South Gate, CA 90280,8994 Mcnerney AVE
South Gate, CA 90280,8994 Mcnerney AVE
South Gate, CA 90280,8994 Mcnerney AVE
23
$1,185,000
$1,195,000
0.8%
Est.Price: ?

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4 BD
4 BA
2,065 SqFt

8994 Mcnerney AVE South Gate, CA 90280

Est. payment /mo
SOLD DATE : 01/26/2024

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Key Details

Sold Price $1,185,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 2,065 sqft

Price per Sqft $573

MLS Listing ID 23338290

Sold Date 01/26/24

Bedrooms 4

HOA Y/N No

Year Built 1948

Lot Size 3,902 Sqft

Property Description

Incredible Non-Rent Control 4-unit Investment or Owner-User opportunity (1 Vacant) cash flowing at an amazing 6% Cap Rate and 12.1 GRM from Day 1! All 4 units have been completely stripped down to the studs, renovated with permits, and include brand new roofs, electrical systems, copper plumbing, windows, cabinets, flooring, lighting fixtures, bathrooms, and kitchens. Plus washer/dryer hookups in all units, new water heaters as well as HVAC systems. Additional Upside to 6.9% Cap Rate and 10.8 GRM on proforma. Non-Rent Control area allowing for 8.8% annual increases (5% + CPI). The property is located in South Gate which is an excellent up-and-coming area close to schools, restaurants, shopping centers, and entertainment options - just blocks from Azalea Shopping Center which hosts Walmart, Starbucks AltaIn-N-Out Fridays Wingstop, and more. It's great to have access to the 710, and 105 freeways which will take you easily to Downtown LA or the beach!

Location

State CA

County Los Angeles

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

Zoning SGR3YY

Interior

Fireplace No

Exterior

Parking Features Garage, Tandem, Uncovered

Total Parking Spaces 4

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 6216029005

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Julio Ruiz • Global Platinum Properties, Inc.
Bought with Cary Tong • VISMAR REAL ESTATE

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Kelly Corsino

Agent | License ID: 01704102

+1(949) 229-0019

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