311 West Palm Avenue

El Segundo, CA 90245

$4,387,500
Last Sold Price
16
Beds
16
Baths
7,332 Sq. Ft.
$598 / Sq. Ft.
7,332
Sq. Ft.
$598
per Sq. Ft.

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,...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.
  1. Listed by Daniel Shieh • DRE #01978847 • Brokerage DRE #01399621 • Lyon Stahl Investment Real Estate, Inc.

Property Details for 311 West Palm Avenue

Zoning
ESR3YY
Parcel Number
4132008014
Total Units
8.0
Living Area
7332
Source Living Area
Vendor Enhanced
Area
El Segundo (141)
Vacancy Rate
3
Lot Size Area
8376

Location

Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., Daniel Shieh, DRE #01978847

Sold By Lyon Stahl Investment Real Est, Woody Stahl, DRE #01399621; Lyon Stahl Investment Real Estate, Inc., Brett Lyon, DRE #01717818

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LISTING UPDATED: 05/31/2023 03:47 PM

Property Details for 311 West Palm Avenue

StatusSold
MLS #23-244784
Days on Market42
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1970
Lot Size0.19 AC / 8,376 SF
CountyLos Angeles County

Location

Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., Daniel Shieh, DRE #01978847

Sold By Lyon Stahl Investment Real Est, Woody Stahl, DRE #01399621; Lyon Stahl Investment Real Estate, Inc., Brett Lyon, DRE #01717818

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Building Information for 311 West Palm Avenue

Stories2Residences-Year Built1970Building Size-Lot Size0.19 AC / 8,376 SF

Payment Calculator

$28,628 per month

30 year fixed, 7.25% Interest

Principal and Interest

$23,944

Property Taxes

$4,684

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 311 West Palm Avenue

Community / Development
Community / Development
  • Number Of Units: 8
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: TH Style
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $257,128
  • Net Operating Income: $170,403.00
  • Gross Income: $265,080
  • Gross Rent Multiplier: $17.30
  • Total Annual Expense: 86725
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1923
  • Lot Size Square Feet: 8376
  • Lot Size Dimensions: 55x150
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Carport
  • Total Parking: 10
  • Covered Parking: 10
  • Parking Features: Carport
Interior Features
Interior Features
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
  • Common Walls: Attached
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 02-27-2023
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,900.00
  • Unit Actual Rent: $1,900.00
  • Unit Projected Rent: $2,595.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,640.00
  • Unit Actual Rent: $13,200.00
  • Unit Projected Rent: $17,475.00
  • Like Units: 5
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,495.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $6,990.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $891,379.00
  • Assessed Improvement Percent: 65.52
  • Assessed Land Value: $469,138.00
  • Assessed Land Percent: 34.48
  • Assessed Total Value: $1,360,517.00

Property History for 311 West Palm 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 311 West Palm Avenue

Taxable ValueLand$3,700,000Additions$1,300,800Total$5,000,800
Tax Record2023$56,208 ($4,684 / month)
Home Facts
Total Finished SqFt7,332 SqFtAbove Grade Finished SqFt7,332 SqFtLot Size8,376 SqFtStyleMulti-Family Res (5+ Units)Year Built1970ZoningESR3YYCountyLOS ANGELESAPN4132-008-014

Schools near 311 West Palm Avenue

This home is within El Segundo Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Richmond Street Elementary School
PublicK to 5

El Segundo Middle School
Public6 to 8

El Segundo High School
Public9 to 12

Arena High (Continuation) 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.

Similar Homes

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Similar Sold Homes

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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 Lyon Stahl Investment Real Estate, Inc., Daniel Shieh, DRE #01978847

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.