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Hawaiian Terrace Apartments 12100 226th St

101 Unit Apartment Building $37,608,999 CAD ($372,366 CAD/Unit) 4.17% Cap Rate Hawaiian Gardens, CA 90716

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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 31% 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.

FINANCIAL SUMMARY (ACTUAL - 2023)	ANNUAL (CAD)	ANNUAL PER SF (CAD)
Gross Rental Income	$2,700,297	$29.42
Other Income	$26,124	$0.28
Vacancy Loss	$81,792	$0.89
Effective Gross Income	$2,644,629	$28.82
Taxes	$462,203	$5.04
Operating Expenses	$615,358	$6.70
Total Expenses	$1,077,561	$11.74
Net Operating Income	$1,567,067	$17.07

FINANCIAL SUMMARY (ACTUAL - 2023)

Gross Rental Income (CAD)
Annual	$2,700,297
Annual Per SF	$29.42

Other Income (CAD)
Annual	$26,124
Annual Per SF	$0.28

Vacancy Loss (CAD)
Annual	$81,792
Annual Per SF	$0.89

Effective Gross Income (CAD)
Annual	$2,644,629
Annual Per SF	$28.82

Taxes (CAD)
Annual	$462,203
Annual Per SF	$5.04

Operating Expenses (CAD)
Annual	$615,358
Annual Per SF	$6.70

Total Expenses (CAD)
Annual	$1,077,561
Annual Per SF	$11.74

Net Operating Income (CAD)
Annual	$1,567,067
Annual Per SF	$17.07

PROPERTY FACTS

Price	$37,608,999 CAD	Apartment Style	Low Rise
Price Per Unit	$372,366 CAD	Building Class	B
Sale Type	Investment	Lot Size	2.47 AC
Cap Rate	4.17%	Building Size	91,779 SF
Gross Rent Multiplier	13.79	Average Occupancy	100%
No. Units	101	No. Stories	3
Property Type	Multifamily	Year Built	1990
Property Subtype	Apartment	Parking Ratio	1.14/1,000 SF

Price	$37,608,999 CAD
Price Per Unit	$372,366 CAD
Sale Type	Investment
Cap Rate	4.17%
Gross Rent Multiplier	13.79
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	100%
No. Stories	3
Year Built	1990
Parking Ratio	1.14/1,000 SF

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	-	554
2+1	48	-	757
2+2	5	-	790

1 of 1

Walk Score®

Very Walkable (72)

Bike Score®

Very Bikeable (72)

What is a Walk Score®, Transit Score® & Bike Score®?

Walk Score® measures the walkability of any address.

Transit Score® measures access to public transit.

Bike Score® measures bikeability of a location.

What is a Walk Score®

, Transit Score® & Bike Score?

Walk Score® measures the walkability

of any address. Transit Score®

measures access to public transit. Bike Score®

measures bikeability of a location.®

Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Numbers	Multiple 7075-020-011 7075-020-012	Total Assessment	$32,729,381 CAD (2024)
Land Assessment	$13,389,292 CAD (2024)	Annual Taxes	$462,203 CAD ($5.04 CAD/SF)
Improvements Assessment	$19,340,089 CAD (2024)	Tax Year	2023