15917 Prairie Ave
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15917 Prairie Ave
8 Unit Apartment Building $2,702,047 CAD ($337,756 CAD/Unit) 3.61% Cap Rate Lawndale, CA 90260
Investment Highlights
- 8-Unit Apartment Building in Lawndale
- Ample Parking For Tenants w/ 15 Total Garage Spaces | New Roof in 2024
- $237,500/Unit | $271/SF
- (6) 2-Bed/1-Bath, (1) Vacant 1-Bed/1-Bath, (1) Studio Unit | On-Site Laundry
- Great Upside Potential: 70% Rental Upside w/ 8.02% Market CAP | 8.85 Market GRM
- Great Location in Lawndale – Right Across the Street from Alondra Park Golf Course, Short Distance to El Camino College
Executive Summary
15917 Prairie Ave is an excellent investment opportunity in the heart of Lawndale, featuring an 8-unit apartment building with a diverse unit mix. The property includes six 2-bedroom, 1-bathroom units, one vacant 1-bedroom, 1-bathroom unit, and one studio unit, offering versatility for tenants and strong rental demand. Tenants will also benefit from ample parking, with 15 total garage spaces providing unmatched convenience.
This property presents significant upside potential, boasting an 8.02% market CAP rate and an 8.85 market GRM, making it an attractive option for investors looking to maximize returns. Priced at $237,500 per unit and $271 per square foot, it offers exceptional value with room for growth. It also features a new roof that was replaced in 2024. Conveniently located right across the street from Alondra Park Golf Course, the property is situated in a desirable area that enhances its appeal for tenants.
Don’t miss this chance to own a high-performing investment property in a prime Lawndale location with excellent long-term potential!
This property presents significant upside potential, boasting an 8.02% market CAP rate and an 8.85 market GRM, making it an attractive option for investors looking to maximize returns. Priced at $237,500 per unit and $271 per square foot, it offers exceptional value with room for growth. It also features a new roof that was replaced in 2024. Conveniently located right across the street from Alondra Park Golf Course, the property is situated in a desirable area that enhances its appeal for tenants.
Don’t miss this chance to own a high-performing investment property in a prime Lawndale location with excellent long-term potential!
Financial Summary (Actual - 2023) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,702,047 CAD | Building Class | C |
| Price Per Unit | $337,756 CAD | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 5,194 SF |
| Cap Rate | 3.61% | Average Occupancy | 98% |
| Gross Rent Multiplier | 15.01 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1986 |
| Property Type | Multifamily | Parking Ratio | 1.88/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $2,702,047 CAD |
| Price Per Unit | $337,756 CAD |
| Sale Type | Investment |
| Cap Rate | 3.61% |
| Gross Rent Multiplier | 15.01 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 5,194 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built | 1986 |
| Parking Ratio | 1.88/1,000 SF |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $2,631 CAD | - |
| 2+1 | 6 | $1,783 CAD | - |
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PROPERTY TAXES
| Parcel Number | 4074-025-017 | Improvements Assessment | $822,941 CAD (2024) |
| Land Assessment | $286,869 CAD (2024) | Total Assessment | $1,109,810 CAD (2024) |
PROPERTY TAXES
Parcel Number
4074-025-017
Land Assessment
$286,869 CAD (2024)
Improvements Assessment
$822,941 CAD (2024)
Total Assessment
$1,109,810 CAD (2024)
zoning
| Zoning Code | R4, Lawndale |
| R4, Lawndale |
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15917 Prairie Ave
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