$799,000
Trust Sale priced to sell. Rare opportunity to acquire a 7 unit multifamily asset in Compton at an aggressive entry basis. Distressed value add opportunity ideal for experienced investors seeking significant upside through renovation and repositioning. Property to be sold AS IS with buyer to assume existing tenancies. Currently 5 of 7 units are occupied, providing in place income with immediate upside through lease up and rental increases. Rents are significantly below market, currently ranging from approximately $500 to $650 per month. Unit mix consists of two 2 bedroom 1 bath units and five 1 bedroom 1 bath units, all with one car garages. Based on projected post renovation performance, the property may support approximately $168,000 in gross scheduled income and a stabilized value in the $1.5M to $1.7M range. Offered at approximately $107,000 per unit and an estimated 4.5 GRM on pro forma. Seller to provide available estoppels and disclosures. Some occupants have indicated possible willingness to relocate however no guarantees are made and buyer to independently verify all tenancy matters. Listing agents will not participate in tenant negotiations. Ideal for cash or well capitalized investors comfortable with renovation, vacancy and repositioning. Conveniently located near major freeways transportation corridors and local amenities supporting long term rental demand. All rental figures are pro forma estimates based on post renovation potential and do not represent current actual rents. All information is deemed reliable but not guaranteed may be inaccurate or incomplete and is subject to buyer verification.
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Listed by Enrique Vasquez-Plaza with Century 21 Masters (800) 463-0977
Property Type
Apartment
Status
Active
MLS Number
CV26053100
Year Built
1955
Lot Size
8,198 sq ft