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Key Details
Sold Price $2,800,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 22207479
Sold Date 12/22/22
HOA Y/N No
Year Built 1941
Lot Size 0.402 Acres
Property Description
Kingside Investment Group is proud to present 8400-8410 State Street, a mixed-use residential thirteen (13) unit building situated on approximately 17,503 square feet of land (0.4 acres) in the city of South Gate, California. Unit composition includes nine (9) one-bed/one-bath units and four (4) commercial units measuring 725 & 758 SF respectively. The residential component of the building on Liberty Avenue features two rows of three detached cottage style units, and three carriage style units above the garage in the rear. The building surrounds a manicured garden displaying an immense pride of ownership. Additionally, select units have new windows and updated shingled roofs. Lastly, each unit has one covered garage parking spot, and street parking as well. Adding to the income stream there is also a strip of four (4) commercial stores facing State Street. The stores are fully occupied by legacy tenants and benefit from over 30,000 vehicles per day. 75% of the retail tenants are service based businesses increasing the chances of them staying at the building. Despite the good income at the building with a targeted renovation program, a new owner has the chance to capitalize on additional rental income. Located on State Street, the subject property puts residents within walking distance of public transportation, retail centers, and employment hubs which will make this a valuable building for years to come.
Location
State CA
County Los Angeles
Area T2 - Cudahy, Southgate W Of 710, Huntpk S Of Flore
Zoning SGCR*
Interior
Fireplace No
Others
Tax ID 6211003006
Special Listing Condition Standard
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Bought with Andres Diaz • Keller Williams Downtown LA