Seller's Agent in 2020
Douglas McCauley
MARCUS & MILLICHAP
(909) 456-3493
1 in this area
46 Total Sales
1532 W Compton Blvd Compton, CA 90220
3
Beds
4
Baths
4,812
Sq Ft
0.27
Acres
About This Home
As of August 2020Pro Forma CAP rate of 7.88%. We are pleased to present the opportunity to acquire 1524 & 1532 West Compton Boulevard, a mixed-use apartment and retail investment opportunity located in Compton, California. The property consists of two parcels and includes (5) apartment units and (1) store front retail space. Built in 1941, the five apartment units are contained in four single story buildings and have approximately 3,152 rentable square feet. The units consists of (one) studio/one bathroom, (two) one bedroom/one bathroom and (two) two bedroom/one bathroom floorplans. The property features gated access and open space parking. Constructed in 1947, the retail store front building has approximately 1,660 square feet of rentable space. In addition, the retail unit has high street visibility and features a roll up security door. The combined lot size is 11,688 square feet.
This is a value-add opportunity for an astute investor to lease up the retail space, improve the property condition while increasing the apartment rents yielding a Pro Forma CAP rate of 7.88%. The previous retail tenant who was in the space for approximately 20 years was paying $2,575 per month. We put a conservative retail rent in our underwriting at $2,075 per month.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1941
Lot Details
- 0.27 Acre Lot
- No Units Above
- Two or More Common Walls
- Density is 6-10 Units/Acre
- 6142001016
Home Design
- 4,812 Sq Ft Home
- Property Attached
Bedrooms and Bathrooms
- 3 Bedrooms
- 4 Bathrooms
Listing and Financial Details
- Legal Lot and Block 24 / A
- Tax Tract Number 6627
- Assessor Parcel Number 6142001017
Community Details
Overview
- 4 Buildings
- 6 Units
Building Details
- 6 Separate Electric Meters
- 6 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $816
- Fuel Expense $600
- Gardener Expense $500
- Insurance Expense $3,525
- Maintenance Expense $3,500
- Other Expense $319
- Supplies Expense $885
- Trash Expense $1,200
- Water Sewer Expense $1,816
- New Taxes Expense $16,185
- Operating Expense $29,731
- Gross Income $83,490
- Net Operating Income $27,538
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/24/2020 08/24/20 | Sold | $750,000 | -23.1% | $156 / Sq Ft |
| 07/23/2020 07/23/20 | Pending | -- | -- | -- |
| 11/20/2019 11/20/19 | Price Changed | $975,000 | -2.5% | $203 / Sq Ft |
| 07/26/2019 07/26/19 | For Sale | $1,000,000 | -- | $208 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Douglas McCauley
-
David Covarrubias
Seller Co-Listing Agent in 2020
David Covarrubias
MARCUS & MILLICHAP
(909) 456-3400
1 in this area
48 Total Sales
-
Jaime Rodriguez
J
Buyer's Agent in 2020
Jaime Rodriguez
Big Blue House Real Estate
(213) 445-8719
3 in this area
44 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV19178468
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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