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$ 3,400,000
Est. payment /mo
New
508 W Imperial AVE El Segundo, CA 90245
0.26 Acres Lot
UPDATED:
Key Details
Property Type Single Family Home, Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26186613
HOA Y/N No
Year Built 1974
Lot Size 0.256 Acres
Property Sub-Type Mixed Use
Property Description
508 W Imperial Ave is an 11-unit apartment building located in the highly desirable El Segundo submarket, available for purchase for the first time in approximately 40 years. Built in 1974, the property features an attractive unit mix of four 1-bedroom/1-bath units and seven studio units totaling approximately 5,322 square feet on an 11,171 square foot lot. Offered at $3,400,000, the asset represents an attractive basis of approximately $309,091 per unit, well below the average cost per unit for multifamily properties sold in El Segundo over the last 12 months.
The property offers a strong value-add component with approximately 30% remaining rental upside and a projected market CAP rate of 5.93%. New ownership has the opportunity to capture additional income through interior renovations and potentially convert the existing garages into attached ADUs through California's favorable Accessory Dwelling Unit program (buyer to verify).
Ideally situated in a desirable, relatively low-density pocket of El Segundo, 508 W Imperial Ave is within a 10-minute drive of approximately 20 million square feet of office space and benefits from convenient access to major employment hubs, LAX, the beach, Downtown El Segundo, dining, retail, and transportation corridors.
The property offers a strong value-add component with approximately 30% remaining rental upside and a projected market CAP rate of 5.93%. New ownership has the opportunity to capture additional income through interior renovations and potentially convert the existing garages into attached ADUs through California's favorable Accessory Dwelling Unit program (buyer to verify).
Ideally situated in a desirable, relatively low-density pocket of El Segundo, 508 W Imperial Ave is within a 10-minute drive of approximately 20 million square feet of office space and benefits from convenient access to major employment hubs, LAX, the beach, Downtown El Segundo, dining, retail, and transportation corridors.
Location
State CA
County Los Angeles
Area 141 - El Segundo
Interior
Fireplace No
Laundry Common Area
Exterior
Carport Spaces 12
Pool None
Community Features Biking
Total Parking Spaces 12
Private Pool No
Building
Lot Description 11-15 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 4132001015
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
Listed by Brett Lyon Lyon Stahl Investment Real Estate, Inc. 3107801899, DRE #01717818
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