$15,275,000 Price Analysis   ♡   Gardena, CA 90249 39 bed None bath 37,881 SqFt ($403/SqFt) 1.23 acre lot. Built 1960 Listed 2024-05-14, Taxes $87,146 | Ⓧ USDA Ineligible due to price & location near Gardena |
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 and 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 th bedrooms and the other living areas (see floor plans in photos). All units benefit from the astounding 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.
Presented by David Holstein at
The Holstein Group.
Property MLS #SB24097501 from CRMLS
Appliances YN: Yes
Laundry Features: Community
Pool Features: Community
Lot Size Acres: 1.2341
Lot Size Source: Assessor
Lot Size Square Feet: 53757
Bedrooms in Unit-3: 1
Bedrooms in Unit-4: 2
Total Bathrooms in Unit-1: 22
Total Bathrooms in Unit-2: 24
Total Bathrooms in Unit-3: 1
Total Bathrooms in Unit-4: 2
Vacancy Allowance: 59348
Rent Control: Yes
County: Los Angeles
Cap Rate: 5.55
Source Property Type: Residential Income
Insurance Expense: 47500.00
Area: 111 - Bodger Park/El Camino
Source Neighborhood: 111 - Bodger Park/El Camino
New Taxes Expense: 196725.00
Number of Separate Electric Meters: 1
Number of Separate Gas Meters: 1
Number of Separate Water Meters: 1
Parcel Number: 4071007005
Pest Control Expense: 2500.00
Professional Management Expense: 92000.00
Trash Expense: 15595.00
Zoning: LCR3YY
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $1,869,773 + $3,719,086 $5,588,859 | $87,146 |
| 2021 | $1,833,111 + $3,646,163 $5,479,274 | $85,354 |
| 2020 | $1,814,315 + $3,608,777 $5,423,092 | $85,486 |
| 2019 | $1,778,741 + $3,538,017 $5,316,758 | $82,561 |
| 2018 | $1,743,864 + $3,468,645 $5,212,509 | $80,826 |
| 2017 | $1,709,671 + $3,400,633 $5,110,304 | $77,321 |
| 2016 | $1,676,149 + $3,333,954 $5,010,103 | $75,457 |
| 2015 | $1,650,972 + $3,283,875 $4,934,847 | $73,626 |
| 2014 | $1,618,632 + $3,219,549 $4,838,181 | $73,490 |
| 2013 | $1,611,317 + $3,204,999 $4,816,316 | $70,949 |
| 2012 | $1,579,723 + $3,142,156 $4,721,879 | $69,390 |
| 2010 | $1,548,749 + $3,080,546 $4,629,295 | $65,992 |
| 2009 | $1,540,827 + $3,064,787 $4,605,614 | $64,967 |
| 2009 | $1,537,175 + $3,057,523 $4,594,698 | $64,967 |
| 2008 | $1,510,615 + $3,004,694 $4,515,309 | $63,286 |
| 2007 | $1,480,996 + $2,945,779 $4,426,775 | $61,595 |
$15,275,000
CRMLS
Listed 2024-05-14
$15,995,000
CRMLS
Sold 2002-08-23
$4,095,000
Public Record
Sold 1992-12-29
$2,150,000
Public Record
Sold 1989-02-02
$4,523,630
Public Record
Sold 1987-08-06
$3,600,000
Public Record
Sold 1985-03-05
$998,000
Public Record
Sold 1982-01-04
$461,500
Public Record
Year Built: 1960
Building Features: 1
Common Walls: 2+ Common Walls
Entry Level: 1
Entry Location: 1
Property Age: 64
Property Attached: Yes
Levels or Stories: Two
Building Total Stories: 2
Structure Type: Apartment
Year Built Source: Appraiser
Sewer: Sewer: Public Sewer, Water Sewer Expense: 30198.00
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.