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4332 Andy St 3 Unit Apartment Building Offered at $1,485,000 at a 5.31% Cap Rate Lakewood, CA 90712
Investment Highlights
- $160K in Capital Improvements, Inc. New Windows, New Re-Plumbing, New Drain Lines
- New Exterior & Interior Paint; All New Landscaping & Fencing
- Private Yards with Lush Landscaping
- Completely Renovated Units - New Flooring, Cabinets, Countertops, Stainless Steel Appliances, Lighting Fixtures & Tub/Showers
- 100% 2BD/1BA Units; Designated Washer/Dryer for Each Unit
- 3 Garages with ADU Potential (buyer to verify)
Executive Summary
This turnkey triplex presents a rare opportunity to acquire a fully renovated, low-maintenance multifamily asset in the highly desirable Lakewood submarket. Comprised of three spacious two-bedroom/one-bath units, the property has undergone approximately $160,000 in recent capital improvements, including comprehensive plumbing upgrades, new drain lines, dual-pane windows, fully renovated interiors with new fixtures, appliances, and tub/shower surrounds, as well as fresh interior and exterior paint, new landscaping, and perimeter fencing.
Designed for operational efficiency and tenant appeal, each residence features
its own washer and dryer, while three garages provide valuable parking and offer potential for a future ADU conversion (buyer to verify). With strong in-place cash flow, and virtually no near-term capital requirements, the property offers an attractive combination of stable income, long-term appreciation potential, and additional upside through future development.
Designed for operational efficiency and tenant appeal, each residence features
its own washer and dryer, while three garages provide valuable parking and offer potential for a future ADU conversion (buyer to verify). With strong in-place cash flow, and virtually no near-term capital requirements, the property offers an attractive combination of stable income, long-term appreciation potential, and additional upside through future development.
Property Facts
| Price | $1,485,000 | Property Type | Multifamily |
| Price Per Unit | $495,000 | Lot Size | 0.18 AC |
| Sale Type | Investment | Building Size | 2,400 SF |
| Cap Rate | 5.31% | No. Stories | 1 |
| Gross Rent Multiplier | 13.33 | Year Built/Renovated | 1944/2025 |
| No. Units | 3 | Parking Ratio | 1.25/1,000 SF |
| Price | $1,485,000 |
| Price Per Unit | $495,000 |
| Sale Type | Investment |
| Cap Rate | 5.31% |
| Gross Rent Multiplier | 13.33 |
| No. Units | 3 |
| Property Type | Multifamily |
| Lot Size | 0.18 AC |
| Building Size | 2,400 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1944/2025 |
| Parking Ratio | 1.25/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | - | 800 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
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