Hawaiian Terrace Senior Apartments Listing Details & Market Data

Hawaiian Gardens is a city in Los Angeles County, California. It is the smallest city in the county in area (approximately 1.0 square miles) and was incorporated on April 9, 1964. The city's unusual name originated with a 1920s refreshment stand that was decorated with palm fronds and bamboo. It was the then-rural area's main landmark for many years, and its name stuck as the small town grew up around it. As one of seven Los Angeles County cities that allow casino gambling, more than $9.2 million (65%) of the city's revenue comes from the Gardens Casino. Some of the top employers in the city of Hawaiian Gardens include the Hawaiian Gardens Casino, ABC Unified School District and the City of Hawaiian GardensMorgan Skenderian is pleased to present the Hawaiian Terrace Senior Apartments, a 101-unit, active adult senior apartment building (for the 55+ community) in the city of Hawaiian Gardens. Built in 1990 and situated on almost 2.5 acres of land, the property is comprised of one- and two-bedroom floor plans. Property amenities include controlled access, laundry facilities, a leasing office, a clubhouse, elevators and an expansive courtyard area. Units are newly renovated and amenities include stainless steel appliances, vinyl plank flooring, ceiling fans, and a private patio or balcony. Driven by an aging population and through the continued modernization of the remaining units and increases on current rent levels that are projected to be approximately 31% below market, the Hawaiian Terrace Senior Apartments is a stand-out for a long-term hold strategy with phenomenal growth potential and exceptional future cash-on-cash returns. Ideally located in the city of Hawaiian Gardens and given its close proximity to Los Alamitos, Long Beach, Cypress and La Palma, residents have access to an endless amount of dining, shopping, and entertainment options. Additionally, the property is located near Highway 39 (Beach Boulevard), State Route 605 (San Gabriel River Freeway) State Route 91 (Riverside Freeway) and State Route 405 (San Diego Freeway), allowing for ease of access to regional employment hubs in Los Angeles and Orange Counties.