Property Detail

Description

EXCELLENT INCOME PROPERTY OPPORTUNITY in the heart of South Gate, offered at $1,400,000 with an ABOVE-AVERAGE CAP RATE FOR THE AREA. This property is perfect for 1031 EXCHANGE BUYERS, BUY-AND-HOLD INVESTORS, or OWNER-USERS seeking a multi-unit asset in a HIGH-DEMAND SOUTH GATE RENTAL MARKET. This 4 UNIT INCOME-PRODUCING PROPERTY offers strong IN-PLACE INCOME WITH UPSIDE POTENTIAL. After MARKET RENT ADJUSTMENTS and leasing the OWNER’S UNIT (DELIVERED VACANT), projected gross income is approximately $122,880 ANNUALLY with an estimated 8.7% GROSS CAP RATE. The OWNER’S UNIT WILL BE DELIVERED VACANT, allowing a new owner to RESET RENT TO MARKET, currently estimated at approximately $3,200 PER MONTH. The remaining units offer an OPPORTUNITY TO INCREASE RENTS BY APPROXIMATELY 8%–10%, providing a clear path to INCREASE CASH FLOW after purchase. This property offers flexibility for an OWNER-OCCUPANT LOOKING TO HOUSE-HACK or an INVESTOR SEEKING FULL RENTAL INCOME, with rental proceeds helping OFFSET OWNERSHIP COSTS while positioning the asset for LONG-TERM APPRECIATION. Situated on an OVERSIZED CORNER LOT, the property features a 2-CAR GARAGE PLUS 2-CAR CARPORT, and is located just minutes from SOUTH GATE PARK, AZALEA SHOPPING CENTER, and the 710 & 105 FREEWAYS. BUYER TO VERIFY ALL INCOME, RENTS, UNIT CONFIGURATION, AND PERMITS TO THEIR SATISFACTION.