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9622 Long Beach Blvd

South Gate, CA 90280
  • $868,000
  • STATUS: Active
  • ON SITE: 172 Days
  • ID#: 22-128917
UPDATED: 30 min ago
$868,000
  • 2
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,753
    SQFT
  • $231
    $/SQFT

School Ratings & Info

Description

Mixed use property in Southgate featuring a bar and retail down stairs and two residential apartments upstairs. Bar (1180sf) and one apartment unit (840sf) currently vacant and may be rented for market rents. Occupied units are on month to month leases and are paying below market rents. Great upside potential for new owner. Property has been in the same family for many years and is now a great opportunity for new management. Retail store (1010sf) rented for $900/mo. Residential unit (805sf) is rented for a total of $1,000 for month. Bar was previously rented for $2000/month and is now vacant. All leases are month to month and verbal agreements. Seller may opt for 1031 exchange. Buyer to cooperate with seller 1031 exchange if necessary. Parking is accessed through a shared driveway. Great opportunity on a street that is marked for development.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-08-09T12:43:20.893. 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.
www.trulinerealty.com/homes/125935661
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9622 Long Beach Blvd South Gate, CA 90280

  • Price: $868,000
  • Status: Active
  • On Site: 172 Days
  • Updated: 30 min ago
  • ID#: 22-128917
2
Beds
0
Baths
0
½ Baths
0.15
Acres
3,753
SQFT
$231
$/SQFT
1945
Built
Neighborhood:
Cudahy, South Gate W Of 710, Hunt Pk S Of Florence
County:
Los Angeles
Area:
Cudahy, South Gate W Of 710, Hunt Pk S Of Florence
Property Description
Mixed use property in Southgate featuring a bar and retail down stairs and two residential apartments upstairs. Bar (1180sf) and one apartment unit (840sf) currently vacant and may be rented for market rents. Occupied units are on month to month leases and are paying below market rents. Great upside potential for new owner. Property has been in the same family for many years and is now a great opportunity for new management. Retail store (1010sf) rented for $900/mo. Residential unit (805sf) is rented for a total of $1,000 for month. Bar was previously rented for $2000/month and is now vacant. All leases are month to month and verbal agreements. Seller may opt for 1031 exchange. Buyer to cooperate with seller 1031 exchange if necessary. Parking is accessed through a shared driveway. Great opportunity on a street that is marked for development.
Exterior Features

Direction Faces West Exterior Construction Stucco Levels Multi/Split Lot Size Area 6715 Other Structures None Parking Garage Shared DrivewayParking Space Pool Description None Pool YN No Roof Flat Style Traditional Total Parking 8 View Description None View YN No

Interior Features

Baths Total 2.00 Common Walls Attached Cooking Appliances None Cooling Wall/Window Equipment Built-InsOther Flooring Mixed Heating Radiant Laundry None

Property Features

Assessed Total Value 59947 Electric Expense 1200.00 Gross Income 48360 Gross Operating Income 48360 Insurance Expense 1800.00 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Net Operating Income 31723.00 Number Of Buildings 1 Number Of Units 4 Owner Pays Water Sale Type Standard Source Living Area Estimated Source Lot Size Area Vendor Enhanced Tenant Pays ElectricityGasInterior Maint Total Annual Expense 16637 Type Of Units Res/Com Water Expense 2400.00 Year Built Source Vendor Enhanced Zoning Sgc3*

Listing provided courtesy of Mark Alan Walker DRE#01309961 of Nourmand & Associates-Hw.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-08-09T12:43:20.893. 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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TruLine Realty
2999 Overland Ave., Suite 116
Los Angeles CA, 90064