$ 749,000
8800 Compton Avenue Los Angeles, CA 90002
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$ 749,000
Est. payment /mo
Price Dropped by $36K
8800 Compton Avenue Los Angeles, CA 90002
2 Beds
3 Baths
6,047 Sqft Lot
UPDATED:
11/05/2024 02:49 AM
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB24218634
Bedrooms 2
HOA Y/N No
Lot Size 6,047 Sqft
Property Description
We are pleased to present 8800 Compton Ave, a rare FULLY VACANT property in Los Angeles consisting of 2 one-bedroom units + 1 commercial structure that is primed for an ADU conversion into 2 additional units with the potential to operate at a 10%+ CAP rate. Built in 1926, this opportunity consists of two separate structures totaling 1,864 rentable square feet that is situated on a 6,047 square foot, LCC3 zoned corner lot, with street frontage off of Compton Ave & E 88th St as well as with alley access. The unit mix consists of 2 one-bedroom units located in front duplex with a rear commercial building that was previously used as a church. Being delivered 100% vacant presents the next investor a unique opportunity to immediately reposition the property, and either re-rent the commercial unit to a new user or add density by converting the structure to 2 ADUs with 2 one-bedroom units, while ultimately providing flexibility for determining unit rehab finishes and new tenant selection to stabilize the property at market rents. 8800 Compton Ave is situated in a transit-oriented location near numerous bus stops and the Firestone Light Rail Station, as well as a number of community establishments such as Rauls Market, Mercardo Don Juan, Rudys Baker, Nadeau Caf, Playa Azul Tortilleria and Market, Birrieria Jalisco and Norteno Bar and Grill.
We are pleased to present 8800 Compton Ave, a rare FULLY VACANT property in Los Angeles consisting of 2 one-bedroom units + 1 commercial structure that is primed for an ADU conversion into 2 additional units with the potential to operate at a 10%+ CAP rate. Built in 1926, this opportunity consists of two separate structures totaling 1,864 rentable square feet that is situated on a 6,047 square foot, LCC3 zoned corner lot, with street frontage off of Compton Ave & E 88th St as well as with alley access. The unit mix consists of 2 one-bedroom units located in front duplex with a rear commercial building that was previously used as a church. Being delivered 100% vacant presents the next investor a unique opportunity to immediately reposition the property, and either re-rent the commercial unit to a new user or add density by converting the structure to 2 ADUs with 2 one-bedroom units, while ultimately providing flexibility for determining unit rehab finishes and new tenant selection to stabilize the property at market rents. 8800 Compton Ave is situated in a transit-oriented location near numerous bus stops and the Firestone Light Rail Station, as well as a number of community establishments such as Rauls Market, Mercardo Don Juan, Rudys Baker, Nadeau Caf, Playa Azul Tortilleria and Market, Birrieria Jalisco and Norteno Bar and Grill.
We are pleased to present 8800 Compton Ave, a rare FULLY VACANT property in Los Angeles consisting of 2 one-bedroom units + 1 commercial structure that is primed for an ADU conversion into 2 additional units with the potential to operate at a 10%+ CAP rate. Built in 1926, this opportunity consists of two separate structures totaling 1,864 rentable square feet that is situated on a 6,047 square foot, LCC3 zoned corner lot, with street frontage off of Compton Ave & E 88th St as well as with alley access. The unit mix consists of 2 one-bedroom units located in front duplex with a rear commercial building that was previously used as a church. Being delivered 100% vacant presents the next investor a unique opportunity to immediately reposition the property, and either re-rent the commercial unit to a new user or add density by converting the structure to 2 ADUs with 2 one-bedroom units, while ultimately providing flexibility for determining unit rehab finishes and new tenant selection to stabilize the property at market rents. 8800 Compton Ave is situated in a transit-oriented location near numerous bus stops and the Firestone Light Rail Station, as well as a number of community establishments such as Rauls Market, Mercardo Don Juan, Rudys Baker, Nadeau Caf, Playa Azul Tortilleria and Market, Birrieria Jalisco and Norteno Bar and Grill.
Location
State CA
County Los Angeles
Area Los Angeles (90002)
Zoning Assessor
Exterior
Exterior Feature Stucco
Building
Story 1
Lot Size Range 4000-7499 SF
Level or Stories 1 Story
Others
Monthly Total Fees $74
Acceptable Financing Cash, Exchange
Space Rent $2,300
Listing Terms Cash, Exchange
Listed by Vincent Cook • Kidder Mathews of California, Inc
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