NOT LISTED FOR SALE

9558 Elizabeth Ave South Gate, CA 90280

10 Beds
6 Baths
4,263 Sq Ft
0.29 Acres

Last Sold October 09, 2012

Last sale price $550,000 $129 Per Sq Ft

Highlights

  • 0.29 Acre Lot
  • Traditional Architecture
  • Laundry Room
  • Legacy High School Complex Rated A-
  • No HOA
  • Carpet

About This Home

As of October 2012

DRAMATIC $100,000 PRICE REDUCTION!

The offering is a three building 1961 built non-rent control property located in The City of South Gate located on a large lot that may be ripe for future development. The existing rents are below market and the property is in average condition and shows a good positive cash flow on actual rents and expenses. The property has 1 two story 3 bedroom unit, one 2 bedroom unit upstairs and 3 1 bedroom units with 5 garage parking spaces and is located on a large lot.

Additional income maybe derived from a coin-laundry room. The area is its own city in LA County and there is no rent control. It is good for a first time or seasoned investor adding another investment to their portfolio.

Last Agent to Sell the Property

Bill Mulkey

TR Wealth Management Inc. License #00986020 Listed on: 07/22/2012

Last Buyer's Agent

Danny Lomeli

Realty One Group Diamond License #01743176

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1961

Lot Details

  • 0.29

Parking

  • 5 Car Garage
  • Parking Available
  • Front Facing Garage

Home Design

  • Traditional Architecture
  • Cosmetic Repairs Needed
  • Frame Construction
  • Composition Roof
  • Stucco

Interior Spaces

  • 4,263 Sq Ft Home
  • Carpet
  • Laundry Room

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 6 Bathrooms

Additional Features

  • 0.29 Acre Lot
  • Wall Furnace

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 29
  • Tax Tract Number 5248
  • Assessor Parcel Number 6209014029

Community Details

Overview

  • No Home Owners Association
  • 3 Buildings
  • 6 Units

Amenities

  • Laundry Facilities

Building Details

  • 6 Leased Units
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $300
  • Gardener Expense $600
  • Insurance Expense $1,651
  • Maintenance Expense $4,104
  • Professional Management Expense $4,000
  • Trash Expense $1,440
  • Water Sewer Expense $3,600
  • New Taxes Expense $7,500
  • Gross Income $5,500
  • Net Operating Income $39,506

Property Details

Home Type

Multi-Family

Year Built

Built in 1961

Lot Details

0

Parking

5

Listing Details

  • CapRate: 6.58
  • Other Phone Description: office
  • Other Phone Number: 310-316-1014
  • Price Per Unit: 120000
  • Professional Management Expense: 4000.00
  • Water Sewer Expenses: 3600.00
  • Architectural Style: Traditional
  • Property Condition: Repairs Cosmetic
  • Property Type: Residential Income
  • Gardener Expense: 600.00
  • Parcel Number: 6209014029
  • Year Built: 1961
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet
  • Levels: One
  • Price Per Square Foot: 129.02

Exterior Features

  • Roof: Composition
  • Construction Materials: Frame, Stucco

Garage/Parking

  • Garage Spaces: 5.00
  • Parking: Yes
  • Parking Features: Garage Faces Front
  • Total Parking Spaces: 5.00

Utilities

  • Utilities: Sewer Available
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Common Area
  • Trash Expense: 1440.00

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Lot Size Sq Ft: 12466.00
  • Lot Size Acres: 0.2860

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average1 Bed Area: 600
  • Average2 Bed Area: 800
  • Average3 Bed Area: 900
  • Electric Expense: 300.00
  • Gross Income: 5500.00
  • Gross Multiplier: 9.00
  • Gross Scheduled Income: 66600.00
  • Insurance Expense: 1651.00
  • Lot Size Area: 12466.0000 Square Feet
  • Maintenance Expense: 4104.00
  • Net Operating Income: 39506.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 6
  • Number Of Units Total: 6
  • Operating Expense: 23764.00
  • Operating Expense Percent: 35.70
  • Other Income Description: Actual Income for 5 units
  • Rent Control: No
  • Total Actual Rent: 5550.00
  • Vacancy Allowance: 3330
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 7500.00
  • Tax Lot: 29
  • Tax Tract Number: 5248
  • Tax Year: 2011

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/09/2012 10/09/12 Sold $550,000 -19.1% $129 / Sq Ft
07/22/2012 07/22/12 For Sale $680,000 -- $160 / Sq Ft
10/09/2011 10/09/11 Pending -- -- --
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Bill Mulkey

    Seller's Agent in 2012

    Bill Mulkey

    TR Wealth Management Inc.

    (310) 919-7554

    16 Total Sales

    Section Image

  • D

    Buyer's Agent in 2012

    Danny Lomeli

    Realty One Group Diamond

See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: S12094010

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County South Gate 90280

9558 Elizabeth Ave, South Gate, CA

This home is located at 9558 Elizabeth Ave, South Gate, CA 90280 since 22 July 2012. This property was built in 1961. 9558 Elizabeth Ave is a home located in Los Angeles County with nearby schools including Victoria Avenue Elementary School, Southeast Middle School, and South Gate Middle School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

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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