9800 Madison Avenue, South Gate, CA 90280
Property · 2 recorded sales since 2020
Sold January 2024
Listing Agent: Joshua Barut (DRE #01971720) · Listing Office: Lyon Stahl Investment Real Estate, Inc. · Contact: 562-457-8126 · Bought with: Ari Gharib · LFA Multifamily Inc. · MLS #SB23163200 · Source: CRMLS
About this property
We are pleased to exclusively offer for sale this 5 unit multi-family investment located in the City of South Gate. The subject property features an outstanding Unit Mix of (1) 2 Bed/2 Bath Front House w/ Garage Parking, (2) 2 Bed/1 Bath Unit(s), and (2) 1 Bed/1 Bath Unit(s) for a total rentable square footage of 3,180 SF. Priced at a 6.07% CAP and 11.08 GRM on Current, In-Place Rents, this offering serves as an excellent opportunity for, not only those coming out of a 1031 Exchange, but for any astute investor looking to generate healthy Day 1 cash flow in a burgeoning submarket. Further, the property – and its tenants – have benefitted from over $200k in Capital Expenditures (CAP X) over the last (2) years, which include consistent upgrades throughout each unit and significant attention to detail on all big ticket items. Each unit is separately metered for gas and electricity, and the landlord is responsible for paying only water and trash. In addition, ownership has implemented an efficient RUBS system as an effective way to offset volatile utility expenses and generate additional income subject to occupancy. This large, 8,559 SF Lot boasts a Walk Score of 88 (“Very Walkable”) and is strategically located just (2) lots down from Madison Elementary School, and within a 1 Mi Radius of (10) other schools in the area. These factors have played a major role in the submarket’s outstanding rent growth and low vacancy rates that have consistently consistently outpaced Los Angeles County as a whole over the last (5) years, and will continue to drive the underlying demographics that forecast a continuance of that trend. There’s a reason that NO other (5+) Unit APT buildings have sold within a 0.5 mi radius over the past calendar year.
Listing description from the January 2024 sale, as reported to CRMLS.
Sale history
