Description
1225 W. 166th Street presents an exceptionally rare opportunity to acquire a meticulously maintained 1980s construction apartment asset in what is widely considered the premier pocket of Gardena south of Prairie Avenue. Combining strong in-place cash flow, an ideal unit mix, extensive renovations, abundant parking, and major future upside, this is the type of generational multifamily asset that rarely trades. Constructed in 1985, the property consists of 22 oversized two-bedroom / two-bathroom units one of the most desirable and durable rental configurations in today’s market. The spacious layouts, combined with the newer vintage construction, allow the asset to command premium rents while significantly reducing many of the deferred maintenance concerns commonly associated with older Southern California apartment buildings. The property offers an exceptional parking ratio featuring 22 private garages in addition to 28 on-site parking spaces an increasingly rare amenity that continues to drive tenant demand and long-term asset desirability. The current ownership has extensively renovated 15 of the 22 units, creating immediate operational strength while still leaving meaningful remaining rental upside for a new owner. The building is fully leased with a strong tenant profile and has been professionally maintained throughout ownership. What truly separates this asset from anything else currently on the market is the extraordinary ADU/additional unit potential. The property is uniquely positioned to allow for the addition of five (5) new two-bedroom / two-bathroom units without sacrificing existing parking. Based on current market rents, the additional units are projected to generate approximately $165,000 in additional annual gross income, with an estimated construction cost of approximately $650,000 equating to an extraordinary sub-4 GRM on cost. Offered at an attractive sub-12 GRM, 1225 W. 166th Street provides investors the rare ability to acquire a newer construction, highly parked, large-unit apartment community with immediate cash flow, operational stability, and substantial built-in upside in one of the strongest rental submarkets in the South Bay.
Details
| MLS # | SB26131058 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1985 |
| Days On Site | 70 |
| Listing Provided By | Lyon Stahl Investment Real Estate, Inc. | Cameron Samimi |
Features
| SQ Feet | 26,416 |
|---|---|
| Garage | 22 |
| Story(s) | 3 |
| Units | 22 |
| Building(s) | 1 |
| Acreage | 0.61 |
Interior
| Heating | Wall Furnace |
|---|---|
| Heating Yes / No | Yes |
| Fireplace Yes / No | No |
Exterior
| Lot Features | Twenty One To Twenty Five Units Acre |
|---|
Parking
| Parking Features | Assigned |
|---|---|
| Garage Yes / No | Yes |
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Dog Park, Sidewalks, Urban |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Gardena |
| Zip Code | 90247 |
| Area | 119 Central Gardena |
| Listing VS Median (in 90247) | |
Price: $7,200,000 low | high Med: $1,650,000 sqft: 26,416 low | high Med: 2,304 $ / sqft: $273 low | high Med: $716 On site: 70 low | high Med: 136 | |
Market Activity 90247
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Gardena |
| Zip Code | 90247 |
| Area | 119 Central Gardena |
| Listing VS Median (in 90247) | |
Price: $7,200,000 low | high Med: $1,650,000 sqft: 26,416 low | high Med: 2,304 $ / sqft: $273 low | high Med: $716 On site: 70 low | high Med: 136 | |