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Key Details
Sold Price $1,225,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 6,088 sqft
Price per Sqft $201
MLS Listing ID 23293805
Sold Date 11/02/23
Bedrooms 13
HOA Y/N No
Year Built 1959
Lot Size 0.253 Acres
Property Description
Mixed-Use Investment Opportunity - 2 Retail Stores + 6 Apartment Units | 10.30% Pro-Forma Cap Rate & 6.74 Pro-Forma GRM | 5.87% Current Cap Rate & 9.85 Current GRM | 6,088-SF of Rentable SF* on a Large 11,016-SF Lot | Value-Add Investment - Opportunity for Investor to Lease Retails Spaces to New Tenants at Market Rate | Most Units Contain Individual Hot Water Heaters & Washer/Dryer Hook-Ups | Apartment Units Comprised of (Two) 3-Bedroom/1-Bathroom Units, (Three) 2-Bedroom/1-Bathroom Units & (One) 1-Bedroom/1-Bathroom Units | No Local Rent Control - Defaults to AB 1482 | Retail Stores Consists of 1,338 SF | Located on a Major Thoroughfare of South Gate | Great Frontage for Retail Stores on Paramount Boulevard | High Visibility & Heavily Trafficked - Over 33,840 Vehicles Per Day
Location
State CA
County Los Angeles
Area Rl - Paramount North Of Somerset
Zoning SGC3*
Interior
Fireplace No
Exterior
Parking Features Driveway, Uncovered
Total Parking Spaces 6
Building
Story 1
New Construction No
Others
Senior Community No
Tax ID 6264006004
Special Listing Condition Standard
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Bought with Jonathan Nikfarjam • Shield CRE, Inc.
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