The Cohen Group is pleased to present its latest listing, 14517 Larch Avenue, a beautifully renovated twenty-unit apartment building located in Lawndale, California. Built in 1961, 14517 Larch Avenue sits on a very large 21,839 square foot lot and has an impressive 17,444 in rentable square feet. This investment property is not subject to Los Angeles City rent control.
14517 Larch has the unit mix that all investors are looking for: all 2 bedroom/ 1 bath units. On average, the units are almost 900 square feet each! To maximize the appeal of the units for today’s discerning apartment renter, each apartment at Larch has been upgraded to varying degrees. Depending on the particular unit, these improvements may include: vinyl plank flooring, stainless steel kitchen appliances, modern kitchen cabinetry/fixtures, attractive granite counter-tops, two tone paint schemes, bathroom sinks and tubs, chair railing, crown molding and updated lighting fixtures and ceiling fans.
The property’s common areas have also been dramatically enhanced. 14517 Larch has very attractive curb appeal due to its modern, new stone wall veneer. The property boasts two quiet, beautifully landscaped garden courtyards. Additionally, there are reinforced handrails and newer decking and paint throughout. Two of the units have very large private patios! For the tenant’s convenience, there are sixteen covered parking spaces, four enclosed garage spots, and four uncovered parking spaces. The property has on-site laundry facilities (leased). One of the units is currently being operated as a 3 bed/2 bath unit (legally a two-bedroom, one bath unit). Each unit is individually
metered for both gas and electricity, with the building having 22 gas meters and 21 electric meters. There are also two, newer 100-gallon water heaters.
Though the property has been upgraded considerably, there is still much potential upside in the current rents. Many units in Lawndale are asking considerably higher rents (see rent survey herein). It is very rare to find an asset like this available for purchase in the South Bay and Lawndale. In today's competitive rental market, 14517 Larch Avenue is a rare find for both investors and tenants alike. Please contact the Cohen Group to discuss this incredible multifamily investment opportunity.
