9800 Madison Avenue, South Gate, CA 90280

$1,330,000
Sold Price
$1,330,000
List Price
$1,330,000
Closing Date
Jan 18, 2024
Status
CLOSED
MLS#
SB23163200
Year Built
1946
Lot Size
8,559
Acres
0.20
Lot Location
0-1 Unit/Acre
Days on Market
53
Property Type
Multifamily
Property Sub Type
Mixed Use
Stories
One Level

Property Description

We are pleased to exclusively offer for sale this 5 unit multi-family investment located in the City of South Gate. The subject property features an outstanding Unit Mix of (1) 2 Bed/2 Bath Front House w/ Garage Parking, (2) 2 Bed/1 Bath Unit(s), and (2) 1 Bed/1 Bath Unit(s) for a total rentable square footage of 3,180 SF. Priced at a 6.07% CAP and 11.08 GRM on Current, In-Place Rents, this offering serves as an excellent opportunity for, not only those coming out of a 1031 Exchange, but for any astute investor looking to generate healthy Day 1 cash flow in a burgeoning submarket. Further, the property – and its tenants – have benefitted from over $200k in Capital Expenditures (CAP X) over the last (2) years, which include consistent upgrades throughout each unit and significant attention to detail on all big ticket items. Each unit is separately metered for gas and electricity, and the landlord is responsible for paying only water and trash. In addition, ownership has implemented an efficient RUBS system as an effective way to offset volatile utility expenses and generate additional income subject to occupancy. This large, 8,559 SF Lot boasts a Walk Score of 88 (“Very Walkable”) and is strategically located just (2) lots down from Madison Elementary School, and within a 1 Mi Radius of (10) other schools in the area. These factors have played a major role in the submarket’s outstanding rent growth and low vacancy rates that have consistently consistently outpaced Los Angeles County as a whole over the last (5) years, and will continue to drive the underlying demographics that forecast a continuance of that trend. There’s a reason that NO other (5+) Unit APT buildings have sold within a 0.5 mi radius over the past calendar year.

Additional Information

Pool Description
None
Garage Spaces Total
1
Sewer
Public Sewer
Water
Public
Attached Structure
Detached
Number Of Units Total
5
Gross Scheduled Income
$118,895
Operating Expense
33173

Listing courtesy of Listing Agent: Joshua Barut (Josh.Barut@LyonStahl.com) from Listing Office: Lyon Stahl Investment Real Estate, Inc..

Listing sold by Ari Gharib from LFA Multifamily Inc.

Mortgage Calculator

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Calculator source: Real Geeks

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.