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432 W Palm ST Compton, CA 90220
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Key Details
Sold Price $799,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,536 sqft
Price per Sqft $315
MLS Listing ID SB21076444
Sold Date 08/04/21
HOA Y/N No
Year Built 1948
Lot Size 7,840 Sqft
Acres 0.18
Property Description
432 W Palm St in Compton, is a spacious 4 plex that sits on an oversized 7,823 Sq ft. Lot. This value-add asset has plenty of upside in monthly rental income, once units are rented for market! Two 1-Bedroom/1-Bath units will be delivered tenant-ready, making this the perfect opportunity for an owner/user to live in one unit, and use the other's rent to pay off their mortgage!
432 W Palm Street is a 4-Unit asset located in the heart of Compton. This value-add asset is comprised of (4) 1-bedroom/1-bath units, currently operating at a 5.13% CAP. The building has 2,536 Sq.Ft of living space and the units feature hardwood floors, new interior paint, spacious layouts, and an open outdoor area. There is laundry on-site, as well as 4 garage parking spots. Still plenty of room to grow the monthly rental income, with a 7.27% Market CAP.
The subject property is within walking distance of the Compton Library and Martin Luther King Jr Memorial Park. Just a few miles away from $6 Billion worth of development in Long Beach, including The Uptown Commons, and plenty of new housing projects. Metro's "A-Line," running from Downtown Long Beach to Downtown Los Angeles, also has a Compton station within a mile of 432 W Palm Street. This value-add property is an ideal pickup for any investor or owner/user looking to live in one unit and let the others pay off the mortgage!
Location
State CA
County Los Angeles
Area Rp - Compton S Of Rosecrans, E Of Central, W Of Ala
Zoning COPRH*
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Biking, Curbs
Total Parking Spaces 4
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 6161023009
Acceptable Financing Conventional
Listing Terms Conventional
Financing Conventional
Special Listing Condition Standard
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Bought with Edgar Gutierrez • Century 21 Allstars