3351 Marine Avenue

3351 Marine Avenue

Gardena, CA 90249

$15,995,000
Price
3
Beds
1099
Baths
37,881 Sq. Ft.
$422 / Sq. Ft.
37,881
Sq. Ft.
$422
per Sq. Ft.
a view of a volley ball court
front view of a house
a view of a house with a swimming pool
a view of a building with a garden
a view of a building with a garden
a view of backyard of house with palm trees
an aerial view of a
an aerial view of a city
front view of a house with a swimming pool
a kitchen with granite countertop white cabinets and white appliances
a view of hallway with wooden floor
an empty room with wooden floor and windows
a picture of a bench in front of a wall
a view of empty room with wooden floor
a view of an empty room with wooden floor and a window
a view of a room with wooden floor and white cabinets
a view of an empty room with wooden floor and a window
a bathroom with a sink a toilet and shower
a kitchen with a stove and cabinets
a view of a kitchen with appliances and cabinets
a view of a garage
a view of a yard with furniture
a view of a room with an empty space
a view of a balcony and wooden floor
a bathroom with a bathtub a shower a sink and a mirror
a bathroom with a sink a toilet and a mirror

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...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.
  1. Listed by David Holstein • DRE #01210777 • Brokerage DRE #01210777 • The Holstein Group • 310-345-9994

Property Details for 3351 Marine Avenue

Parking Spaces Total
0
Private Pool
No
Total Units
81.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
37881
Assessor Parcel Number
4071-007-005
Property Attached YN
true

Location

Listing Courtesy of The Holstein Group, David Holstein, DRE #01210777
Add your commute
LISTING UPDATED: 05/25/2024 01:45 PM

Property Details for 3351 Marine Avenue

StatusActive
MLS #SB24097501
Days on Market17
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1960
CountyLos Angeles County

Location

Listing Courtesy of The Holstein Group, David Holstein, DRE #01210777
Add your commute

Building Information for 3351 Marine Avenue

Building/Complex3351 Marine AveFloor-Stories2Residences-Pet Policy-Year Built1960Building Size-

Payment Calculator

$94,563 per month

30 year fixed, 7.25% Interest

Principal and Interest

$87,291

Property Taxes

$7,272

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 3351 Marine Avenue

Rental Info
Rental Info
  • Tenant Pays: See Remarks
Income / Expense / Tax Details
Income Details
  • Gross Income: $0
  • Gross Scheduled Income: $1,483,704
  • Vacancy Allowance: 29758
  • Vacancy Allowance Rate: 2
  • Net Operating Income: $860,235
  • Other Income Description: See Agent Notes
  • Gross Multiplier: 10.78
  • Cap Rate: 5.38
Expense Details
  • Operating Expense: $593,711
  • New Taxes Expense: $214,435
  • Fuel Expense: $34,807
  • Licenses Expense: $1,500
  • Pest Control Expense: $2,500
  • Pool Expense: $2,400
  • Electric Expense: $65,879
  • Insurance Expense: $47,500
  • Maintenance Expense: $75,000
  • Maintenance Percent: 5.00%
  • Professional Management Expense: $92,000
  • Trash Expense: $12,819
  • Water Sewer Expense: $25,718
  • Supplies Expense: $19,153
  • Total Expenses: $593,711
Tax / Assessment Info
  • Tax Tract Number: 993
  • Tax Census Tract: 6037.06
  • CFD/Mello-Roos Fee: $20,196
  • Tax Lot: 98
Community / Development
Community / Development
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Appliances: Electric Oven
  • Equipment: Community
  • Laundry: Yes
  • Laundry Features: Community
Exterior Features
  • Entry Location: 1
  • Pool Features: Community
  • Pool: Community/Common
Land/Lot Info
  • Lot Features: Over 40 Units/Acre
  • Number Of Units: 81
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 22
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 22
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,277
  • Unit Type Total Rent: $28,093
  • Unit Type Pro Forma: 1484
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 24
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 24
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,363
  • Unit Type Total Rent: $32,725
  • Unit Type Pro Forma: 1525
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 31
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,582
  • Unit Type Total Rent: $49,062
  • Unit Type Pro Forma: 1750
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,844
  • Unit Type Total Rent: $7,379
  • Unit Type Pro Forma: 2049
  • Unit Type Type: 4
Unit Information
  • Number Of Units Leased: 78
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number With Range: 81

Property History for 3351 Marine Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 3351 Marine Avenue

Taxable ValueLand$3,793,467Additions$1,917,427Total$5,710,894
Tax Record2023$87,269 ($7,272 / month)
Home Facts
Total Finished SqFt37,881 SqFtAbove Grade Finished SqFt37,881 SqFtLot Size53,743 SqFtStyleMulti-Family Res (5+ Units)Year Built1960ZoningLCR3YYCountyLOS ANGELESAPN4071-007-005

Schools near 3351 Marine Avenue

This home is within Lawndale Elementary School District.
Rating
School
Type
Grades
Distance
F. D. Roosevelt Elementary School
Public - K to 5
Will Rogers Middle School
Public - 6 to 8
Lawndale High School
Public - 9 to 12
Leuzinger High School
Public - 9 to 12
Rating
School
Distance
F. D. Roosevelt Elementary School
PublicK to 5

Will Rogers Middle School
Public6 to 8

Lawndale High School
Public9 to 12

Leuzinger High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 3351 Marine Avenue, Gardena, CA 90249

3351 Marine Avenue is a multi-family home for sale in Gardena, CA 90249. This property was listed for sale on May 14, 2024 by The Holstein Group, it's currently listed at $15,995,000. It has been on the market for a total of 17 days and was last sold on August 23, 2002. This listing's school districts are Lawndale Elementary School District, Centinela Valley Union High School District. Nearby schools include F. D. Roosevelt Elementary School, Will Rogers Middle School and Lawndale High School. 3351 Marine Avenue is a 3-bed, 1099-bath, 37,881 sqft multi-family home built in 1960.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of The Holstein Group, David Holstein, DRE #01210777

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.