$1,580,000
$1,635,000
3.4%For more information regarding the value of a property, please contact us for a free consultation.
9,147 Sqft Lot
SOLD DATE : 03/14/2024
Key Details
Sold Price $1,580,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID OC23202870
Sold Date 03/14/24
HOA Y/N No
Year Built 1974
Lot Size 9,147 Sqft
Property Description
21929 Verne Avenue is a 6-unit multifamily investment property located in Hawaiian Gardens, CA. Built in 1974, 21929 Verne Avenue features a strong mix of one, one-bedroom unit and five, two-bedroom units, of which one is a townhome. Property amenities include ample surface and garage parking, security doors, and on-site laundry. The property represents a unique opportunity to acquire a property in Hawaiian Gardens, a city which historically has a very low transaction velocity, including no sales of 5 or more units since August of 2021. Additionally, as of October 31st, 2023, 21929 Verne Avenue is the only listing of 5 or more units in Hawaiian Gardens. 21929 Verne Avenue is within a 1-mile radius of a plethora of local, neighborhood, and regional retail centers including Hawaiian Gardens Towne Center, The Gardens, and Long Beach Towne Center. The property is situated in close proximity to The Gardens Casino, the top employer and a major economic driver for the city of Hawaiian Gardens. Additionally, the property is just under 1 mile from Interstate 605, providing residents with convenient access to employment hubs throughout Los Angeles and Orange Counties. As the only multifamily listing in the city of Hawaiian Gardens, 21929 Verne Avenue represents a unique opportunity for an investor to acquire an asset with substantial upside in a market with little to no transaction volume.
Location
State CA
County Los Angeles
Area 54 - Hawaiian Gardens
Zoning HGR4*
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 7.0
Garage Description 7.0
Pool None
Community Features Curbs, Sidewalks
Total Parking Spaces 12
Private Pool No
Building
Lot Description Street Level
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7076003011
Energy Description 2351.5
Acceptable Financing Cash to New Loan, 1031 Exchange
Listing Terms Cash to New Loan, 1031 Exchange
Financing Cash
Special Listing Condition Standard
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Bought with Tyler Leeson • Marcus & Millichap RE Invest
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "