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$ 5,400,000
Est. payment | /mo
19 Beds
26 Baths
14,561 SqFt
$ 5,400,000
Est. payment | /mo
19 Beds
26 Baths
14,561 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 14,561 sqft
Price per Sqft $370
MLS Listing ID 26105143
Bedrooms 19
HOA Y/N No
Year Built 1972
Lot Size 0.302 Acres
Property Description
We are pleased to present 11520 Menlo Avenue, a 25-unit multifamily investment opportunity located in the desirable South Bay rental market of Hawthorne, California. Built in 1972, the property consists of approximately 14,561 square feet of building area situated on a 13,162-square-foot lot. The property offers an attractive unit mix consisting of one (1) two-bedroom/two-bathroom unit, seventeen (17) one-bedroom/one-bathroom units, and seven (7) studio units. The property has benefited from substantial capital improvements in recent years, including a complete copper repipe (2019), replacement of all drain lines (2024), pitched roof replacements (2019), deck improvements (2023), and exterior painting (2024). These significant infrastructure upgrades represent meaningful investments in the property and may help minimize future capital expenditure requirements. Select units have also been renovated with updated kitchens and bathrooms, modern countertops, upgraded flooring, and refreshed finishes. Offered at $5,400,000, the property provides investors with an attractive 6.12% current capitalization rate and a projected 7.19% pro forma capitalization rate, offering immediate cash flow with additional rental upside. The property is subject to California's statewide rent stabilization regulations under AB 1482 rather than a more restrictive local rent control ordinance, providing investors with greater flexibility for future rental growth, subject to applicable laws. Strategically located in the heart of the South Bay's aerospace and technology employment corridor, 11520 Menlo Avenue offers convenient access to some of Southern California's most prominent employers. The property is situated near SpaceX's extensive Hawthorne operations, along with Amazon's Ring facilities and other technology and advanced manufacturing employers. Nearby El Segundo and Redondo Beach are home to major aerospace and defense companies, including Northrop Grumman, Boeing, RTX (formerly Raytheon), and The Aerospace Corporation. The property also benefits from proximity to Los Angeles International Airport (LAX), the I-105 and I-405 freeways, and the neighboring coastal communities of Manhattan Beach, Hermosa Beach, and Redondo Beach. This concentration of major employers, combined with convenient regional accessibility, supports the property's appeal to a broad tenant base and long-term rental demand. With its extensive capital improvements, favorable unit mix, attractive in-place returns, and additional income potential, 11520 Menlo Avenue presents an excellent opportunity to acquire a sizable multifamily investment in the South Bay.
Location
State CA
County Los Angeles
Area 108 - North Hawthorne
Zoning HAR3*
Interior
Heating Wall Furnace
Fireplace No
Laundry Common Area
Exterior
Parking Features Assigned
Total Parking Spaces 30
Building
Story 3
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 4047006023
Special Listing Condition Standard
Listed by Benjamin J. Hsiang Realty Investment Advisors, Inc. #01438644
NEARBY SCHOOL & BUSINESS