Price Reduction
Address
221 Concord Street El Segundo, CA
Price
$ 4,350,000
Property Attributes
  • MLS#21798152
  • TypeIncome
  • CountyLOS ANGELES
  • CityEl Segundo
  • AreaEl Segundo
  • Zip90245
  • Style
  • Price$ 4,350,000
  • Bedrooms34
  • Full Bathrooms34
  • Half Bathrooms0
  • Sqr Footage7824
  • Lot Size5,724 SqFt
Listing Provided Courtesy Of:
Brent Sprenkle with Berkadia - 310-621-8221
Data Source:
California Regional MLS (CRMLS) - 25 - CA
Property Description

Price reduced by $145,000. New asking price is $4,350,000. Call for Offers-Submit All Offers by Wednesday, November 17th at 5:00 pm. 221 Concord is a 1912 construction property in a prime downtown El Segundo location that is currently operated as an apartment building. Previously the property was operated as a hotel. The three-story wood frame and stucco structure has 34 rooms that are considered SROs (Single Room Occupancy) as they share common bathrooms. Each floor has 1 or 2 bathrooms as well as a kitchen area for tenants to use. Units are leased furnished with a month-to-month term. There are various value-added opportunities remaining including converting a large recreational room in the basement into additional units potentially as ADUs. The property is being offered at an unheard of 6.23% cap rate and 9.47 GRM with a low cost per unit of $127,911. Please submit all offers as the property is priced to sell immediately.

Price History
10/22/2021 Listed $4,495,000
11/16/2021 4% - $4,350,000

General Features

Interior Features Ceiling Fan(s)
Listing Agent Brent Sprenkle - BRE#01290116
Listing Agent State License 01290116
Lot Size Square Feet 5724
MLS Area 141 - El Segundo
Property Type Residential Income
Senior Community Y/N No
Special Listing Conditions Standard
Status Active
Total Units 34
Zoning ESR3*

Exterior Features

Lot Size Acres 0.13
Lot Size Area 5724
Lot Size Units Square Feet
Number of Buildings 1
Parking Features Uncovered
Total Parking 3

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Income Average in 90245

Price
AVG $2.92M
$4.35M
Visits
AVG 33
21
Year Built
AVG 1921
1912
Walkscore
AVG 74
73
Data Provided by Walkscore ® not using MLS data

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