3351 Marine Avenue, Gardena, CA 90249
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- MLS#: SB24097501 ( Apartment )
- Street Address: 3351 Marine Avenue
- Viewed: 14
- Price: $15,275,000
- Price sqft: $0
- Waterfront: No
- Year Built: 1960
- Bldg sqft: 0
- Days On Market: 222
- Additional Information
- County: LOS ANGELES
- City: Gardena
- Zipcode: 90249
- Provided by: The Holstein Group
- Contact: David David
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DescriptionThe 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 Location and Similar Properties
Features
Appliances
- Electric Oven
Building Area Total
- 37881.00
Commoninterest
- Community Apartment
Common Walls
- 2+ Common Walls
Country
- US
Days On Market
- 145
Electric Expense
- 70130.00
Fuel Expense
- 25211.00
Garage Spaces
- 0.00
Insurance Expense
- 47500.00
Laundry Features
- Community
Levels
- Two
Lot Features
- Over 40 Units/Acre
Netoperatingincome
- 846444.00
Newtaxesexpense
- 196725.00
Number With Range
- 81
Otherincomedescription
- See Agent Notes
Parcel Number
- 4071007005
Pest Control Expense
- 2500.00
Pool Expense
- 2400.00
Pool Features
- Community
Professionalmanagementexpense
- 92000.00
Property Type
- Apartment
Sewer
- Public Sewer
Sourcesystemid
- CRM
Sourcesystemkey
- 414746402:CRM
Suppliesexpense
- 19153.00
Tenant Pays
- See Remarks
Totalactualrent
- 117259.00
Totalexpenses
- 577912.00
Trash Expense
- 15595.00
Vacancyallowance
- 59348
Views
- 14
Water Sewer Expense
- 30198.00
Water Source
- Public
Year Built
- 1960
Year Built Source
- Appraiser
Zoning
- LCR3YY