$800,000
$750,000
6.7%For more information regarding the value of a property, please contact us for a free consultation.
6,912 Sqft Lot
SOLD DATE : 09/05/2023
Key Details
Sold Price $800,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 23293769
Sold Date 09/05/23
HOA Y/N No
Year Built 1940
Lot Size 6,912 Sqft
Property Description
Mixed-use investment opportunity consisting of 3 retails stores and a single family residence. The three retail stores are situated on Paramount Boulevard which is a major thoroughfare of South Gate. The single-family house is 3-bedroom/2-bathroom with spacious front yard and a two-car garage. One of the retail spaces will be delivered vacant which provides immediate value-add potential. The property features a total of 3,334 SF and is situated on a 6,914 SF corner lot.8011 Golden Avenue is being offered at a 7.03% cap rate and 10.78 GRM. The asset also presents rental upside with a pro-forma cap rate of 10.35% and a pro-forma GRM of 7.44. Further supporting an outstanding intrinsic value with immediate upside potential, the property is being offered at under $225 per SF.The property is located on a major thoroughfare of South Gate with the retail stores having great frontage on Paramount Boulevard. The house is located behind the retail stores on Golden Avenue which is a quiet residential street. Located in the heart of the Los Angeles Metropolitan Area, the City of South Gate is a busy, urban community consisting of residential, commercial, and industrial development spread over 7.4 square miles. It currently ranks as the 73rd largest city in California and 17th largest in Los Angeles County with a population of approximately 100,000 residents. South Gate is known for its outstanding city services, remarkable parks and recreation facilities and family-friendly environment.
Location
State CA
County Los Angeles
Area T4 - South Gate E Of 710
Zoning SGC3*
Interior
Fireplace No
Laundry See Remarks
Exterior
Roof Type Other
Building
Lot Description Corner Lot, Lawn, Landscaped
Others
Tax ID 6264006009
Special Listing Condition Standard
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Bought with Daniel Hirth • KW Advisors