Condominium buy in South Gate California

We are pleased to present 8991 Dorothy Avenue located in South Gate, CA, where there is no LA rent control (only subject to AB-1482). Built in 1947 and recently renovated in 2021, the 3,317 square foot property sits on a 0.18 acre lot, and it is comprised of a 3 Bed / 1 Bath House in front and a 4 unit building at the back of the lot with all 1 Bed / 1 Bath Units.The sellers have spent the past year renovating the property inside and out. All 5 units have been upgraded as well as the entire exterior of the property, which presents the buyer an excellent opportunity to add value add without any significant deferred maintenance. Without LA Rent control, the buyer will be able to raise rents over the coming years at a faster rate, allowing quicker access to the estimated 17% upside potential in rents. Additionally, the Buyer would be wise to consider converting the one car garage in the middle of the lot to an ADU, which would add a significant amount of value at a lower cost than ground up construction ADUs. Owners in South Gate enjoy the high demand for rentals in the mid-cities of Southern California. Tenants can appreciate living across from South Gate Park, offering many outdoor and indoor recreation activities including tennis, soccer, baseball, a skate park and batting cages. One of the most known soccer centers in all of Southern California, Goals Soccer, is also located at this park. Situated approximately 7 miles southeast of downtown Los Angeles, South Gate is the 17th largest city in Los Angeles County, comprising 7.4 square miles. Strategically located near major highways, including Interstate 710 (Long Beach Freeway), Interstate 5 (Santa Ana Freeway) and Interstate 105 (Glen Anderson Freeway). South Gate is known as the "Azalea City" when it adopted the flowers as its symbol in 1965 and has a population of 94,642 as of 2019. MLS® ID: 22164951 Listed: 6/5/22 Updated: 10/4/22 Interior Features Total Bedrooms: 7 Total Bathrooms: 5 Exterior/Building Features Lot Size: 7,878 ft2 lot Other Property Details Area Name: T2 - Cudahy, SouthGate W of 710, HuntPk S of Flore Garage: No Parking: N Parking Total: 2.0 View: N County: Los Angeles Pool: No Total Stories: 2 Zoning: SGR3YY Property History Date Event Price Value 9/20/22 Price Change $1,575,000 -1% 7/6/22 Price Change $1,595,000 -3% Listed by Filip Niculete, Marcus & Millichap, Based on information from California Regional Multiple Listing Service, Inc. as of 10/4/22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.