See Home Value
$9,333,638*
Multifamily - Off Market

7119 E Gage Avenue

Commerce, CA 90040
bedrooms
Studio
bathrooms
0 Bath
$5,760,000 - $7,040,000
Reference Base Price*
45.84%
Since Dec 1, 2019
CA-Los Angeles
Primary Model

About This Property

We are pleased to exclusively offer sale this 40 Unit Multi-Family investment in the city of Commerce. This investment offers a HUGE 50% Upside in Rental Income! No Rent Control! The subject property is consists of two separate 20 unit apartment buildings each with their own APNs. The unit mix is comprised of 1(2Bed/1Bth) manager's unit, 24(1Bed/1Bth)s, 15 (Studios), & 2 non-conforming units both of which are Studio apartments for a total of 42 units. Recent improvements include new copper/pex piping for all units, new exterior paint, and new stairway railings. Tenants enjoy an onsite laundry facility and car-port parking. All utilities are master metered. At only $160,000 per unit, and with a Market CAP Rate of 6.65%, a new investor can take advantage of an aggressive entry price, and as rental rates are stabilized to market level, a significant cash-on-cash return! Majority of tenants are on month to month rental contracts and long term.
Unit Size
-
Days on Market
-
Land Size
26,028.00 acres
Price per sqft
-
Property Type
Multifamily
Property Taxes
-
HOA Dues
-
Year Built
1965

Price History

Date / Event Date Event Price
Nov 28, 2019 No longer available -
No longer available
Nov 26, 2019 Relisted $6,400,000
Relisted
Oct 26, 2019 No longer available -
No longer available
Aug 20, 2019 Relisted $6,400,000
Relisted
Aug 18, 2019 No longer available -
No longer available
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Property Highlights



Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

Past Sales

Date Unit Beds Baths Sqft Price Closed Owner Listed By
20190606
06/06/2019
Studio
-
-
$6,400,000
bedrooms
Studio
bathrooms
-
-
-
-
-

Building Info

7119 East Gage Avenue 7119 East Gage Avenue, Los Angeles, CA 90040
More about this Building
7119 East Gage Avenue
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About Commerce


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