South Gate, CA 90280,8994 Mcnerney AVE
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South Gate, CA 90280,8994 Mcnerney AVE
South Gate, CA 90280,8994 Mcnerney AVE
South Gate, CA 90280,8994 Mcnerney AVE
South Gate, CA 90280,8994 Mcnerney AVE

$1,195,000

Est. payment /mo
Est.Price: ?

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8994 Mcnerney AVE South Gate, CA 90280

4 Beds

4 Baths

2,065 SqFt

SOLD DATE : 01/26/2024

Key Details

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 2,065 sqft

Price per Sqft $573

MLS Listing ID 23338290

Bedrooms 4

Year Built 1948

Lot Size 3,902 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 T2 - Cudahy, Southgate W Of 710, Huntpk S Of Flore

Zoning SGR3YY

Exterior

Garage Garage, Tandem, Uncovered

Building

Story 2

New Construction No

Others

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Julio Ruiz • Global Platinum Properties, Inc.
Bought with Cary Tong • VISMAR REAL ESTATE

Scott Goshorn

Director- Luxury Estates | License ID: 01964409

+1(323) 251-5479

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