Santorini Properties 17220 Grevillea Ave Immeuble residentiel 16 lots 3 401 187 € (212 574 €/Lot) Taux de capitalisation 5,90 % Lawndale, CA 90260

ASSET
16-unit apartment located in Lawndale. No local rent control – defaults to AB 1482. Situated on a large 14,411-SF lot, the asset features new main electrical and new interior electrical subpanels (2026), newer roof (2023), upgraded units, an on-site laundry facility and a total of 16 parking spaces. The property has undergone recent exterior and landscaping improvements, enhancing its curb appeal. The property is master-metered for gas and electricity, offering investors value-add potential to implement a RUBs program to recapture a portion of utility expenses, improve operational efficiency and reduce expenses. Furthermore, the large lot and ample parking areas provide a desirable opportunity to add up to 8 ADUs. There are currently plans in-place to convert the space above the carports into 2 ADUs without eliminating any of the existing parking spaces. (Buyer to Verify).
LOCATION
17220 Grevillea Avenue is located west of Hawthorne Boulevard, just two blocks from the South Bay Galleria. It is less than 3 miles from the Pacific Ocean and Hermosa Beach Pier and in close proximity to El Camino College, Alondra Park and Northrup Grumman.
FINANCIALS
This 8,165-SF investment opportunity presents stable-in place rents as well as legitimate rental upside. The asset contains a current cap rate of 5.90% and current GRM of 10.67 with a pro-forma cap rate of 6.64% and pro-forma GRM of 9.80.