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Hawaiian Terrace Apartments 12100 226th St 101 Unit Apartment Building $26,000,000 ($257,426/Unit) 4.45% Cap Rate Hawaiian Gardens, CA 90716
INVESTMENT HIGHLIGHTS
- Active Adult Senior Apartments for the 55 and Over Community
- Attractive Unit Mix of One- & Two-Bedroom Floor Plans
- Desirable Unit Features Include Private Patios/Balconies, Ceiling Fans, Dishwashers, Central Heat & A/C & More
- Built in 1990
- Value-Add Opportunity with Significant Rental Upside
- Prime Hawaiian Gardens Location Adjacent to Los Alamitos, Long Beach, Cypress and La Palma
EXECUTIVE SUMMARY
Morgan Skenderian is pleased to present the Hawaiian Terrace Senior Apartments, a 101-unit, active adult senior apartment building (for the 55+ community) in the city of Hawaiian Gardens. Built in 1990 and situated on almost 2.5 acres of land, the property is comprised of one and two-bedroom floor plans. Property amenities include controlled access, laundry facilities, a leasing office, a clubhouse, elevators and an expansive courtyard area. Units are newly renovated and amenities include stainless steel appliances, vinyl plank flooring, ceiling fans, and a private patio or balcony. Driven by an aging population and through the continued modernization of the remaining units and increases on current rent levels that are projected to be approximately 28% below market, the Hawaiian Terrace Senior Apartments has phenomenal growth potential and exceptional future cash-on-cash returns.
Ideally located in the city of Hawaiian Gardens and given its close proximity to Los Alamitos, Long Beach, Cypress and La Palma, residents have access to an endless amount of dining, shopping, and entertainment options. Additionally, the property is located near Highway 39 (Beach Boulevard), State Route 605 (San Gabriel River Freeway) State Route 91 (Riverside Freeway) and State Route 405 (San Diego Freeway), allowing for ease of access to regional employment hubs in Los Angeles and Orange Counties.
Ideally located in the city of Hawaiian Gardens and given its close proximity to Los Alamitos, Long Beach, Cypress and La Palma, residents have access to an endless amount of dining, shopping, and entertainment options. Additionally, the property is located near Highway 39 (Beach Boulevard), State Route 605 (San Gabriel River Freeway) State Route 91 (Riverside Freeway) and State Route 405 (San Diego Freeway), allowing for ease of access to regional employment hubs in Los Angeles and Orange Counties.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$1,950,816
|
$21.26
|
| Other Income |
$26,568
|
$0.29
|
| Vacancy Loss |
$59,322
|
$0.65
|
| Effective Gross Income |
$1,918,062
|
$20.90
|
| Taxes |
$324,191
|
$3.53
|
| Operating Expenses |
$437,872
|
$4.77
|
| Total Expenses |
$762,063
|
$8.30
|
| Net Operating Income |
$1,155,999
|
$12.60
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $1,950,816 |
| Annual Per SF | $21.26 |
| Other Income | |
|---|---|
| Annual | $26,568 |
| Annual Per SF | $0.29 |
| Vacancy Loss | |
|---|---|
| Annual | $59,322 |
| Annual Per SF | $0.65 |
| Effective Gross Income | |
|---|---|
| Annual | $1,918,062 |
| Annual Per SF | $20.90 |
| Taxes | |
|---|---|
| Annual | $324,191 |
| Annual Per SF | $3.53 |
| Operating Expenses | |
|---|---|
| Annual | $437,872 |
| Annual Per SF | $4.77 |
| Total Expenses | |
|---|---|
| Annual | $762,063 |
| Annual Per SF | $8.30 |
| Net Operating Income | |
|---|---|
| Annual | $1,155,999 |
| Annual Per SF | $12.60 |
PROPERTY FACTS In Escrow
| Price | $26,000,000 | Apartment Style | Low-Rise |
| Price Per Unit | $257,426 | Building Class | B |
| Sale Type | Investment | Lot Size | 2.47 AC |
| Cap Rate | 4.45% | Building Size | 91,779 SF |
| Gross Rent Multiplier | 13.15 | Average Occupancy | 98% |
| No. Units | 101 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1990 |
| Property Subtype | Apartment | Parking Ratio | 1.14/1,000 SF |
| Zoning | R2 | ||
| Price | $26,000,000 |
| Price Per Unit | $257,426 |
| Sale Type | Investment |
| Cap Rate | 4.45% |
| Gross Rent Multiplier | 13.15 |
| No. Units | 101 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 2.47 AC |
| Building Size | 91,779 SF |
| Average Occupancy | 98% |
| No. Stories | 3 |
| Year Built | 1990 |
| Parking Ratio | 1.14/1,000 SF |
| Zoning | R2 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Recreation Room
- Vinyl Flooring
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Clubhouse
- Courtyard
- Fitness Center
- Laundry Facilities
- Property Manager on Site
- Tenant Controlled HVAC
- Furnished Units Available
- Gameroom
- Elevator
- Online Services
- Public Transportation
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 48 | $1,570 | 554 |
| 2+1 | 48 | $1,735 | 757 |
| 2+2 | 5 | $1,843 | 790 |
1 1
Walk Score®
Very Walkable (77)
Bike Score®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $23,346,575 (2025) | |
| Land Assessment | $9,550,871 (2025) | Annual Taxes | $324,191 ($3.53/SF) |
| Improvements Assessment | $13,795,704 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$9,550,871 (2025)
Improvements Assessment
$13,795,704 (2025)
Total Assessment
$23,346,575 (2025)
Annual Taxes
$324,191 ($3.53/SF)
Tax Year
2024
CONTACTS
-
Doug Rodermund -
Rick Applebaum -
Paul Espinosa -
Morgan-Skenderian Investment Real Estate Group
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Hawaiian Terrace Apartments | 12100 226th St
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