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$ 849,999
Est. payment | /mo
2,052 SqFt
$ 849,999
Est. payment | /mo
2,052 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 2,052 sqft
Price per Sqft $414
MLS Listing ID CL26767937
HOA Y/N No
Year Built 1927
Lot Size 4,162 Sqft
Acres 0.0955
Property Sub-Type Other
Property Description
This well maintained 5 unit, mixed use property is the perfect entry level commercial investment. Featuring (4) One bedroom, one bathroom units (1) small retail unit and (2) oversized, fully-gated one car driveways. With one being at each end of the property. This property is uniquely located on a wide, corner lot, consisting of two detached buildings, making the retail unit and 4 residential units entirely separate. This offers both prime frontage for the retail unit along side a sense of privacy for the residential units. The retail unit was once a to-go, food business, then a snack stand and is currently used as storage. The commercial retail unit and (1) residential unit will be delivered vacant; offering access to immediate upside in rents. The Watts area is under rapid re-development including recent building of Freedom Plaza to compliment the rebuilding 100s of new units at the Jordan Downs Housing Complex. The nearby Nickerson Gardens and Imperial Courts are slated for similar development as well, furthering the economic activity in the area and providing much needed housing. Located just minutes away from Downtown Los Angeles with close proximity to 105, 110, 710 and 605 Freeways; making it ideal for transit to area employers and attractions. Contact me today to set up your showings or with any questions! With two units delivered vacant, you can easily achieve a near 8.5% cap rate and a 9.5 GRM to CASH FLOW! Additionally, the adjacent property at 11003 Compton Ave is listed for sale at the same time, offering the chance to assemble both properties. See MLS Listing #26665505 for more information.
Location
State CA
County Los Angeles
Zoning LAR2
Interior
Heating Forced Air, Wall Furnace
Cooling None
Flooring Laminate
Fireplace No
Laundry No Hookups
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 6070008015
Virtual Tour https://www.zillow.com/view-imx/fe0032dd-897b-4fd5-9bc8-d02eb4d314e2?setAttribution=mls&wl=true&initialViewType=pano&utm_source=dashboard
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Listed by Zachary Grant • Real Broker
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Patrick Nagel
REALTOR® | Lic# 1760790