1040 W ReeveCompton, CA 90220
Los Angeles County
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
- 3
- 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.
Listing Courtesy: Compass - 714-469-6238
Presented by: Andrew Youngmark
Licensed in the state of California.
Compton Market Statistics
How this home compares to 105 active listings in Compton, CA
| Compton median | This listing | |
|---|---|---|
| Median listing price | $688,679 | $1,300,000 |
| Median days on market | 54 | 3 |
| Median Sq Ft | 1,271 | 4,008 |
| Median price / Sq Ft | $518 | $324 |
Market statistics compiled from active EXIT Realty® and MLS listings in Compton, CA.
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Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 15328 S San Pedro Street, Gardena, CA | $1,390,000 | 4 | 4 | 2,450 |
| 124 W Rosecrans Ave, Compton, CA | $1,250,000 | — | — | 3,332 |
| 204 N Spring Avenue, Compton, CA | $1,195,000 | 12 | 6 | 2,856 |
| 1111 ST N Mulberry, Compton, CA | $1,395,000 | — | — | 4,027 |
