12527 Cranbrook Ave, Hawthorne, CA 90250

4-Plex in Hawthorne | 1031 Exchange Buyer | 75% Vacant

Sold: $1,235,000

Property Highlights

4-Plex in Hawthorne
Built in 1941, renovated in 1968
Delivered 75% vacant
$321 PSF | $308,750 PPU
Represented 1031 exchange client
Non rent controlled area of LA County with 8.9% allowable annual increases

The Deal Story

The Glaser Group is pleased to announce the successful closing of 12527 Cranbrook Ave in Hawthorne, CA. This 3,847 square foot 4-plex was built in 1941 and is comprised of (1) 4 bed + 2 bath owner's unit, (1) 2 bed + 1.5 bath townhouse, & (2) 1 bed+1 bath units. We represented a 1031 exchange buyer, who had previously sold a 4-plex with us earlier this year in San Bernardino and successfully executed a value-add plan there. We identified and secured this property under contract just two weeks into his 45-day IRS identification period, removing all contingencies before the ID period expired.

This property was delivered 75% vacant, offering our client the opportunity to renovate all units and the exterior, with plans to add two ADUs in the carport area at the back of the lot. Located in a non-rent-controlled area of LA County, the property benefits from 8.9% allowable annual rent increases at the moment.

If you're interested in exploring a similar sale or purchase, please send us an email or call us at 310-230-5157. We’d be happy to help.