123 W Alondra Boulevard, Compton, CA 90220
Property
Sold April 2024
Listing Agent: Sean Rosenzweig (DRE #01406343) · Listing Office: Marcus & Millichap · Contact: 310-909-5500 · Bought with: Mike Iryami · BRC Advisors- BH · MLS #23337373 · Source: CRMLS
About this property
We are pleased to offer for sale a six-unit apartment community located at 123 West Alondra Boulevard. The subject property is located on Alondra Boulevard, just west of the Alameda Street intersection within the dense Compton submarket.123 West Alondra is centrally situated for easy access to Compton's essential services. With close proximity to major highways and public transportation, commuting is convenient, offering the perfect balance between city life and tranquility. Situated on a 6,453 square foot parcel, the property is comprised of one-bedroom, two-bedroom & three-bed room units. There is more than 25% rental upside through interior renovations. One unit will be delivered vacant allowing new ownership to immediately renovate and achieve e a market rental rate. The property is being offered at an attractive basis with a 7.05% cap rate on current income. The continued gentrification of the surrounding area along with the remaining value-add potential for a new owner to renovate units and achieve superior future returns moving forward makes 123 West Alondra Boulevard an excellent acquisition opportunity.
Listing description from the April 2024 sale, as reported to CRMLS.
Sale history