11449 Florence Avenue

    Santa Fe Springs, CA 90670
    • $4,000,000
    • STATUS: Active
    • ON SITE: 27 days
    • ID#: PW18255618
    UPDATED: 59 min ago
    $4,000,000
    • 0
      BEDS
    • 0.99
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 20,644
      SQFT
    • $194
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1958
    County:

    School Ratings & Info

    Description

    16 Unit investment opportunity zoned SSC1 ("neighborhood residential") consists of 14 residential income units of 28 beds & 37 baths (2/3BR; 11/2BR; 1/1BR) & 2 commercial spaces (currently being used for storage). There are 5 buildings estimated at 20,644 sqft total on 43,240 sqft lot, giving this mixed-use property 75% residential usage & 25% commercial usage. All but 3 of the residential units are rented, with one 3BR unit separately fenced w/a pool set up as an +G+owner+G- unit. The 2 commercial spaces, approx. 5,000 sqft of the total sqft, are currently unoccupied and in need of rehab. The City prefers that these be kept residential or, if commercial, converted to a Day Care or other neighborhood commercial business. Roughly 50% of the residential units are townhouse style w/inside individual laundry & private patios. Two of the 2BR units were recently upgraded w/new carpet, appliances & paint. All units have garages, carports, and ample off-street parking. Property is located close to the 605/5 freeway junction w/easy access to major transportation routes. Santa Fe Springs is home to 100 acres of recreational space & miles of greenbelts & parkways, making this an excellent investment opportunity with an upside in rent. Property is a probate sale and is sold AS IS.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-20T22:30:59.96. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.fredsedgroup.com/homes/88784611

    11449 Florence Avenue Santa Fe Springs, CA 90670

    • Price: $4,000,000
    • Status: Active
    • Updated: 59 min ago
    • ID#: PW18255618
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.99
    Acres
    20,644
    SQFT
    $194
    $/SQFT
    1958
    Built
    Neighborhood:
    M2 - Santa Fe Springs
    County:
    Los Angeles
    Area:
    M2 - Santa Fe Springs
    Property Description
    16 Unit investment opportunity zoned SSC1 ("neighborhood residential") consists of 14 residential income units of 28 beds & 37 baths (2/3BR; 11/2BR; 1/1BR) & 2 commercial spaces (currently being used for storage). There are 5 buildings estimated at 20,644 sqft total on 43,240 sqft lot, giving this mixed-use property 75% residential usage & 25% commercial usage. All but 3 of the residential units are rented, with one 3BR unit separately fenced w/a pool set up as an +G+owner+G- unit. The 2 commercial spaces, approx. 5,000 sqft of the total sqft, are currently unoccupied and in need of rehab. The City prefers that these be kept residential or, if commercial, converted to a Day Care or other neighborhood commercial business. Roughly 50% of the residential units are townhouse style w/inside individual laundry & private patios. Two of the 2BR units were recently upgraded w/new carpet, appliances & paint. All units have garages, carports, and ample off-street parking. Property is located close to the 605/5 freeway junction w/easy access to major transportation routes. Santa Fe Springs is home to 100 acres of recreational space & miles of greenbelts & parkways, making this an excellent investment opportunity with an upside in rent. Property is a probate sale and is sold AS IS.
    Exterior Features

    Garage Spaces 7.00 Lot Features 16-20 Units/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Features AssignedCarportCarport AttachedDriveway - AsphaltGarageGarage - Single DoorOff StreetUnassignedUncovered Parking Total 7.00 Parking YN Yes Pool Features PrivateFencedIn Ground Pool Private YN Yes Property Attached YN Yes Roof CompositionShingle

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 1 Common Wall Laundry Features InsideSee Remarks Levels Two

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 2.48 Community Features Sidewalks Country Us Electric Expense 3089.00 Elevation Units Feet Fuel Expense 150.00 Gardener Expense 1860.00 Gross Income 15430.00 Gross Multiplier 21.68 Gross Scheduled Income 185160.00 Insurance Expense 10000.00 Land Lease YN No Laundry Equipment Own Lease Own Laundry YN Yes Licenses Expense 240.00 Maintenance Expense 48538.00 Net Operating Income 41060.00 New Construction YN No New Taxes Expense 50000.00 Number Of Separate Electric Meters 17 Number Of Separate Gas Meters 17 Number Of Separate Water Meters 1 Operating Expense 144100.00 Other Income1 500.00 Professional Management Expense 6000.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Probate Listing Supplies Expense 6040.00 Tenant Pays ElectricityGas Total Expenses 144100.00 Trash Expense 9820.00 Water Sewer Expense 8363.00 Water Source Public Year Built Source Appraiser Zoning Ssc1*

    Listing provided courtesy of Cheryl Cotton of Keller Williams Pacific Estate and Nicholas Cotton of Keller Williams Pacific Estate.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-20T22:30:59.96. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
    Fred Sed Realty - Keller Williams
    4010 Barranca Pkwy Suite 100
    Irvine CA, 92604