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Listed by Andrew Youngmark, DRE #01454228 • Compass
$1,300,000
Est. payment /mo
7,816 Sqft Lot
New
1040 W Reeve Compton, CA 90220
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Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CROC26204939
Year Built 1955
Lot Size 7,816 Sqft
Property Sub-Type Fourplex
Source California Regional MLS
Property Description
Excellent investment opportunity! Property consists of 4 units (2 = 3 beds/1 bath & 2 = 2 beds/1 bath). All units show very well. Units are separately metered and each unit has its own hot water tank. Based on Section 8 payment standards: Rents of $3,098 / month for each 3-bedroom unit and $2,490 / month for each 2-bedroom unit, the property has the potential to generate approximately $11,176 in gross monthly rental income and $134,112 in gross annual rental income. Using estimated operating expenses of 25% of gross rental income ($33,528 annually), the property would project Net Operating Income (NOI) of approximately $100,584 / year. JUST BY RENTING OUT THE VACANT UNIT AT THE PRO FORMA RENT, THE CAP RATE WOULD BE 6.6% MAKING THIS A GREAT INVESTMENT PROPERTY! Property is professionally managed and on month-to-month basis providing Buyer flexibility if they chose to either (a) manage themselves, (b) continue with current manager or (c) use their own manger. Current contract requires 30-Day advance notice to terminate. Centrally located to restaurants, shopping, public transportation, freeway, LAX and New $200 million Compton High School featuring the $10 million Andre "Dr. Dre" Young Performing Arts Center. SOFI Stadium is only 10 miles away!
Location
State CA
County Los Angeles
Area Rp - Compton S Of Rosecrans, E Of Central, W Of Ala
Interior
Laundry None
Exterior
Parking Features Garage, Off-Street Parking, Other
Garage Spaces 4.0
Pool None
Building
Water District - Public
Others
Tax ID 6141012049
Special Listing Condition Not Applicable
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