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."
Listing courtesy of RE/MAX 2000.
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