Stats

• Sold Price $15,525,000
• Price per Unit $163,421
• Price per SF $347
• Number of Buildings 1
• Number of Units 95
• Gross Building Area 44,692 SF
• Lot Size 54,031 SF
• Year Built 1966
• Parking 88
• Zoning LA[Q]C2-1-O

About the Property

SOLD!

The Galaxy Apartments, located at 835 Rosecrans Avenue, is a well-maintained 3-story apartment community consisting of 95 units in the 90247 area of South LA/Gardena, California.

This 44,692 square foot complex was built in 1966 and has maintained much of its mid-century oasis-like charm. It offers a unit mix of 37 (0+1) singles, 39 (1+1), 18 large (1+1), and 1 (2+1). The complex stands on a 54,031 square foot lot with a wraparound, dual-driveway parking lot that features 88 parking spaces.

The building is centrally located in the increasingly desirable Gardena neighborhood and has a Walk Score of 77, meaning that most errands can be accomplished on foot. Nearby parks include Rosecrans Recreation Center, Bell Park and Helen Keller Park. Gardena reflects the city’s ‘smart growth’ initiative, promoting a vibrant, compact urban area that attracts businesses and restaurants while expanding the range of transportation, employment and housing opportunities.

This was an ideal value-add opportunity for an investor looking to capitalize on upside potential through continued capital improvements and unit renovations.