1040 W ReeveCompton, CA 90220

Description

Excellent investment opportunity! Property consists of 4 units (2 = 3 beds/1 bath & 2 = 2 beds/1 bath). All units show very well. Units are separately metered and each unit has its own hot water tank. Based on Section 8 payment standards: Rents of $3,098 / month for each 3-bedroom unit and $2,490 / month for each 2-bedroom unit, the property has the potential to generate approximately $11,176 in gross monthly rental income and $134,112 in gross annual rental income. Using estimated operating expenses of 25% of gross rental income ($33,528 annually), the property would project Net Operating Income (NOI) of approximately $100,584 / year. JUST BY RENTING OUT THE VACANT UNIT AT THE PRO FORMA RENT, THE CAP RATE WOULD BE 6.6% MAKING THIS A GREAT INVESTMENT PROPERTY! Property is professionally managed and on month-to-month basis providing Buyer flexibility if they chose to either (a) manage themselves, (b) continue with current manager or (c) use their own manger. Current contract requires 30-Day advance notice to terminate. Centrally located to restaurants, shopping, public transportation, freeway, LAX and New $200 million Compton High School featuring the $10 million Andre "Dr. Dre" Young Performing Arts Center. SOFI Stadium is only 10 miles away!

Property Information

Property type

Residential Income

Sub-type

Quadruplex

Year built

1955

Stories

2

Building area

4,008 Sq Ft

Lot size

0.18 acres

Garage spaces

4

Parking spaces

4

Days on market

7

MLS^® Listing#

OC26204939

Property Features

Pool

None

Parking

Driveway · Garage · On Street

Laundry

None

Community

Sidewalks

Sewer

Public Sewer

Water source

Public

Financial Details

HOA

None

Parcel number

6141012049

Directions

From Alondra Blvd, turn onto S Grandee Ave and follow around to Reeve. The property is the last on the left.