Property listed by Younglewin Advisors, Inc., Jackson Jorgensen [email protected]
$800,000
We are pleased to present 11952 Santa Fe Ave, a single story three unit apartment building in the city of Lynwood to market. The property consists of all two bedroom/one bath units on a 7,060 square foot lot. In addition to three single car garages in the front of the… Read More property, there is one parking space in front of each garage allowing each tenant to have parking for two cars.
A new owner could potentially convert the front garage into a 600 square foot ADU as well.
Current rents are nearly 45% below market rate, allowing a new investor substantial upside in future rental income. In addition, Lynwood does not have local rent control and is under AB-1482, allowing for higher rent increases than neighboring cities.
The current ownership has owned the property for decades and has maintained the property well with a newer roof, exterior paint, and windows.
Santa Fe Ave presents a great opportunity for a local investor or owner user to acquire a well maintained property that qualifies for residential financing. Read Less
Listing Snapshot
Days Online
16
Last Updated
Property Type
Apartment
Lot Size
0.16 Acres
Year Built
1953
MLS Number
PW25245571
Additional Details
Building
Built in 1953, 1 building, 1 storey, Entry level: 1, Entry location: Side
Community
Urban
Expenses
Operating: $23,278
Garage
3 spaces
Income
Gross Income: $52,200, Gross ScheduledIncome: $52,200, Net Operating Income: $27,256
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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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