13632 Cerise Avenue
Hawthorne, CA 90250

This property consists of is a six-unit condominium complex, each with 2bd/1ba. It is situated on a huge lot that should allow for construction of 25 new units with the appropriate current higher density allowances (land at $94.75/sf). The property is located in Hawthorne, CA, a submarket of Los Angeles with a supply constrained and high rental demand market with no rent control. The units were completely redone inside and out in 2008. All major systems on the property were redone at that time, with new roofs, upgraded electrical and plumbing, new stucco, and new windows. Each unit was given new kitchens and bathrooms, and was completed with high end finishes including travertine floors and granite counters. Additionally, each unit has new sliding doors opening up to its own patio. The units offer privacy as the only shared walls are garage walls. No aspect of the property was left untouched, even the main gate was replaced. **See note in private remarks regarding current income**