$1,100,000
Estimated Payment$5,195/mo
Multi-Family For Sale
Under Contract

5960 Gifford Avenue, Huntington Park, CA 90255

Multi-Family Home In Huntington Park

Same owner since 1972, well maintained, rents however Well below market value. 3 Units up front with 1 garage and 2 units at rear over 4 individual garages at rear. All units have their own garage. Plenty of additional parking at rear. Wide easy to navigate street with lower density due to no apartments across street. Realistic rents should be $1,500 for the 1 bedrooms and $1,800 for the 2 bedroom. Annual Income at these fair market rents would be $93,600. List price is then 11.8 x Gross Annual income. Cap Rate is a very favorable 5.1% if expenses are estimated at 40% of gross rents. This building will have outstanding cash flow with market rents. Leases are all month to month. Current rents listed are based upon January 2022 rent increases. Front unit is a Hud unit and owner has petitioned to have the $750 rent raised to fair market.

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5960 Gifford Avenue
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Location
5960 Gifford Avenue Huntington Park, CA 90255
Home Details

Listing Details

General

  • Total Number of Units: 5

    Interior Details

    Utilities

    • Heating Details: Natural Gas

      Financial Details

      HOA

      • Association Amenities: Sidewalks, Storm Drains, Street Lights

        Tax Details

        • Zoning: HPR3YY

          Property Details

          Parking

          • Garage: 5 0

            General

            • Water Source(s): Public
            • Lot Features: Level, Rectangular Lot
            • Laundry Features: Common Area

            Location Details

            Region

            • City/Region: 699 Not Defined

              MLS Details

              General

              • Days on Homes.com: 66
              • MLS Number: PW21218596
              • Listed: 10/1/2021
              • Last Updated: 12/1/2021
              • Offered By: John Dumke, Broker
              • Listing Source: California Regional Mls
              Monthly Payment Calculator

              $5,195

              Estimated Mortgage
              Principal & Interest
              $3,710
              Insurance
              $385
              Taxes
              $1,100
              Mortgage Insurance
              $0
              i
              Include PMI: Private Mortgage Insurance (PMI) is required by lenders if the down payment is less than 20% of the home price. It is recommended to include this field if your down payment is less than 20% of the home price.
              i
              If you or your spouse are active or retired military you may be eligible for special VA loan programs for veterans. The VA loan programs include benefits like no down payment and no private mortgage insurance (PMI).
              Price History
              • DateEventPrice
              • 11/08/2021$50,000$1,100,000
                Source: California Regional MLS
              • 10/01/2021listed$1,150,000
                Source: California Regional MLS
              Nearby Schools
              • Fishburn Avenue Elementary
                Class size: 23Distance: 0.21 mi
                C+
              • Chester W Nimitz Middle School
                Class size: 20Distance: 0.29 mi
                C+
              • Bell Senior High
                Class size: 23Distance: 0.86 mi
                B-
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              Listing Agent
              John Dumke
              John Dumke, BrokerLicense # 01030015
              Huntington Park, CA
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              $1,100,000

              5960 Gifford Avenue

              Huntington Park, CA 90255

              John Dumke
              John Dumke, Broker