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Tour Times/Dates: Thursday, March 14th 11am-12pm | Monday, March 18th 1pm-2pm
Offers Due by Wednesday, March 20th at 5pm
Hawthorne is one of the last non-rent control cities in Los Angeles County and was voted by Forbes.com as one of the best places to buy rental properties in 2019.
Located in a terrific North Hawthorne market, 12512 Cranbrook Avenue lies on the end of a cul-de-sac street surrounded by single family homes and smaller apartments. The property features 5,444 square feet of gross area and sits on a 7,000 square foot lot. Built in 1964, the asset consists of two two-bedroom /one and a half-bathroom townhome units and two four-bedroom / two-bathroom townhome units. There is a common area washer/dryer, six covered parking spaces and all units are individually metered for and electricity.
Three out of the four units have been renovated with new countertops, stainless steel appliances, new cabinets and vinyl flooring. Current ownership has completed recent capital improvements including a new electrical panel, new paint, and new landscaping.
Located directly south of SpaceX and Tesla headquarters, the subject property is in close proximity to many new developments, restaurants and breweries. The building has great accessibility to major employment hubs such as Silicon Beach, Santa Monica and Century City. Hawthorne is also very close to the new Hollywood Park Development in Inglewood. The Hollywood Park Development is set to open next year, and will bring a 300-room hotel, over 3,000 units, and new retail and office space. The Los Angeles Clippers are also negotiating with the City of Inglewood to build a brand new Stadium.
This property provides a unique opportunity to acquire a stabilized, low maintenance fourplex with immediate day one cash flow. This property is the perfect owner-user or investment opportunity.
