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12100 226th Street

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Address: 12100 226th St, Hawaiian Gardens, CA 90716, USA

California & West + Apartment Buildings

Created date: January 22, 2024

Date last updated: August 28, 2024

Active Adult Senior Apartments for the 55 and Over Community
Built in 1990
Attractive Unit Mix of One- & Two-Bedroom Floor Plans
Value-Add Opportunity with Significant Rental Upside
Desirable Unit Features Include Private Patios/Balconies, Ceiling Fans, Dishwashers, Central Heat & A/C & More
Prime Hawaiian Gardens Location Adjacent to Los Alamitos, Long Beach, Cypress and La Palma

Property Description

Morgan Skenderian is pleased to present the Hawaiian Terrace Senior Apartments, a 101-unit, active adult senior apartment building (for the 55+ community) in the city of Hawaiian Gardens. Built in 1990 and situated on almost 2.5 acres of land, the property is comprised of one- and two-bedroom floor plans. Property amenities include controlled access, laundry facilities, a leasing office, a clubhouse, elevators and an expansive courtyard area. Units are newly renovated and amenities include stainless steel appliances, vinyl plank flooring, ceiling fans, and a private patio or balcony. Driven by an aging population and through the continued modernization of the remaining units and increases on current rent levels that are projected to be approximately 31% below market, the Hawaiian Terrace Senior Apartments is a stand-out for a long-term hold strategy with phenomenal growth potential and exceptional future cash-on-cash returns. Ideally located in the city of Hawaiian Gardens and given its close proximity to Los Alamitos, Long Beach, Cypress and La Palma, residents have access to an endless amount of dining, shopping, and entertainment options. Additionally, the property is located near Highway 39 (Beach Boulevard), State Route 605 (San Gabriel River Freeway) State Route 91 (Riverside Freeway) and State Route 405 (San Diego Freeway), allowing for ease of access to regional employment hubs in Los Angeles and Orange Counties.

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Key Property Information

Listing Status:	Available
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$26,000,000
No. of Units:	101
Year Built:	1990
Lot Size:	2.47 Sq ft
Opportunity Zone:	No
Price per unit:	$257,426
Property Website	Click Here