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Map
$9,333,638*
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Multifamily -
Off Market
7119 E Gage Avenue
Commerce, CA 90040
Studio
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
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
06/06/2019
|
|
Studio
|
-
|
-
|
$6,400,000
Studio
-
|
-
-
|
-
|
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|