8994 McNerney Avenue

South Gate, CA 90280

$1,185,000
Last Sold Price
4
Beds
4
Baths
2,065 Sq. Ft.
$574 / Sq. Ft.
2,065
Sq. Ft.
$574
per Sq. Ft.

Description

Incredible Non-Rent Control 4-unit Investment or Owner-User opportunity (1 Vacant) cash flowing at an amazing 6% Cap Rate and 12.1 GRM from Day 1! All 4 units have been completely stripped down to the studs, renovated with permits, and include brand new roofs, electrical systems, copper plumbing, windows, cabinets, flooring, lighting fixtures, bathrooms, and kitchens. Plus washer/dryer hookups in all units, new water heaters as well as HVAC systems. Additional Upside to 6.9% Cap Rate and 10.8 GRM...Incredible Non-Rent Control 4-unit Investment or Owner-User opportunity (1 Vacant) cash flowing at an amazing 6% Cap Rate and 12.1 GRM from Day 1! All 4 units have been completely stripped down to the studs, renovated with permits, and include brand new roofs, electrical systems, copper plumbing, windows, cabinets, flooring, lighting fixtures, bathrooms, and kitchens. Plus washer/dryer hookups in all units, new water heaters as well as HVAC systems. Additional Upside to 6.9% Cap Rate and 10.8 GRM on proforma. Non-Rent Control area allowing for 8.8% annual increases (5% + CPI). The property is located in South Gate which is an excellent up-and-coming area close to schools, restaurants, shopping centers, and entertainment options - just blocks from Azalea Shopping Center which hosts Walmart, Starbucks AltaIn-N-Out Fridays Wingstop, and more. It's great to have access to the 710, and 105 freeways which will take you easily to Downtown LA or the beach!

Property Details for 8994 McNerney Avenue

Zoning
SGR3YY
Parcel Number
6216029005
Total Units
4.0
Living Area
2065
Source Living Area
Vendor Enhanced
Area
Cudahy, South Gate W of 710, Hunt Pk S of Florence (T2)
Vacancy Rate
1 Unit
Lot Size Area
3903

Location

Listing Courtesy of Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261; Global Platinum Properties, Inc., Armin Soleimani, DRE #01846872

Sold By VISMAR REAL ESTATE, Cary Tong, DRE #02006893

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LISTING UPDATED: 01/26/2024 03:08 PM

Property Details for 8994 McNerney Avenue

StatusSold
MLS #23-338290
Days on Market12
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1948
Lot Size0.09 AC / 3,903 SF
CountyLos Angeles County

Location

Listing Courtesy of Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261; Global Platinum Properties, Inc., Armin Soleimani, DRE #01846872

Sold By VISMAR REAL ESTATE, Cary Tong, DRE #02006893

Add your commute

Building Information for 8994 McNerney Avenue

Stories2Residences-Year Built1948Building Size-Lot Size0.09 AC / 3,903 SF

Payment Calculator

$7,213 per month

30 year fixed, 7.25% Interest

Principal and Interest

$6,467

Property Taxes

$746

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 8994 McNerney Avenue

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Bungalow
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $95,781
  • Net Operating Income: $71,736.00
  • Gross Income: $98,744
  • Cap Rate: 6.00%
  • Gross Rent Multiplier: $12.10
  • Total Annual Expense: 24045
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.0896
  • Lot Size Square Feet: 3903
Parking Details
Parking Details
  • Parking Garage: Uncovered, Tandem
  • Total Parking: 4
  • Parking Features: Uncovered, Tandem Garage
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Ceiling Fan
  • Heating Type: Wall Gas
  • Equipment: Range/Oven
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 12-08-2023
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,295.00
  • Unit Actual Rent: $2,050.00
  • Unit Projected Rent: $2,295.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,295.00
  • Unit Actual Rent: $1,939.00
  • Unit Projected Rent: $2,295.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,295.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,295.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,295.00
  • Unit Actual Rent: $1,944.00
  • Unit Projected Rent: $2,295.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $292,680.00
  • Assessed Improvement Percent: 40.0
  • Assessed Land Value: $439,021.00
  • Assessed Land Percent: 60
  • Assessed Total Value: $731,701.00

Property History for 8994 McNerney Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 8994 McNerney Avenue

Taxable ValueLand$399,446Additions$273,304Total$672,750
Tax Record2023$8,950 ($746 / month)
Home Facts
Total Finished SqFt2,065 SqFtAbove Grade Finished SqFt2,065 SqFtLot Size3,903 SqFtStyleQuadraplexYear Built1948ZoningSGR3YYCountyLOS ANGELESAPN6216-029-005

Schools near 8994 McNerney Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Charter - K to 5
Public - 6 to 8
Public - 6 to 8
Public - 6 to 12
Rating
School
Distance
Aspire Firestone Academy
CharterK to 5

Southeast Middle School
Public6 to 8

South Gate Middle School
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261; Global Platinum Properties, Inc., Armin Soleimani, DRE #01846872

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.