3351 Marine Avenue

Gardena, CA 90249

$15,995,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $422 / sqft

1960

calendar_month Built

Property Description

The Marine Bay Apartments - an 81 Unit South Bay apartment complex is located at 3351 Marine Ave., Gardena (Post Office Box) - LA County. This extremely rare offering - 1st time in over 20 years, is one of the largest investment multifamily apartment complexes in the South Bay for sale.! Situated in the growing and prosperous outskirts of the city of Gardena, yet regulated by the Los Angeles County Strip rental guidelines, this asset benefits from a permissible 4% annual rental increases while the owner has also been strategically instituting RUBS on new tenancy for several years. Consisting of a solid mixture of 38% One Bedroom, 5% Two Bedroom, and 57% Studio & Grand Studio units (to be verified), this asset has consistently been able to attract residents and/or students from the local El Camino Community College, as well as facilitate housing for the massive employment base in the immediate surrounding area. Note: All Studio units have their own kitchenettes, the Grand Studios have kitchenettes and partition walls that provide privacy between the bedrooms and the other living areas (see floor plans in photos). All units benefit from the amazing tropical landscape consisting of massive palm trees throughout the impressive 53,743 sq ft lot (per assessor). While walking the interior courtyards of this magnificent complex with approximately 75+ parking spaces (covered and open), and center access to the beautiful sparking pool, residents can feel and enjoy the immense tranquility and serenity that this complex has to offer. All units are Master Metered for Gas and Electric, however, Rubs (utility bill back) has been instituted on new residents for a few years with the last 12 months operating data showing an approximate recapturing of over $40k annually (Buyer to verify all figures), thus minimizing the overall expenses and concerns related to a master metered utility asset.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A

Listing Information

Address 3351 Marine Avenue
City Gardena
State CA
Zip 90249
County Los Angeles
Listing Agent David Holstein DRE#01210777
Courtesy Of The Holstein Group
MLS SB24097501
List Price $15,995,000
Status Active
Type Residential Income
Subtype Apartment
Structure Size N/A
Lot Size 53,757
Year Built 1960
DOM 12

Exterior Information

Maps

Listing information courtesy of: David Holstein, The Holstein Group . *Based on information from the Association of REALTORS/Multiple Listing as of May 25th, 2024 at 8:45 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.