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Key Details
Sold Price $2,606,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB12154244
Sold Date 03/18/13
HOA Y/N No
Year Built 1958
Tax Year 2011
Lot Size 0.344 Acres
Property Description
2617 & 2619 Gates Avenue - A rare, contiguous 2-parcel offering in North Redondo. Ideal "Buy and Hold" for an apartment investor - with the "Value Add" opportunity of condo development, in the future. Very tidy buildings maintained well by local ownership. The buildings' unit mix of all 2 Bd units typically means little relative turnover and stable tenancy. Separately gas/electric meters AND separate hot water heaters, garage parking AND each unit has washer/dryer hookups. Seller prefers to sell one building outright and "carry" $750K on the other building, closing concurrently. Immediate rent upside and even more, still, through slight aesthetic improvements - 2 Bedroom/1 Bath units in this area routinely rent for $1,500-$1,600/month!
Several streets North of Artesia Blvd and just a block West of Inglewood Ave. Tenants are 2 minutes from the South Bay Galleria, the 405 Fwy. and a 5 minute drive to surf and sand.
Location
State CA
County Los Angeles
Area 151 - N Redondo Bch/Villas North
Zoning R3
Interior
Fireplace No
Exterior
Parking Features Assigned
Garage Spaces 12.0
Garage Description 12.0
Pool None
Community Features Urban
Utilities Available Sewer Available
Total Parking Spaces 12
Private Pool No
Building
Story 2
Entry Level Two
Water Public
Level or Stories Two
Others
Senior Community No
Tax ID 4153027020
Acceptable Financing Cash to Existing Loan, Owner Will Carry, Submit
Listing Terms Cash to Existing Loan, Owner Will Carry, Submit
Financing Cash,Conventional,Seller Financing
Special Listing Condition Standard
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Bought with Rob Dodson • RE/MAX Estate Properties