9623 San Miguel Avenue, South Gate, CA 90280

9623 San Miguel Avenue, South Gate, CA 90280

South Gate, CA

Property Description

Lyon Stahl is pleased to present this excellent multi-family opportunity at 9623 San Miguel Ave, South Gate, CA. This 4,395 sq ft property is a 3-unit apartment building in the red-hot Southeast LA submarket with NO RENT CONTROL and features a unit mix of (2) 2-bed/1-bath units and (1) 1-bed/1-bath units. The property is also gated and offers 4 parking spaces in the front.

This offering is deal for any investor looking for upside potential. This property is ideally located near 710 and 105 Freeways.

Assigned carport that first two vehicles and two additional parking spaces outside the garage. There is a spacious two car garage that is currently being used as storage. Each unit has its own laundry system.

The area boasts an above average walk score with plenty of transit options available. Just minutes away from the new Azalea shopping centers and South Gate Park. Enjoy shopping down Tweedy Blvd. and dine in the local restaurants. Conveniently located minutes away educational facilities, government facilities, a hospital, and many other important facilities in the area. Nearby parks include Stanford Avenue Park, Lugo Park, and Salt Lake Park. Furthermore, with 57.8% of residents being renters, and a density index of 78, the area boasts a robust rental market. Ranking in the 99th percentile in California in terms of population density and 15th in Median Household Income creates a strong demand for local rentals. Combined with the influx in jobs and commercial opportunities in the area these factors will continue to surge population growth and rental demand.

In this Southeast LA submarket, the combination of low vacancies, health rent growth, below-average prices, and proximity to Downtown has drawn the attention of investors prices out of other parts of LA.

Property Features

  • Sale Price: $624,000
  • Area Size: 1908 SF
  • Land Area: 4395 SF
  • Year Built: 1957
  • Listing Date: 4.7.2020
  • Closing Date: 06/30/2020
  • Units: 3
  • Current GRM: 15.05
  • Current Cap Rate: 3.94%
  • Price Per Unit: $216,667
  • Market GRM: 11.28
  • Market Cap Rate: 6.05%

Lyon Stahl Investment Real Estate

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