New Cap rate of 7.85% and GRM of 10.04 with some rent adjustments in the current layout.
Proposed Use: Multi-Family – Prime Development Opportunity in Lawndale- Half-Acre Lot
Unlock the potential of this prime half-acre property in the heart of Lawndale, perfectly positioned for redevelopment. Currently configured with 16 studio units (with shared bathrooms/kitchen) and a 1-bedroom home, the property generates a $14,965/ month in income ($179,580 per year), providing immediate cash flow while you plan your next steps.
With medium-density residential zoning combined with the AB 1287 density bonus, the site has the potential to accommodate up to 19 residential units, with individual units set aside for affordable housing, delivering a projected income of $531,000 per year or more. Contact me for the Offering Memorandum and Due Diligence Report prepared by Elevated Entitlements.