1024 W Reeve, Compton, CA 90220
- $1,128,000
- List Price
- $1,128,000
- Status
- ACTIVE
- MLS#
- RS26151216
- Year Built
- 1955
- Lot Size
- 9,218
- Acres
- 0.21
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 17
- Property Type
- Multifamily
- Property Sub Type
- Quadruplex
Property Description
Excellent investment opportunity in Compton! 1024 W. Reeve St. is a four-unit residential income property featuring two 3-bedroom, 1-bath units and two 2-bedroom, 1-bath units. The property is being delivered 100% vacant and rent-ready, allowing the new owner to immediately lease the units, select their own tenants, and establish new rental income. Based on projected Section 8 rents of $3,098 per month for each 3-bedroom unit and $2,490 per month for each 2-bedroom unit, the property has the potential to generate approximately $11,176 in gross monthly rental income and $134,112 in gross annual rental income. Using estimated operating expenses of 25% of gross rental income ($33,528 annually), the property has a projected Net Operating Income (NOI) of approximately $100,584 per year. Offered at $1,128,000, the property provides an estimated 8.9% capitalization rate based on projected rents and estimated operating expenses of 25%, presenting a compelling opportunity for investors seeking strong income potential and long-term cash flow. Cap rate %8.9 Conveniently located near shopping, schools, public transportation, and major freeways. With all four units delivered vacant and rent-ready, the property offers an investor the opportunity to immediately begin leasing the units and maximizing its income potential.
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Additional Information
- Pool Description
- None
- Heat
- Wall Furnace
- Cooling Description
- None
- View
- None
- Roof
- Shingle
- Garage Spaces Total
- 4
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 4
- Gross Scheduled Income
- $134,112
- Operating Expense
- 33528
Listing courtesy of Listing Agent: Mark Perez (mark@socalpropertiesteams.com) from Listing Office: Circle Real Estate.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.