INVESTMENT HIGHLIGHTS
• SUPERB location in El Segundo with an average household income of ±$136,000 within a mile radius
• NON-rent-controlled newer construction apartment with excellent unit mix
• Value add investment with significant upside potential
• Walking distance to Dockweiler State Beach, within minutes to Venice Beach, Manhattan Beach, El Segundo Beach, Hermosa Beach, Marina Beach, and other beaches along Pacific coast
• High barriers to entry submarket with very limited inventory and high demand for apartments for sale; High rent growth and low vacancy rate area
• Direct access to FWY 105 from Imperial Ave and easy access to FWY 405, FWY 110, and FWY 710
PROPERTY FEATURES
• Built in 1989 with many excellent features such as central heating, double pane windows, copper plumbing, newer electrical, etc.
• Superb unit mix with good combination of 2-bedroom, 3-bedroom, and 4-bedroom units
• Ample parking with combination of garage parking and tuck-under parking
• Each unit have laminate wood flooring, fireplace, tiled kitchen and bathroom, mirrored closets; one unit has private patio with ocean view
• Separately metered for electricity and gas, shared laundry room
Executive Summary
The Growth Investment Group is proud to offer 638 W Imperial Ave, a newer construction NON-rent-controlled apartment in the highly desirable area of the City of El Segundo, California.
The property is unique due to its superb location on Imperial Ave and just two blocks away from Dockweiler State Beach (public beach and RV/Trailer camp). It is also located right across the street from Los Angeles International Airport. Because of its proximity to the Pacific coast, the property has superb access and just within minutes’ drive to many popular beaches like Venice Beach, Manhattan Beach, El Segundo Beach, Marina Beach, Hermosa Beach, and other beaches along Pacific coast.
The property is a two story above parking, newer style apartment that was built in 1989. It has a total of ±7,820 SF building area and situated on a ±7,881 SF lot. It offers an excellent unit mix of two (2) 3bed+2bath, three (3) 2bed+2bath, one (1) 4bed+3bath, and one (1) 1bed+1bath units. None of the units have been completely upgraded which provides value add opportunity for buyer to do further improvements. Each unit is large with excellent layout.
Because of its newer construction, it has many amenities such as central heating, double pane windows throughout, garage parking, private patio with ocean view in one of the unit, fireplace, shared laundry area, individual water heater, and separate meter for electricity and gas. There is a total of 14 parking spaces that is provided via 8 garages, and 6 tuck-under parking.
LOCATION AMENITIES & ACCESS
The property is strategically situated on a cul-de-sac street of Imperial Ave with a small park right across the street. It is located about two blocks from Pacific Ocean and Dockweiler State Beach. Dockweiler State Beach features a three-mile-long shoreline with a picnic area and concession stand. Because of its proximity to the Pacific coast, the property has superb access and just within minutes’ drive to many popular beaches like Venice Beach, El Segundo Beach, Manhattan Beach, Marina Beach, Hermosa Beach, and other beaches along Pacific coast. It has direct access from Imperial Ave to FWY 105 that connects directly with several major freeways such as FWY 405, FWY 110, and FWY 710.
The property has a strong demographics with an average household income of ±$136,000 within a mile radius. It is surrounded by other apartment and condominium properties. It is located within the desirable El Segundo Unified School District. The City of El Segundo has a strong employment base with many aviation-related and petroleum-related industries and operations. In 2006, it won an Eddy award for being the most business-friendly city in L.A. County.