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$ 2,200,000
Est. payment /mo
Pending
144 Whiting El Segundo, CA 90245
6,455 Sqft Lot
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Pending
Purchase Type For Sale
MLS Listing ID PW26192864
HOA Y/N No
Year Built 1953
Lot Size 6,455 Sqft
Property Sub-Type Mixed Use
Property Description
144 Whiting St is a charming bungalow-style 5-unit apartment property located in the highly desirable El Segundo submarket. Built in 1953, the property features an attractive unit mix of four 2-bedroom/1-bath units and one studio unit, totaling approximately 3,324 square feet of improvements on a 6,455 square foot lot. The property features a unique low-density residential layout with private exterior entrances and four private 1-car garages, providing highly desirable on-site parking for tenants. Offered at $2,200,000, the property represents an attractive basis of $440,000 per unit, below the $466,105 average price per unit of the recent El Segundo multifamily sales comparables.
The property offers new ownership an immediate opportunity to improve income, with four of the five units currently on month-to-month leases and rental increases available upon acquisition. Current monthly rents total $11,150 compared to projected market rents of $14,150, representing approximately 27% remaining rental upside. At the asking price, the property generates a 3.89% current CAP rate with the potential to achieve a projected 5.21% pro forma CAP rate as rents are brought toward market levels.
Ideally situated near Downtown El Segundo, 144 Whiting St benefits from convenient access to the beach, LAX, major employment centers, dining, retail, and entertainment amenities. The property offers investors the opportunity to acquire a well-located, character-rich multifamily asset with strong long-term fundamentals in one of the South Bay's most desirable coastal rental markets.
The property offers new ownership an immediate opportunity to improve income, with four of the five units currently on month-to-month leases and rental increases available upon acquisition. Current monthly rents total $11,150 compared to projected market rents of $14,150, representing approximately 27% remaining rental upside. At the asking price, the property generates a 3.89% current CAP rate with the potential to achieve a projected 5.21% pro forma CAP rate as rents are brought toward market levels.
Ideally situated near Downtown El Segundo, 144 Whiting St benefits from convenient access to the beach, LAX, major employment centers, dining, retail, and entertainment amenities. The property offers investors the opportunity to acquire a well-located, character-rich multifamily asset with strong long-term fundamentals in one of the South Bay's most desirable coastal rental markets.
Location
State CA
County Los Angeles
Area 141 - El Segundo
Interior
Cooling None
Fireplaces Type Living Room
Fireplace Yes
Laundry Common Area
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Biking
Total Parking Spaces 4
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 4136029001
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
Listed by Woody Stahl Lyon Stahl Investment Real Est broker@lyonstahl.com, DRE #01399621
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