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15003 LarchLawndale, CA 90260

Los Angeles County

$1,799,000List price
4,001Sq Ft
1951Year built
0.49Acre lot
2Stories
6 months agoOn market

Description

Prime Half-Acre Development Opportunity in Lawndale 0.49-Acre Lot | 6.89% Cap Rate | 10.04 GRM Located on approximately 0.49 acres in the City of Lawndale, this property offers an immediate income-producing opportunity with significant potential for future redevelopment. Current Use & Income: The property is currently operated as a rooming house/SRO (Single Room Occupancy), consisting of 16 rooms plus a separate one-bedroom house. The one-bedroom house has its own address at 15001, while the remaining units use the address 15003. The property currently generates approximately $14,965 per month in gross income, or $179,580 annually, providing immediate cash flow while allowing an investor to maintain the existing operation or explore future development options. Current investment metrics: Cap Rate: 6.79% GRM: 10.04 Gross Monthly Income: $14,965 Gross Annual Income: $179,580 Proposed Future Use: Multifamily Development: A professional Due Diligence/Best Use Report was commissioned to evaluate the property's redevelopment potential. According to the report prepared by Elevated Entitlements, the property presents a potential multifamily development opportunity. Based on the property's medium-density residential zoning and the potential application of AB 1287 density bonus provisions, the Due Diligence Report indicates the site may accommodate up to 19 residential units, including units designated as affordable housing. The report projects potential annual income of approximately $531,000 or more under the proposed multifamily development scenario. This creates the opportunity to acquire an income-producing property today while evaluating a potential transition to a higher-density residential use. Offering Memorandum and Due Diligence Report available upon request. Contact me for additional information and to review the materials prepared by Elevated Entitlements.

Property Information

Property type
Commercial Sale
Sub-type
Hotel/Motel
Year built
1951
Stories
2
Building area
4,001 Sq Ft
Lot size
0.49 acres
Days on market
195
MLS® Listing#
SB26057243

Property Features

Laundry
Inside
Water source
Public

Financial Details

Annual taxes
$22,488Tax year 2025
Parcel number
4077022016

Directions

East of Hawthorne South of Rosecrans

Listing Courtesy: Keller Williams Realty - 310-701-2486

Presented by: Carol Anne Mills

Based on information from California Regional Multiple Listing Service, Inc. as of 2026-03-24T00:00:00.000Z and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Licensed in the state of California.

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