Description

311 West Palm Avenue in El Segundo is an 8-unit apartment building located in the heart of El Segundo.The 7,332 sq. ft. building situated on a 8,375 sq. ft. lot and boasts an attractive unit mix of one (1) 1 bed/1 bath and (7) 2 bed/1.5 bath units, all townhome style. There are 10 dedicated carports for the building on premises and a laundry facility onsite for the tenants' convenience. While the property is a turnkey asset with new slightly sloped roofs, sewer lines, and seven renovated units, there is still over 20% rent upside. El Segundo is a close knit, family oriented community and home to award winning public schools. While it is considered a beach community, it does not experience the influx of visitors that neighboring beach communities contend with. With the Silicon Beach spillover, the need for housing is at an all-time high, making multifamily assets in the area highly desirable. 311 W Palm Ave provides an investor the opportunity to own an investment property with strong income on a valuable piece of land in an "A" location.