3351 Marine Avenue, Gardena, CA 90249 (MLS # SB24097501)
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.
Property Type(s):
Residential Income
|
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
Listed with The Holstein Group
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 9/7/24 4:58 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2024.
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