12120 215th Street, Hawaiian Gardens, CA 90716
- $2,150,000
- List Price
- $2,150,000
- Price Change
- ▼ $40,000 1778022811
- Status
- ACTIVE
- MLS#
- SB26074589
- Year Built
- 1980
- Lot Size
- 5,206
- Acres
- 0.12
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 110
- Property Type
- Multifamily
- Property Sub Type
- Mixed Use
- Stories
- Two Levels
Property Description
Price Reduction! Rare opportunity to acquire a well-maintained and professionally operated 1984-built multifamily asset offering strong, stable cash flow from day one. The property has been extensively improved, featuring fully remodeled interiors across all units within the past 2–3 years, along with brand new exterior paint and decking, creating a turnkey investment with minimal deferred maintenance. Spanning approximately 6,871 square feet, the asset offers an excellent unit mix of two 3-bedroom/2-bath units and three 2-bedroom/1-bath units. Units are exceptionally large, (1505, 2101, 1093, 968, and 1196 square feet according to most recent appraisal). These spacious floor plans cater to family-oriented tenants and contribute to long-term occupancy and stable tenancy. The property is well parked and efficiently designed, with a total of 11 on-site parking spaces, including five single-car garages in the front and six gated tuck-under spaces accessed from the rear alley. This ample parking configuration enhances tenant satisfaction and supports strong retention. Operationally, the asset is highly efficient with separately metered gas and electricity, individual water heaters for each unit, and a history of well-vetted residents. The combination of strong in-place income, quality tenancy, and recent capital improvements positions this property as a low-maintenance, stabilized investment. In addition to its current performance, the property offers clear upside potential through continued organic rent growth, operational efficiencies, and possible ADU development utilizing existing garage space (buyer to verify). Also, a few garages could be rented out and laundry might be installed inside units or outside if allowed by city for more income. Ideal for investors seeking a well-located, income-producing asset with large unit sizes, solid fundamentals, and long-term growth potential.
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Additional Information
- Appliances
- Dishwasher, Gas Oven, Gas Range, Gas Water Heater, Range Hood, Vented Exhaust Fan, Water Heater
- Pool Description
- None
- Heat
- Central, Forced Air, Natural Gas
- Cooling
- Yes
- Cooling Description
- Central Air
- Exterior Construction
- Stucco, Copper Plumbing
- Garage Spaces Total
- 5
- Sewer
- Public Sewer
- Water
- Public
- Interior Features
- Ceiling Fan(s), Open Floorplan, Quartz Counters, Recessed Lighting
- Attached Structure
- Attached
- Number Of Units Total
- 5
- Gross Scheduled Income
- $178,968
- Operating Expense
- 47908
Listing courtesy of Listing Agent: William Mulkey (Bill@BillMulkey.com) from Listing Office: TR Wealth Management Inc..
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.