Condominium buy in Commerce California

We are pleased to present a 5 unit in Commerce being offered for sale (by the original owner) for the first time in almost 33 years! This investment opportunity has an excellent unit mix of oversized 2 bedroom + 1 bathroom in all units. Take advantage of this great chance to own an income property, newly constructed in 1990 sitting on a very large 10,221 square foot lot zoned R3. A new investor would appreciate the strong in-place rents as it brings in 4.35% cap rate on current rents. The opportunity for growth can be seen from different perspectives on this pride-of-ownership property. For decades, the owners have given their time and love into this asset with many recent capital improvement. This truly is a one-of-a-kind trophy investment of its area. Some great features about this location is the two-story layout of the building, balcony for select units, on-site laundry, secured entry, garage parking for all units, separately metered for gas and electricity as a well as water heater for each unit. The property is located within a short Distance to the 5, 60, 101 & 710 Freeways. Don't run away, take advantage of the location as this is considered under the statewide AB1482 rent control of 5% + CPI (which is currently 10%). MLS® ID: 22202251 Listed: 9/22/22 Updated: 10/4/22 Interior Features Total Bedrooms: 10 Total Bathrooms: 5 Exterior/Building Features Lot Size: 10,247 ft2 lot Exterior Features: Shed(s) Other Property Details Area Name: ELA - East Los Angeles Garage: Yes Parking: Garage Parking Total: 12.0 View: N County: Los Angeles Pool: No Total Stories: 2 Zoning: 0500 (R3) Property History Date Event Price Value 9/28/22 Active Under Contract - - Listed by Shant Sherbetdjian, Remax Commercial and Investment Realty, 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.