$1,195,000
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8994 Mcnerney Ave South Gate, CA 90280
4 Beds
4 Baths
2,065 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,065 sqft
Price per Sqft $573
MLS Listing ID 23-338290
Bedrooms 4
Year Built 1948
Lot Size 3,903 Sqft
Property Description
Incredible Non-Rent Control 4-unit Investment or Owner-User opportunity (1 Vacant) cash flowing at an amazing 6% Cap Rate and 12.1 GRM from Day 1! All 4 units have been completely stripped down to the studs, renovated with permits, and include brand new roofs, electrical systems, copper plumbing, windows, cabinets, flooring, lighting fixtures, bathrooms, and kitchens. Plus washer/dryer hookups in all units, new water heaters as well as HVAC systems. Additional Upside to 6.9% Cap Rate and 10.8 GRM on proforma. Non-Rent Control area allowing for 8.8% annual increases (5% + CPI). The property is located in South Gate which is an excellent up-and-coming area close to schools, restaurants, shopping centers, and entertainment options - just blocks from Azalea Shopping Center which hosts Walmart, Starbucks AltaIn-N-Out Fridays Wingstop, and more. It's great to have access to the 710, and 105 freeways which will take you easily to Downtown LA or the beach!
Location
State CA
County Los Angeles
Area Cudahy, South Gate W Of 710, Hunt Pk S Of Florence
Zoning SGR3YY
Rooms
Other Rooms None
Interior
Heating Wall Gas
Cooling Ceiling Fan
Equipment Range/Oven
Exterior
Garage Uncovered, Tandem
Garage Spaces 4.0
Building
Story 2
Others
Special Listing Condition Standard
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The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Bought with VISMAR REAL ESTATE