PRICE: $1,295,000

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MIXED-USE ASSET ​

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Mixed-use investment opportunity consisting of 2 retails stores and 6 apartment units. No local rent control – defaults to AB 1482. The building features 6,088 SF* and is situated on large 11,016-SF lot. The two retail spaces are currently occupied by a single tenant (Royal Mortuary) for both spaces. The leases have expired and the tenant is month-to-month. This presents a desirable value-add opportunity for a new owner to lease the property to new tenants at market rate. The retails spaces have frontage on Paramount Boulevard and consist of a total of 1,338 SF. The apartment units are located in the rear of the property and are comprised of (two) 3-bedroom/1-bathroom units, (three) 2-bedroom/1-bathroom units and (one) 1-bedroom/1 bathroom units. 

 

*Title shows the property as 4,320 SF.

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13206 Paramount Boulevard is being offered at 5.87% cap rate and 9.85 GRM. The asset also presents tremendous upside with rents that are+/-46% below market. Priced at a pro-forma cap rate of 10.30% and pro-forma GRM of 6.74, the asset provides spectacular upside potential in an incredibly strong South Gate location.

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The property is located on a major thoroughfare of South Gate with great frontage on Paramount Boulevard. Located in the heart of the Los Angeles Metropolitan Area, the City of South Gate is a busy, urban community consisting of residential, commercial, and industrial development spread over 7.4 square miles. It currently ranks as the 73rd largest city in California and 17th largest in Los Angeles County with a population of approximately 100,000 residents. South Gate is known for its outstanding city services, remarkable parks and recreation facilities and family-friendly environment.