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14517 Larch Avenue is a beautifully renovated twenty-unit apartment building that is not subject to rent control, and has considerable upside for a new owner. Built in 1961, the property sits on a very large 21, 839 square foot lot and has an impressive 17, 444 rsf. Each apartment has been upgraded to varying degrees. Depending on the unit, these improvements may include: vinyl plank flooring, stainless steel kitchen appliances, modern kitchen cabinetry/fixtures, granite countertops, new paint schemes, bathroom sinks and tubs, chair railing, crown molding and updated lighting fixtures and ceiling fans. Common areas have also been enhanced with a new stone wall veneer and two beautifully landscaped garden courtyards. Additionally, there are reinforced handrails and newer decking and paint. There are 16 covered parking spaces, 4 enclosed garage spots, and 4 uncovered spaces. The property has on-site laundry facilities. 1 unit is currently being operated as a 3 bed/2 bath unit. Each unit is individually metered for both gas and electricity, with the building having 22 gas meters and 21 electric meters. There are also two, newer 100-gallon water heaters. Though the property has been upgraded considerably, there is still much potential upside in current rents; many units in Lawndale are asking considerably higher rents. It is very rare to find an asset like this available for purchase in the South Bay and Lawndale.
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Listing Courtesy ofKeller Williams Beach Cities