$4,950,000
$5,500,000
10.0%For more information regarding the value of a property, please contact us for a free consultation.
5503 Maywood Avenue Maywood, CA 90270
22,520 SqFt
Key Details
Sold Price $4,950,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 22,520 sqft
Price per Sqft $219
MLS Listing ID CL25587535
Year Built 1963
Lot Size 0.689 Acres
Property Sub-Type Other
Property Description
5503 Maywood Avenue is a unique 28-unit multifamily investment opportunity located in the high-demand Southeast Los Angeles submarket of Maywood. The property features an excellent unit mix comprised of twenty-seven (27) 2-bed/1-bath apartments, built in 1963, plus one (1) detached 5-bed/2-bath single-family residence built in 1923.Offered at a compelling 9.03 GRM and 5.82% Cap Rate on current income, this asset presents both immediate cash flow and long-term upside with projected market metrics of 7.06 GRM and 8.53% Cap Rate. All units are master-metered for gas, electricity, and water, with the exception of the single-family home. The front house will be leased back to the current owner at $3,500/month for a 6-year term, and the buyer will receive an $84,000 rent credit at close of escrow to offset the first 24 months. The on-site laundry room is not currently in use, offering additional upside for future income generation. The property includes (27) open parking spaces and (1) 2-car garage, and is subject to the City of Maywood Rent Stabilization Ordinance.
Location
State CA
County Los Angeles
Zoning MYM1
Interior
Heating Wall Furnace
Cooling None
Building
New Construction No
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Bought with NicholasPetrosian


