17220 Grevillea Avenue, Lawndale, CA 90260
List Price: $3.95M
Listing Status: Active
0Days on Market: 0
16 Bedrooms · 16 Bathrooms · 8,165 sq ft
Property Type: ResidentialIncome
Year Built: 1959
Lot Size: 14,411 sq ft
MLS Number: 26859087
About This Property
Prime South Bay Location: 16-unit apartment situated on a large 14,411-SF lot in a highly desirable Lawndale location, west of Hawthorne Boulevard, 2 blocks from South Bay Galleria and just 3 blocks from Redondo Beach. Exceptional ADU Potential: Large lot and ample parking areas present the opportunity to add up to 8 ADUs, including the potential to convert space above carport spaces into 2 new ADUs without eliminating any parking (Buyer to Verify). Strong Cash Flow & Rental Upside: 5.90% current cap rate and 10.67 GRM, with upside to a 6.64% pro-forma cap and 9.80 GRM, or a 6.52% current cap and 7.26% pro-forma cap with the implementation of RUBs. Recent Capital Improvements: Property features new main electrical, new electrical subpanels in each unit (2026), newer roof (2023), upgraded units, and recent exterior and landscaping improvements. Value-Add Utility Reimbursement Opportunity: Master-metered for gas and electricity, providing investors with the opportunity to implement RUBs to recapture utility expenses and improve operating efficiency. Favorable Property Attributes: On-site laundry facility, 16 parking spaces, and no local rent control (AB 1482 only).
Listing provided by: Jonathan Nikfarjam DRE #01856803 310-593-9869 jonathan@shieldcre.com, Shield CRE, Inc.
Source: CRMLS, MLS #: 26859087
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.