South Gate Real Estate Search

South Gate Multi-Family Properties for Sale

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Newest South Gate Multi-Family Homes for Sale

SB23163200 MLS Active Status
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 5.65% CAP and 11.80 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 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.

9800 Madison Avenue, South Gate

PW23109776 MLS Active Under Contract Status
We are pleased to present 10900 Lillian Lane, an 8 unit existing mulifamily property with further development potential located on a massive 25,737 square foot lot. Zoned CDR2 within the City of South Gate, this allows for mixed or single use development of multifamily of up to four stories (50 feet), with bonus allowances of up to five stories. (60 feet). The current density minimum for a building of this zoning is 21 unit per acre, a maximum of 32 units per acre, and a maximum/w bonus of 85 units per acre. Standard setbacks for this site are going to be 10 feet away from the existing building and 10 feet from the street. Lillian Lane is located on the east side of the 710 and is within one block of the city of Downey. Residents of Lillian Lane benefit being in the city of Downey School district. The current layout of the property are two identical triplex's contiguous of each other consisting of all one bedroom units. South of the property are two detached houses consisting of a 930 Square foot 2 bed/1 bath stand alone house, and a 1,917 square foot 3 bed/2 bath house. To the south of this is a detached gazebo structure, a two car detached garage, and a small stand alone structure. This part of the lot could be utilized for further development detailed in the development opportunities section. The current rents are substantially below market. A new investor has a few options including renovating current buildings and raising rents to market, demolishing the entire building and building a larger single structure, or keeping the existing building and building additional units in the rear of the property.

10900 Lillian Lane, South Gate

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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.