8994 Mcnerney Avenue, South Gate, CA 90280
- $1,195,000
- 4
- BD
- 4
- BA
- 2,065
- SqFt
- List Price
- $1,195,000
- Status
- ACTIVE
- MLS#
- 23311053
- Year Built
- 1948
- Bedrooms
- 4
- Bathrooms
- 4
- Living Sq. Ft
- 2,065
- Lot Size
- 3,903
- Acres
- 0.09
- Days on Market
- 10
- Property Type
- Multifamily
- Stories
- Two Levels
Property Description
Incredible Non-Rent Control 4-unit Investment or Owner-User opportunity cash flowing at an amazing 5.6% Cap Rate and 12.6 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 6.2% Cap Rate and 11.9 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!
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Additional Information
- Attached Structure
- Detached
- Number Of Units Total
- 4
Listing courtesy of Listing Agent: Armin Soleimani (arminsoleimani@gmail.com) from Listing Office: Global Platinum Properties, Inc..
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.