PROPERTY DESCRIPTION

A rare opportunity for an investor to enter the highly sought after Lakewood apartment market. Very few apartment buildings in Lakewood change hands due to the excellent rental market fundamentals/demographics of the area, which include an $89,469 median household income. Offered at a 4.12% cap rate and 15.01 GRM. Approximately 20% market rental proforma upside to a 5.38% cap rate and 12.55 GRM. The property is well located on a tree lined residential block in close proximity to Artesia High School, Willow Elementary School, and Palm Park & Community Center. Superior unit mix of six large two bedroom townhome style units plus a three bedroom house. Full perimeter fencing/gating. Abundant on-site parking: 16 Parking Spaces (7 Garage + 8 Surface + 1 Guest). 3 Buildings, 8,326 Rentable Square Footage. 16,620 Square Foot Wrap-Around Corner Lot. 5 minute drive to both Los Cerritos Center AND Long Beach Towne Center. Convenient freeway access to the 91 and 605.