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$ 1,128,000
Est. payment /mo
New
1024 W Reeve Compton, CA 90220
10 Beds
4 Baths
9,218 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID RS26151216
Bedrooms 10
Lot Size 9,218 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Excellent investment opportunity in Compton! 1024 W. Reeve St. is a four-unit residential income property featuring two 3-bedroom, 1-bath units and two 2-bedroom, 1-bath units. The property is being delivered 100% vacant and rent-ready, allowing the new owner to immediately lease the units, select their own tenants, and establish new rental income. Based on projected Section 8 rents of $3,098 per month for each 3-bedroom unit and $2,490 per 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 has a projected Net Operating Income (NOI) of approximately $100,584 per year. Offered at $1,128,000, the property provides an estimated 8.9% capitalization rate based on projected rents and estimated operating expenses of 25%, presenting a compelling opportunity for investors seeking strong income potential and long-term cash flow. Cap rate %8.9 Conveniently located near shopping, schools, public transportation, and major freeways. With all four units delivered vacant and rent-ready, the property offers an investor the opportunity to immediately begin leasing the units and maximizing its income potential.
Location
State CA
County Los Angeles
Zoning Estimated
Direction Alondra Blvd/ Wilmington Blvd
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 6141012051
Listed by Mark Perez, DRE#01279393 Circle Real Estate