$1,143,000
$1,250,000
8.6%For more information regarding the value of a property, please contact us for a free consultation.
8,829 Sqft Lot
SOLD DATE : 07/12/2019
Key Details
Sold Price $1,143,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Not Applicable-105
MLS Listing ID 319001315
Sold Date 07/12/19
HOA Y/N No
Year Built 1958
Annual Tax Amount $11,730
Lot Size 8,829 Sqft
Property Description
Come check out this great 5-unit cash flowing property in the city of Lynwood! The building consists of one 3 beds 2 bath unit, and four 2 bed 1 bath units. Its located on a side street by bustling Long Beach Boulevard and offers up an enticing list of must-haves for any real estate investor, new or seasoned. This multifamily property is conveniently situated within walking distance to all major eateries, health centers, bus stops, businesses, and elementary/high schools. In addition to the abundance of convenient benefits provided by its location, your tenants will be able to enjoy substantial off-street parking as well. All tenants are currently on month-to-month leases that gross $96,000 annually; therefore, investors looking for healthy cash flow with upside potential will most certainly want to take advantage of this investment opportunity, with the property having an actual gross monthly income of $8,000. Currently, Lynwood is free of rent control and current rents have been in place for over 14 months. The healthy mix of three and two-bedroom units allows for fewer turnovers, minimizing the expenses necessary to operate the investment. DO NOT disturb tenants.
Location
State CA
County Los Angeles
Area Rm - Lynwood
Zoning LYR3YY
Interior
Flooring Carpet, Wood
Fireplace No
Exterior
Garage Carport, One Space
View Y/N No
Private Pool No
Building
Lot Description Front Yard
Entry Level One,Two
Level or Stories One, Two
New Construction No
Others
Tax ID 6191007005
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Financing Conventional
Special Listing Condition Standard
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Bought with Ali Nahle • NextHome Luxe Group