South Gate, CA 90280,9800 Madison AVE
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South Gate, CA 90280,9800 Madison AVE
South Gate, CA 90280,9800 Madison AVE
South Gate, CA 90280,9800 Madison AVE
South Gate, CA 90280,9800 Madison AVE

$1,330,000

Est. payment /mo

$1,330,000

Est.Price: ?

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9800 Madison AVE South Gate, CA 90280

3,180 SqFt

SOLD DATE : 01/18/2024

Key Details

Sold Price $1,330,000

Property Type Multi-Family

Sub Type Mixed Use

Listing Status Sold

Purchase Type For Sale

Square Footage 3,180 sqft

Price per Sqft $418

MLS Listing ID SB23163200

Sold Date 01/18/24

HOA Y/N No

Year Built 1946

Lot Size 8,559 Sqft

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.

Location

State CA

County Los Angeles

Area T2 - Cudahy, Southgate W Of 710, Huntpk S Of Flore

Zoning SGR3*

Rooms

Ensuite Laundry Washer Hookup, Gas Dryer Hookup

Interior

Laundry Location Washer Hookup,Gas Dryer Hookup

Fireplace No

Laundry Washer Hookup, Gas Dryer Hookup

Exterior

Garage Door-Single, Garage Faces Front, Garage, On Site, Private, One Space, Side By Side

Garage Spaces 1.0

Garage Description 1.0

Pool None

Community Features Street Lights, Sidewalks

Parking Type Door-Single, Garage Faces Front, Garage, On Site, Private, One Space, Side By Side

Total Parking Spaces 7

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 1

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 6206027006

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Financing Conventional

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Joshua Barut • Lyon Stahl Investment Real Estate, Inc. • 562-457-8126
Bought with Ari Gharib • LFA Multifamily Inc.

Jacqueline Screeton

Agent | License ID: 01858560

+1(949) 395-4732

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