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$2,500,000
Est. payment /mo
16 Beds
15 Baths
10,209 SqFt
UPDATED:
12/05/2024 05:26 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 10,209 sqft
Price per Sqft $244
MLS Listing ID 24460525
Bedrooms 16
HOA Y/N No
Year Built 1963
Lot Size 0.259 Acres
Property Description
We are pleased to offer 2201 E Compton Blvd, a 15-unit multifamily property in the city of Compton, CA. This two-story, secured, and gated courtyard-style building offers a strong unit mix, comprised of fourteen (14) one-bedroom/one-bath units and one (1) two-bedroom/one-bath units. Built in 1963, the property boasts 10,209 rentable square feet on an 11,297 square foot lot with 14 single-car garages for tenant convenience. Additionally, the property falls under AB-1482, California's statewide rent control, allowing annual increases of 5% plus CPI. Currently, the property operates with no subsidized tenants and offers 25% rental upside potential without the need for any subsidy programs. However, additional upside can be realized by tapping into subsidies like the Housing Choice Voucher (HCV) Program, with maximum voucher amounts reaching $1,921 for 1-bedroom units and $2,222 for 2-bedroom units, while ensuring smooth rent collection. Whether you choose to maintain the property's current operations or tap into subsidy programs to maximize returns while streamlining rent collection, this asset presents an opportunity to acquire a well position property in one of Compton's most densely populated areas with significant upside and long-term growth.
Location
State CA
County Los Angeles
Area Ro - Compton S Of Rosecrans, E Of Alameda
Zoning CORL*
Interior
Fireplace No
Laundry None
Exterior
Parking Features Assigned, Door-Single, Garage
Garage Spaces 14.0
Garage Description 14.0
Total Parking Spaces 14
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 6183018029
Special Listing Condition Standard
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Listed by Kamfar Kyle Mirrafati • Matthews Real Estate Investment Services
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Tracy Thrower Conyers
Broker Associate, JD | License ID: 01712960
Broker Associate, JD License ID: 01712960