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221 Concord St

El Segundo, CA 90245
  • $4,350,000
  • STATUS: Active
  • ON SITE: 40 Days
  • MLS #: 21-798152
UPDATED: 59 min ago
$4,350,000
  • 0
    BEDS
  • 0.13
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 7,824
    SQFT
  • $556
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1912
County:
Area:

School Ratings & Info

Description

Price reduced by $145,000. New asking price is $4,350,000. 221 Concord is a 1912 construction property in a prime downtown El Segundo location that is currently operated as an apartment building. Previously the property was operated as a hotel. The three-story wood frame and stucco structure has 34 rooms that are considered SROs (Single Room Occupancy) as they share common bathrooms. Each floor has 1 or 2 bathrooms as well as a kitchen area for tenants to use. Units are leased furnished with a month-to-month term. There are various value-added opportunities remaining including converting a large recreational room in the basement into additional units potentially as ADUs. The property is being offered at an unheard of 6.23% cap rate and 9.47 GRM with a low cost per unit of $127,911. Please submit all offers as the property is priced to sell immediately.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-02T07:42:24.887. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.searchdesertrealestate.com/homes/122682862
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221 Concord St El Segundo, CA 90245

  • Price: $4,350,000
  • Status: Active
  • On Site: 40 Days
  • Updated: 59 min ago
  • MLS #: 21-798152
0
Beds
0
Baths
0
½ Baths
0.13
Acres
7,824
SQFT
$556
$/SQFT
1912
Built
Neighborhood:
El Segundo
County:
Los Angeles
Area:
El Segundo
Property Description
Price reduced by $145,000. New asking price is $4,350,000. 221 Concord is a 1912 construction property in a prime downtown El Segundo location that is currently operated as an apartment building. Previously the property was operated as a hotel. The three-story wood frame and stucco structure has 34 rooms that are considered SROs (Single Room Occupancy) as they share common bathrooms. Each floor has 1 or 2 bathrooms as well as a kitchen area for tenants to use. Units are leased furnished with a month-to-month term. There are various value-added opportunities remaining including converting a large recreational room in the basement into additional units potentially as ADUs. The property is being offered at an unheard of 6.23% cap rate and 9.47 GRM with a low cost per unit of $127,911. Please submit all offers as the property is priced to sell immediately.
Exterior Features

Lot Size Area 5724 Other Structures None Parking Garage Uncovered Total Parking 3

Interior Features

Baths Total 6.00 Cooling Other Equipment Ceiling FanOther Heating Other

Property Features

Assessed Total Value 3626146 Gross Income 459210 Gross Operating Income 445434 Like Units1 34 Net Operating Income 271134.00 Number Of Buildings 1 Number Of Units 34 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 174299 Type Of Units 34 Year Built Source Vendor Enhanced Zoning Esr3*

Listing provided courtesy of Brent Sprenkle DRE#01290116 of Berkadia.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-02T07:42:24.887. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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The John Jay Group - Bennion Deville Homes
74996 Highway 111
Indian Wells CA, 92210