|
The Marine Bay Apartments - an 81 Unit South Bay apartment complex located at 3351 Marine Ave., Gardena (Post Office Box Gardena) - situated and zoned by LA County. This rare offering - 1st time in over 20 years, is one of the largest investment multifamily apartment complexes available for sale in the entire South Bay / LA area.Situated in the growing and prosperous outskirts of the city of Gardena, yet regulated by the Los Angeles County Strip rental guidelines, this asset benefits from a permissible 4% annual rental increases while also collecting for utilities reimbursements via RUBS (Ratio Utility Billing System). Consisting of a solid mixture of 38% One Bedroom, 5% Two Bedroom, and 57% Studio & Grand Studio units (to be verified), this asset has consistently been able to attract residents from the local El Camino Community College, as well as facilitate housing for the massive employment base in the immediate surrounding area. Note: All Studio units have their own kitchenettes, the Grand Studios have kitchenettes and partition walls that provide privacy between the bedrooms and the other living areas (see floor plans in photos). All units benefit from the amazing tropical and tranquil landscape consisting of massive palm trees throughout the impressive and access to the center sparkling pool that adds to the surreal beauty of this 53,743 sq ft lot (per assessor). With approximately 75+ parking spaces (covered and open), employment, colleges, freeways, local beaches, and LAX Airports in close reach, this asset should provide amazing occupancy and upside due to extreme high demand for housing and the need for affordable housing.Note; Electrical Panels show brand GE. Balcony repair and inspection requirements related to SB 326 requirements will be completed prior to close of escrow with some upgrades in progress to existing walkways.
Last Updated | 7/17/2024 | Year Built | 1960 |
---|---|---|---|
Community | Bodger Park/El Camino | County | Los Angeles |
Price History
Prior to Jul 17, '24 | $15,995,000 |
---|---|
Jul 17, '24 - Today | $15,275,000 |
Additional Details
APPLIANCES | Electric Oven |
---|---|
AREA | Bodger Park/El Camino |
LOT | 1.23 acre(s) |
LOT DESCRIPTION | Over 40 Units/Acre |
POOL | Yes |
POOL DESCRIPTION | Community |
SEWER | Public Sewer |
STORIES | 2 |
WATER | Public |
ZONING | LCR3YY |
Location
Contact us about this Property
/ | |
We respect your online privacy and will never spam you. By submitting this form with your telephone number you are consenting for Carie Webber to contact you even if your name is on a Federal or State "Do not call List". |
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2024.