$2,100,000
$2,200,000
4.5%For more information regarding the value of a property, please contact us for a free consultation.
15 Beds
10 Baths
6,925 SqFt
SOLD DATE : 11/08/2024
Key Details
Sold Price $2,100,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 6,925 sqft
Price per Sqft $303
MLS Listing ID 24440073
Sold Date 11/08/24
Bedrooms 15
HOA Y/N No
Year Built 1973
Lot Size 0.430 Acres
Property Description
This five-unit property, located at 334 E 220th St in Carson, CA, presents a unique investment opportunity with substantial upside potential. The property consists of two front houses, each 1,305 square feet with attached two-car garages, built in 1973, and three spacious apartment-style units in the back, built in 1981. The back units include one 1,535-square-foot unit and two 1,390-square-foot units, offering a total of 6,925 square feet of living space on an expansive 18,709-square-foot lot. Listed at $2,200,000, this well-positioned asset is priced at $440,000 per unit and $318 per square foot. Currently, the property generates $13,900 per month and $166,800 annually in rental income, with the potential to increase to $16,750 per month and $201,000 per year at market rent levels. The back house is currently vacant, while all other tenants are on month-to-month leases, providing flexibility for new ownership. Although the property has not undergone recent renovations, it is in good condition, with significant potential for value-add opportunities. The large lot and existing garage spaces offer excellent potential for additional development, such as the construction of ADUs in the garage spaces or in the back/side yard areas. The property includes six single-car garages for the back units and two two-car garages for the front houses, further enhancing its appeal. Rents are due for an immediate increase upon new ownership. This property offers investors the chance to acquire a well-maintained asset with significant upside in a highly desirable location.
Location
State CA
County Los Angeles
Area 136 - Central Carson
Zoning CARM12U&D*
Rooms
Other Rooms Shed(s)
Interior
Heating Wall Furnace
Fireplace No
Appliance Disposal, Dryer, Washer
Exterior
Parking Features Door-Multi, Door-Single, Driveway, Garage, Private
Attached Garage Yes
Total Parking Spaces 16
Building
Story 2
Entry Level Two,Multi/Split
Level or Stories Two, Multi/Split
Additional Building Shed(s)
New Construction No
Others
Senior Community No
Tax ID 7335021024
Special Listing Condition Standard
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Bought with John McCann • Lyon Stahl Investment Real Estate, Inc.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "