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Listed by Brett Lyon, DRE #01717818 • Lyon Stahl Investment Real Estate, Inc.
$ 3,400,000
Est. payment /mo
New
508 W Imperial AVE El Segundo, CA 90245
0.26 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSB26186613
Year Built 1974
Lot Size 0.256 Acres
Source California Regional MLS
Property Description
508 W Imperial Ave is an 11-unit apartment building located in the highly desirable El Segundo submarket, available for purchase for the first time in approximately 40 years. Built in 1974, the property features an attractive unit mix of four 1-bedroom/1-bath units and seven studio units totaling approximately 5,322 square feet on an 11,171 square foot lot. Offered at $3,400,000, the asset represents an attractive basis of approximately $309,091 per unit, well below the average cost per unit for multifamily properties sold in El Segundo over the last 12 months. The property offers a strong value-add component with approximately 30% remaining rental upside and a projected market CAP rate of 5.93%. New ownership has the opportunity to capture additional income through interior renovations and potentially convert the existing garages into attached ADUs through California's favorable Accessory Dwelling Unit program (buyer to verify). Ideally situated in a desirable, relatively low-density pocket of El Segundo, 508 W Imperial Ave is within a 10-minute drive of approximately 20 million square feet of office space and benefits from convenient access to major employment hubs, LAX, the beach, Downtown El Segundo, dining, retail, and transportation corridors.
Location
State CA
County Los Angeles
Area 141 - El Segundo
Interior
Laundry Laundry Area
Exterior
Garage Spaces 12.0
Pool None
Building
Water District - Public
Others
Tax ID 4132001015
Special Listing Condition Not Applicable
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