8427 Otis Street, South Gate, CA 90280
- $1,500,000
- List Price
- $1,500,000
- Price Change
- ▼ $225,000 1783997330
- Status
- ACTIVE UNDER CONTRACT
- MLS#
- OC26110915
- Year Built
- 1951
- Lot Size
- 9,601
- Acres
- 0.22
- Lot Location
- 2-5 Units/Acre
- Days on Market
- 67
- Property Type
- Multifamily
- Style
- Traditional
- Property Sub Type
- Mixed Use
- Stories
- One Level
Property Description
This rare 7-unit apartment investment opportunity in South Gate offers investors a well-maintained income property with strong upside potential in one of Southern California’s consistently high-demand rental markets. Built in 1951, the property features approximately 5,466 square feet of rentable space situated on a spacious 19,229 square foot lot. Strategically positioned in a dense rental corridor with historically low vacancy rates, the property provides stable in-place income with the opportunity to increase rents over time and enhance long-term value. The attractive layout features all single-story detached units, creating a desirable living environment for tenants while minimizing shared walls and maximizing privacy. The versatile unit mix consists of: • Two (2) 1-Bedroom / 1-Bath detached units, each with an attached garage • Five (5) 2-Bedroom / 1-Bath detached units Additional improvements include two rear garage structures offering a total of (6) garages, along with open onsite parking for tenants. Tenants pay their own gas and electricity, helping reduce owner operating expenses. The property spans two separate lots, with one parcel containing four units and the second parcel containing three units and additional parking areas. A long private driveway enhances tenant privacy and provides convenient access throughout the property. With no local city rent control, strong tenant demand, and significant long-term upside potential, this is an exceptional opportunity for investors seeking dependable cash flow and future appreciation in a highly sought-after rental market.
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Additional Information
- Pool Description
- None
- Fireplace Description
- Bath, Electric, Gas, Kitchen, Living Room, Outside
- Heat
- Wall Furnace
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- View
- None
- Exterior Construction
- Stucco
- Roof
- Asphalt
- Garage Spaces Total
- 8
- Sewer
- Public Sewer
- Water
- Public
- Interior Features
- Tile Counters, All Bedrooms Down, Multiple Primary Suites
- Attached Structure
- Detached
- Number Of Units Total
- 7
- Gross Scheduled Income
- $114,960
- Operating Expense
- 26900
Listing courtesy of Listing Agent: Mark Paulson (markpaulson@cox.net) from Listing Office: Berkshire Hathaway HomeService.
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Based on information from California Regional Multiple Listing Service, Inc. as of . 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.