$1,045,000
$1,095,000
4.6%For more information regarding the value of a property, please contact us for a free consultation.
8 Beds
4 Baths
7,243 Sqft Lot
SOLD DATE : 09/16/2024
Key Details
Sold Price $1,045,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV24034760
Sold Date 09/16/24
Bedrooms 8
HOA Y/N No
Lot Size 7,243 Sqft
Property Description
We are pleased to exclusively offer for sale this 4-Unit multi-family investment property in the city of South Gate. The subject property offers one charming 2-bed/1-bath detached cottage, complemented by three additional 2-bed/1-bath units, collectively offering 3,096 square feet of rental space on a generous 7,243 square foot lot. Each unit is thoughtfully designed to maximize space and comfort, ensuring a pleasant living environment for tenants. The property boasts ample onsite parking, including both garage and carport options, addressing a crucial need for urban living, and adding considerable value for tenants. Each unit is separately metered for electricity and gas while the owner pays for water and trash. This arrangement not only limits the investors utility costs, but also encourages conservation among tenants, enhancing the property's appeal. An additional highlight is the onsite laundry room, and although currently closed, presents a lucrative opportunity for added income for the next investor. The property stands out with a remarkable 40% upside in rental rates, signaling great potential for growth in rental income.
We are pleased to exclusively offer for sale this 4-Unit multi-family investment property in the city of South Gate. The subject property offers one charming 2-bed/1-bath detached cottage, complemented by three additional 2-bed/1-bath units, collectively offering 3,096 square feet of rental space on a generous 7,243 square foot lot. Each unit is thoughtfully designed to maximize space and comfort, ensuring a pleasant living environment for tenants. The property boasts ample onsite parking, including both garage and carport options, addressing a crucial need for urban living, and adding considerable value for tenants. Each unit is separately metered for electricity and gas while the owner pays for water and trash. This arrangement not only limits the investors utility costs, but also encourages conservation among tenants, enhancing the property's appeal. An additional highlight is the onsite laundry room, and although currently closed, presents a lucrative opportunity for added income for the next investor. The property stands out with a remarkable 40% upside in rental rates, signaling great potential for growth in rental income.
Location
State CA
County Los Angeles
Area South Gate (90280)
Zoning Assessor
Building
Lot Description Curbs, Sidewalks
Story 2
Lot Size Range 4000-7499 SF
Level or Stories 2 Story
Others
Monthly Total Fees $98
Acceptable Financing Cash
Space Rent $1,642
Listing Terms Cash
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Bought with Kristopher German • RE/MAX 2000 REALTY