7119 E Gage Avenue, City Of Commerce

$6,400,000

0 Beds
0 Baths
17,948 Sqft
26,028 Lot Sqft
0 Garages

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 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.)

Essential Information
MLS® #CV19133526
Price$6,400,000
Bathrooms0.00
Square Footage17,948
Lot Sqft26,028
Acres0.60
Year Built1965
TypeResidential Income
StatusActive
No of Units40
Community Information
Address7119 E Gage Avenue
AreaWrigley Area (5)
CityCity Of Commerce
CountyLos Angeles
StateCA
Zip Code90040
Amenities
Parking Spaces40
Interior
HeatingWall Heater
StoriesTwo
Lot Description

36-40 Units/Acre, Lot 20000-39999 Sqft

Additional Information
Date ListedJune 6th, 2019
Days on Market134
ZoningR3
Listing Details
AgentKristopher German(01800021)
OfficeRE/MAX 2000
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Based on information from California Regional Multiple Listing Service, Inc. as of October 19th, 2019 at 5:12pm CDT. 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.

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