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329 West Magnolia Street, Compton, Ca 90220
US $2,099,000
Property features
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  • 12 bedrooms
  • 8 bathrooms
  • QC Approved Listing
Property description
TURNKEY PROPERTY. HANDS OFF MANAGEMENT. This 8-unit investment property in downtown Compton, Calif., all units have been renovated during transition from transitional housing to Section 8 housing. Five units recently rented at proforma rent for 2BD/2BA and 1BD/1BA. Section 8 guarantees 70%-75% of rent These are the nicest units in Compton and adjacent cities. Several potential tenants are in the Section 8 application process. All units have been fully updated with $625k in renovations; including a new fire suppression system, new drive way and fencing. Absolutely no deferred maintenance means this building is ready to lease to quality tenants at market value—not a rent control area or an opportunity zone. Management Office available on-site with surveillance cameras. Located in up-and-coming area near lifestyle shopping, local dining spots, grocery stores, and just a few blocks from two large community parks. / The property is approved for section 8 rentals. Guaranteed Rent. / The cap rate reflects proforma Section 8 rents / One tenant subject to eviction when moratorium ends / Visit comptoncity.org for full city info Cash & Cash to New Loan.

https://www.sothebysrealty.com/id/grwfbp
329 West Magnolia Street , Compton, California, United States
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