Property Description

Located on the SE corner, this newly constructed multi-unit property in Lakewood offers an ideal blend of versatility, space, and modern living. This fully permitted high-quality, new construction build consists of 3 new dwellings on a 5, 364 SF Corner Lot. The main residence was completely rebuilt from the studs up and includes a total of 3 bathrooms and 3 bedrooms in a two-story dwelling (one bedroom and bathroom are located on the ground floor level) in 1,353 livable square feet. The remaining two ADUs (Accessory Dwelling Units) are adjacent. Each ADU is a self-contained structure with 3 bedrooms and 2 bathrooms, spanning 1, 047 LSF. These units are complete with a full kitchen, dining/living areas, and a separate enclosure for stackable laundry appliances. ADU #1 is a ground-level unit with a covered front porch (102 sq ft not included in total), while ADU #2 occupies the second floor and includes a private balcony (80 sq ft not included). With 9-foot ceilings throughout, all units feel spacious. There are no shared walls. Other new features include high-quality waterproof luxury vinyl plank flooring, new insulation, 5/8â drywall, new stucco, new dual-pane windows, a new roof, new copper plumbing, and new fixtures in all bathrooms and kitchens, with on-demand tankless water heaters, and new electrical systems, including multi-zoned HVAC for indoor climate control. New quartz countertops and genuine travertine tiles in the bathrooms, with new stainless steel appliances and quartz countertops in all kitchen areas. Decorative wrought iron custom hand railings are used throughout. The front driveway provides 3 large parking spaces on-site, and ample street parking is available. The main residence includes a new fence enclosing a private side yard area with newly laid sod. Additional new landscaping is provided in the front yard, including the parkway, supported by a newly installed automatic timed irrigation system. The area features Marathon Sod, custom-designed planters with flowers and ferns, and two large fruit-bearing citrus trees. ADU Investors will enjoy strong pro forma cash flow potential with a pro forma GRM of 13 or better, with room for future annual appreciation for long-term capital gains. All water, gas, and electric utilities are separately metered for ease of management. This triplex Property is also an excellent solution for extended families that prefer living together nearby for childcare or elder care reasons.

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Kelly Conley

eXp Realty of California, Inc.