11626 CEDAR AVE, HAWTHORNE, CA 90250

Property Description

11626 Cedar Avenue presents an attractive six-unit multifamily investment opportunity in a desirable pocket of Hawthorne. Offered at $1,699,000, the property features a strong in-place 5.68% CAP rate and 10.45 GRM, with projected market rents supporting a pro forma 7.71% CAP rate and 8.54 GRM. Additionally, five of the six units are eligible for rent increases effective February 1, 2027, potentially increasing the CAP rate to 6.20%. The unit mix consists of four 2-bedroom/1-bath units and two 3-bedroom/2-bath units, providing a desirable combination of spacious floor plans. Built in 1963, the property consists of 5,926 square feet of improvements situated on a 7,661-square-foot lot. Recent capital improvements include updated vinyl windows, a complete roof replacement in 2020, exterior painting in 2022, and deck improvements in 2023. Additionally, one of the 3-bedroom units underwent a complete renovation in 2026, including the installation of an in-unit washer/dryer. The building offers ample on-site parking with six garage spaces and six additional driveway spaces. Current rents offer approximately 23% rental upside based on projected market rents, providing new ownership with an opportunity to increase income over time. Ideally located in Hawthorne, the property provides convenient access to major employment centers throughout the South Bay, including LAX, El Segundo, and the surrounding aerospace and technology industries. Residents also benefit from proximity to the 105 and 405 freeways, as well as SoFi Stadium, Intuit Dome, Hollywood Park, and the beaches of Manhattan Beach, Hermosa Beach, and Redondo Beach. Offered at an attractive $286.70 per building square foot, 11626 Cedar Avenue combines strong in-place income, recent capital improvements, a desirable unit mix, ample parking, and long-term rental growth potential in an established South Bay rental market.