2826 Willow Place, South Gate, CA 90280

$985,000
Sold Price
$985,000
List Price
$995,000
Closing Date
May 12, 2017
Status
CLOSED
MLS#
CV17057006
Year Built
1929
Lot Size
16,627
Lot Location
6-10 Units/Acre
Days on Market
53
Property Type
Multifamily
Stories
One Level

Property Description

PRIVATE SELLER FINANCING! Potential 9% Market Cash Return! We are pleased to exclusively offer for sale this 7 unit multi-family investment property located in the strong rental market of the city of South Gate. The property is comprised of 3 separate single story structures of which are situated on two adjoining parcels for a total land size of 16,627 SqFt. The 7 rental units are spread amongst two tri-plexes (Six-1Bed/1Bath Units) and 1 cottage style unit (2Bed/1Bath.) All units are separately metered for electricity and gas while the owner pays for water and trash. Tenants enjoy onsite garage parking and there is a laundry room onsite which is not currently being utilized. All tenants are long term and the current owner has kept the rental rates significantly below market level. The property is in need of some minor repair, but a new investor can take advantage of this value-add opportunity and increase the rental rates by as much as 45% from what is currently being collected. The seller will provide private financing with the following terms: 25% down payment, at 4.5% interest only monthly payments, for a 5 year term or less, with no pre-payment penalty. Excellent opportunity for any investor looking for a "fixer-upper."

Additional Information

Tract Number
15186
Lot Description
Gutters, Sidewalks, Storm Drains, Street Lighting
Pool Description
None
Garage Spaces Total
7
Water
Public

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Does not include any taxes or fees.
Please consult a financial professional.

Listing courtesy of RE/MAX 2000. Selling Office: .

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.