8994 Mcnerney Avenue, South Gate, CA 90280
Property · 2 recorded sales since 2019
Sold January 2024
Listing Agent: Julio Ruiz (DRE #01911261) · Listing Office: Global Platinum Properties, Inc. · Contact: 424-394-1030 · Bought with: Cary Tong · VISMAR REAL ESTATE · MLS #23338290 · Source: CRMLS
About this property
Incredible Non-Rent Control 4-unit Investment or Owner-User opportunity (1 Vacant) cash flowing at an amazing 6% Cap Rate and 12.1 GRM from Day 1! All 4 units have been completely stripped down to the studs, renovated with permits, and include brand new roofs, electrical systems, copper plumbing, windows, cabinets, flooring, lighting fixtures, bathrooms, and kitchens. Plus washer/dryer hookups in all units, new water heaters as well as HVAC systems. Additional Upside to 6.9% Cap Rate and 10.8 GRM on proforma. Non-Rent Control area allowing for 8.8% annual increases (5% + CPI). The property is located in South Gate which is an excellent up-and-coming area close to schools, restaurants, shopping centers, and entertainment options - just blocks from Azalea Shopping Center which hosts Walmart, Starbucks AltaIn-N-Out Fridays Wingstop, and more. It's great to have access to the 710, and 105 freeways which will take you easily to Downtown LA or the beach!
Listing description from the January 2024 sale, as reported to CRMLS.
Sale history
