11853 Manor DriveHawthorne, CA 90250

Description

11853 Manor Dr | 7-Unit Multifamily, Hawthorne. 1958-built asset totaling 5,244 SF on an 8,762 SF lot in North Hawthorne, on the west side of Manor Dr just north of W 120th St, minutes from SpaceX's Hawthorne campus, LAX, and SoFi Stadium. The property features (5) 2BR/1BA units averaging 749 SF, (1) 1BR/1BA at 574 SF, and (1) 3BR/2BA at 900 SF, all upgraded with no known deferred maintenance. All seven units are occupied. In-place rents average $2,317, or 96.9% of the $2,392 market average, and a RUBS program recovers $13,527 annually against the master-metered utility load. Offered at $1,950,000 ($278,571/unit | $371.85/SF) with a 6.88% in-place cap rate, the real story is day-one yield: finished product, fully leased, with a 7.20% pro forma cap as rents reset to market at turnover under AB 1482.

Property Information

Property type

Residential Income

Year built

1958

Living area

5,244 Sq Ft

Lot size

0.20 acres

Parking spaces

7

Zoning

HAR3YY

Days on market

15

MLS^® Listing#

26107675

Property Features

Cooling

None

Heating

None

Parking

Carport

Financial Details

HOA

None

Parcel number

4044021011

Directions

West side of Manor Dr, north of W 120th St