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7119-7125 E Gage Ave
Los Angeles, CA 90040
NO RENT CONTROL! Only $160,000 Per Unit! · Multifamily Property For Sale
·
40 Units
PROPERTY FACTS
| No. Units | 40 | Lot Size | 0.60 AC |
| Property Type | Multifamily | Building Size | 35,642 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1965 |
| Building Class | C | Parking Ratio | 2.22/1,000 SF |
| Zoning | R3 - Multiple Dwelling | ||
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.60 AC |
| Building Size | 35,642 SF |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 2.22/1,000 SF |
| Zoning | R3 - Multiple Dwelling |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Detector
ABOUT 7119-7125 E GAGE AVE , LOS ANGELES, CA 90040
Kristopher German of RE/MAX Commercial is 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 consists of two separate 20 unit apartment buildings each with their own APNs (7125 E. Gage included in sale.) The unit mix is comprised of 1(2Bed/1Bth) extra large 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. Offered at only $160,000 per unit, and with a Market CAP Rate of 6.65%, a new investor can take advantage of an attractive entry price, and as rental rates are stabilized to market level, a significant cash-on-cash return! (The vast majority of the tenants are long term and on month-to-month rental contracts.)
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 1 | $1,600 | - |
| 1+1 | 24 | $1,034 | - |
| Studios | 15 | $925.00 | - |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $3,904,313 | |
| Land Assessment | $1,115,512 | Total Assessment | $5,019,825 |
PROPERTY TAXES
