$1,475,000
$1,475,000
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10 Beds
5 Baths
4,942 SqFt
SOLD DATE : 11/29/2022
Key Details
Sold Price $1,475,000
Property Type Single Family Home
Listing Status Sold
Purchase Type For Sale
Square Footage 4,942 sqft
Price per Sqft $298
MLS Listing ID 22-202251
Sold Date 11/29/22
Bedrooms 10
Year Built 1990
Lot Size 10,247 Sqft
Acres 0.2352
Property Description
We are pleased to present a 5 unit in Commerce being offered for sale (by the original owner) for the first time in almost 33 years! This investment opportunity has an excellent unit mix of oversized 2 bedroom + 1 bathroom in all units. Take advantage of this great chance to own an income property, newly constructed in 1990 sitting on a very large 10,221 square foot lot zoned R3. A new investor would appreciate the strong in-place rents as it brings in 4.35% cap rate on current rents. The opportunity for growth can be seen from different perspectives on this pride-of-ownership property. For decades, the owners have given their time and love into this asset with many recent capital improvement. This truly is a one-of-a-kind trophy investment of its area. Some great features about this location is the two-story layout of the building, balcony for select units, on-site laundry, secured entry, garage parking for all units, separately metered for gas and electricity as a well as water heater for each unit. The property is located within a short Distance to the 5, 60, 101 & 710 Freeways. Don't run away, take advantage of the location as this is considered under the statewide AB1482 rent control of 5% + CPI (which is currently 10%).
Location
State CA
County Los Angeles
Area East La
Zoning 0500 (R3)
Rooms
Other Rooms Shed(s)
Interior
Heating Other
Cooling Wall Unit(s)
Equipment Other
Exterior
Garage Garage
Garage Spaces 12.0
Building
Story 2
Others
Special Listing Condition Standard
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Bought with Remax Commercial and Investment Realty