NOT LISTED FOR SALE

8924 Mcnerney Ave South Gate, CA 90280

Estimated Value: $895,000 - $1,095,180

4 Beds
4 Baths
2,342 Sq Ft
$417/Sq Ft Est. Value

Sale Details

Date Sold: January 26, 2018

Last sale price $680,000 $290 Per Sq Ft

Est. 44% increase in value since last sale

Current estimated payment $6,121 / mo

21 Days on Market

Highlights

  • All Bedrooms Downstairs
  • Lawn
  • Cooling System Mounted To A Wall/Window
  • Fireplace in Bathroom
  • No HOA
  • Landscaped

About This Home

As of January 2018

Great Investment opportunity for someone looking for residential income producing property in the beautiful city of South Gate. Fabulous Four-plex property sits on a large lot, All four units consist of one bed/one bath each. All 4 units have a separate gas and electric meter. Each unit has their very own garage. Two of the units have washer and dryer hookup; Nicely landscaped front and backyard with Sprinkler system. There is also a large bonus room in back! The units are well maintained with many upgrades, close to South Gate Park, which has a Skate Park, Soccer and Baseball Fields, Olympic size Swimming Pool and a Par-3 Golf Course! This is a Gem of an Investment property in a Neighborhood with no rent control. Investors do not let this opportunity go!!

Last Agent to Sell the Property

Irma Salgado

CBM Real Estate License #01901858 Listed on: 05/22/2017

Last Buyer's Agent

Moises Carlos

Escala Realty Group License #01849964

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1928

Lot Details

  • 7,785 Sq Ft Lot
  • Two or More Common Walls
  • Wrought Iron Fence
  • Landscaped
  • Front and Back Yard Sprinklers
  • Lawn
  • Back and Front Yard

Parking

  • 4 Car Garage
  • 2 Open Parking Spaces
  • Parking Available

Home Design

  • Property Attached
  • Raised Foundation
  • Asphalt Roof
  • Stucco

Interior Spaces

  • 2,342 Sq Ft Home
  • Living Room with Fireplace
  • Laundry in unit

Kitchen

  • Gas Range
  • Fireplace in Kitchen

Flooring

  • Carpet
  • Laminate

Bedrooms and Bathrooms

  • 4 Bedrooms
  • All Bedrooms Down
  • 4 Bathrooms
  • Fireplace in Bathroom

Outdoor Features

  • Exterior Lighting

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 6768
  • Tax Tract Number 6666
  • Assessor Parcel Number 6216028006

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 4 Units

Building Details

  • 4 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • Insurance Expense $1,700
  • Trash Expense $240
  • Water Sewer Expense $1,680
  • New Taxes Expense $8,212
  • Operating Expense $11,833
  • Gross Income $3,200
  • Net Operating Income $26,568

Property Details

Home Type

Multi-Family

Year Built

Built in 1928

Lot Details

7,785 Sq Ft Lot

Parking

4

Listing Details

  • Inclusions: Tool shed
  • Property Attached: Yes
  • Water Sewer Expenses: 1680.00
  • Zoning: SGR3YY
  • Property Type: Residential Income
  • Parcel Number: 6216028006
  • Year Built: 1928
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Laminate
  • Appliances: Yes
  • Fireplace Features: Bath, Kitchen, Living Room
  • Price Per Square Foot: 290.35
  • Room Type: All Bedrooms Down

Exterior Features

  • Foundation: Raised
  • Fence: Yes
  • Fencing: Wrought Iron
  • Pool Private: No
  • Roof: Asphalt
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Garage
  • Total Parking Spaces: 6.00
  • Uncovered Spaces: 2.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Range
  • Heating Type: Wall Furnace
  • Sewer: Public Sewer
  • Trash Expense: 240.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Back Yard, Front Yard, Landscaped, Lawn, Sprinkler System, Sprinklers In Front, Sprinklers In Rear
  • Lot Size Sq Ft: 7785.00

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 3200.00
  • Gross Scheduled Income: 38400.00
  • Insurance Expense: 1700.00
  • Net Operating Income: 26567.52
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 986.04
  • Rent Control: No
  • Total Actual Rent: 3200.00
  • Total Expenses: 11832.50

Tax Info

  • New Taxes Expense: 8212.00
  • Tax Census Tract: 5360.00
  • Tax Lot: 6768
  • Tax Tract Number: 6666

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Closed on
Jul 3, 2017
Sold by
Bought by
Current Estimated Value
$976,295

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$510,000
Interest Rate
3.93%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 1, 1994
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$171,500
Interest Rate
8.78%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$680,000 First American Title Company
-- Chicago Title Company
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Previous Owner $510,000
Previous Owner $171,500
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
01/26/2018 01/26/18 Sold $680,000 -12.3% $290 / Sq Ft
06/12/2017 06/12/17 Pending -- -- --
05/28/2017 05/28/17 Price Changed $775,000 +18.0% $331 / Sq Ft
05/22/2017 05/22/17 For Sale $657,000 -- $281 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $10,299 $773,718 $502,918 $270,800
2024 $10,033 $758,548 $493,057 $265,491
2023 $9,861 $743,676 $483,390 $260,286
2022 $9,392 $729,095 $473,912 $255,183
2021 $9,282 $714,800 $464,620 $250,180
2020 $9,355 $707,471 $459,856 $247,615
2019 $8,990 $693,600 $450,840 $242,760
2018 $4,691 $331,529 $172,562 $158,967
2016 $4,470 $318,657 $165,862 $152,795
2015 $4,400 $313,871 $163,371 $150,500
2014 $4,409 $307,723 $160,171 $147,552
Source: Public Records

Agents Affiliated with this Home

  • I

    Seller's Agent in 2018

    Irma Salgado

    CBM Real Estate

    Section Image
  • Moises Carlos

    Buyer's Agent in 2018

    Moises Carlos

    Escala Realty Group

    (818) 988-3000

    15 Total Sales

    Moises Carlos
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: DW17113775

California Regional Multiple Listing Service (CRMLS)

APN: 6216-028-006

California Los Angeles County South Gate 90280

8924 Mcnerney Ave, South Gate, CA

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

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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