Skip To Content
    Return to Previous Page

    20702 Seine Avenue

    Lakewood, CA 90715
    • $2,350,000
    • STATUS: Active
    • ON SITE: 25 days
    • MLS #: SB20262799
    UPDATED: 0 min ago
    $2,350,000
    • 0
      BEDS
    • 0.38
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,326
      SQFT
    • $282
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1987
    County:

    School Ratings & Info

    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. 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.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-01-21T11:27:23.59. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Desert Area Homes For Sale | Premier Properties. Licensed in the State of California, USA.

    www.desertareahomesforsale.com/homes/112868363
    Print Image

    20702 Seine Avenue Lakewood, CA 90715

    • Price: $2,350,000
    • Status: Active
    • Updated: 0 min ago
    • MLS #: SB20262799
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.38
    Acres
    8,326
    SQFT
    $282
    $/SQFT
    1987
    Built
    Neighborhood:
    East Lakewood (Elk)
    County:
    Los Angeles
    Area:
    26 - Lakewood East
    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. 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.
    Exterior Features

    Fence YN Yes Fencing Privacy Garage Spaces 7.00 Lot Features Corner LotGardenLandscapedLot 10000-19999 Sqft Lot Size Source Assessor Lot Size Units Square Feet Parking Features PavedGarageGatedGuestOn SiteParking SpacePrivateUncovered Parking Total 16.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Roof CompositionShingle Uncovered Spaces 9.00

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area 1150 Average2 Bed Area Units Square Feet Average3 Bed Area 1450 Average3 Bed Area Units Square Feet Common Walls 1 Common Wall Laundry Features Common Area Levels OneTwo

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 4.12 Community Features SidewalksStreet LightsSuburban Country Us Electric Expense 630.00 Elevation Units Feet Fuel Expense 1470.00 Gardener Expense 1800.00 Gross Income 156600.00 Gross Multiplier 15.01 Gross Operating Income 151956.00 Gross Scheduled Income 156600.00 Insurance Expense 2997.00 Land Lease YN No Laundry Equipment Own Lease Own Laundry Income 1800.00 Laundry YN Yes Maintenance Expense 3500.00 Maintenance Percent 35.27 Net Operating Income 96719.00 New Construction YN No New Taxes Expense 27730.00 Number Of Separate Electric Meters 7 Number Of Separate Gas Meters 7 Number Of Separate Water Meters 1 Number Of Units Leased 7 Operating Expense 55237.00 Operating Expense Percent 35.27 Other Expense 1750.00 Other Expense Description Reserves Professional Management Expense 7740.00 Rent Control YN Yes Security Features 24 Hour SecurityClosed Circuit Camera(S)Gated CommunitySecurity Lights Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other East Lakewood (Elk) Tenant Pays ElectricityGas Total Actual Rent 12900.00 Total Expenses 55237.00 Trash Expense 3000.00 Vacancy Allowance 4644 Vacancy Allowance Rate 3.00 Water Sewer Expense 4620.00 Water Source Public Year Built Source Public Records Zoning Lkmfr*

    Listing provided courtesy of John Mociak of Keller Williams Beach Cities


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-01-21T11:27:23.59. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Desert Area Homes For Sale | Premier Properties. Licensed in the State of California, USA.

     
    https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365058367-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365058367-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365058367-1.jpg
    Logo
    Desert Area Homes For Sale | Premier Properties
    78115 Calle Estado #104
    La Quinta CA, 92253