakewood apartment market. Very few apartment buildings in Lakewood change hands due to the excellent rental market fundamentals/demographics of the area, which include an $89,469 median household income. Offered at a 4.12% cap rate and 15.01 GRM. Approximately 20% market rental proforma upside to a 5.38% cap rate and 12.55 GRM. The property is well located on a tree lined residential block in close proximity to Artesia High School, Willow Elementary School, and Palm Park & Community Center. Superior unit mix of six large two bedroom townhome style units plus a three bedroom house. Private patios/balconies. Individual water heaters. Full perimeter fencing/gating. Abundant on-site parking: 16 Parking Spaces (7 Garage + 8 Surface + 1 Guest). 3 Buildings, 8,326 Rentable Square Footage. 16,620 Square Foot Wrap-Around Corner Lot. 5 minute drive to both Los Cerritos Center AND Long Beach Towne Center. Convenient freeway access to the 91 and 605.
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Additional Information
- Pool Description
- None
- Roof
- Composition, Shingle
- Garage Spaces Total
- 7
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 7
- Gross Scheduled Income
- $156,600
- Operating Expense
- 55237
Listing courtesy of Listing Agent: John Mociak (John@theensburygroup.com) from Listing Office: Keller Williams Beach Cities.
Listing sold by John Mociak from Keller Williams Beach Cities
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