14815 Prairie Ave 18 Unit Apartment Building $4,650,000 ($258,333/Unit) 5.88% Cap Rate Lawndale, CA 90250

14815 PRAIRIE is an 18-unit garden-style apartment community located across three buildings at 14803, 14807, and 14815 Prairie Avenue in the city of Lawndale. The property totals approximately 13,521 square feet of building area situated on a 17,771-square-foot lot. Built in 1957, each building is two stories with tuck-under parking at the front, facing Prairie Avenue. Because the property is in the City of Lawndale, it is not subject to a local rent control ordinance; only the statewide AB 1482 rent cap applies. The unit mix consists of 12 one-bedroom/one-bath units averaging approximately 700 square feet and 6 two-bedroom/one-bath units averaging approximately 850 square feet, for a blended average of approximately 751 square feet. Residents have access to an on-site laundry room and on-site parking (18 spots). All of the windows have been updated and select units at the property have been renovated with upgrades, including hardwood flooring and granite countertops. The property is individually metered for electricity and gas. The property is in a quiet residential pocket of Lawndale bordering the City of Torrance, approximately two blocks from the 405 Freeway and one mile from El Camino College.