ASSET 14-unit apartment located in Gardena. No local rent control – defaults to AB 1482. The property is comprised of (one) 3-bedroom/1-bathroom unit, (six) 2-bedroom/1-bathroom units, (six) 1-bedroom/1-bathroom units and (one) studio/1-bathroom unit. Situated on a large 15,293-SF lot, the property features 14 parking spaces, a storage room with bathroom, and an on-site laundry facility which is able to generate additional income. The expansive lot presents outstanding future development potential or the opportunity to add ADUs (Accessory Dwelling Units). LOCATION 15121 S. Budlong Avenue is located in a desirable pocket of Gardena, south of Marine Avenue. The asset is just a few blocks from the Pacific Square Shopping Center and Gardena Plaza and in close proximity to the many retail shops, restaurants, entertainment, and shopping centers of the area. FINANCIALS This 9,921-SF apartment presents stable in-place rents as well as legitimate rental upside. The asset contains a current cap rate of 5.03% and current GRM of 12.84 and a pro-forma cap rate of 8.54% and pro-forma GRM of 8.76. Disclosure: Gardena is not subject to local rent control; however, Gardena has Rent Mediation.