3382 Norton Avenue, Lynwood, CA 90262
Property · 2 recorded sales since 2012
Sold July 2019
Listing Agent: Ali Nahle (DRE #01988178) · Listing Office: NextHome Luxe Group · Contact: 818-650-2530 · Bought with: Ali Nahle · NextHome Luxe Group · MLS #319001315 · Source: CRMLS
About this property
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.
Listing description from the July 2019 sale, as reported to CRMLS.
Sale history
