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$ 950,000
Est. payment /mo
Active Under Contract
3535 Martin Luther King Jr BLVD Lynwood, CA 90262
7,248 Sqft Lot
UPDATED:
09/30/2024 06:46 PM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID SR17223206
HOA Y/N No
Year Built 1962
Lot Size 7,248 Sqft
Property Description
Hudson Partners has been exclusively retained to market the sale of this mixed-use opportunity. The Seller has vacated the second floor which is a legal three bedroom and two bath apartment, but being used a 4 bedroom with a single family home layout.
Buyer has a live/work opportunity or allowing an Investor to rent out at market rents. There is a +/- 550 sf two-car garage which Seller will vacate as well. This additional structure can be leased out providing another supplemental income stream. The first floor has three street level tenants, two Central American restaurants, and a Barbershop in the middle. An Investor can achieve over an 8 Cap Rate, with reasonable market rent assumptions. On the other hand, a retail business operator can purchase this property with 80% Owner-user conventional financing, if their intentions are to occupy the premises with the required percentage of 35%.
Buyer has a live/work opportunity or allowing an Investor to rent out at market rents. There is a +/- 550 sf two-car garage which Seller will vacate as well. This additional structure can be leased out providing another supplemental income stream. The first floor has three street level tenants, two Central American restaurants, and a Barbershop in the middle. An Investor can achieve over an 8 Cap Rate, with reasonable market rent assumptions. On the other hand, a retail business operator can purchase this property with 80% Owner-user conventional financing, if their intentions are to occupy the premises with the required percentage of 35%.
Location
State CA
County Los Angeles
Area Rm - Lynwood
Interior
Heating Forced Air
Fireplace No
Laundry Outside
Building
Lot Description Corner Lot
Story 2
Water Private
Others
Tax ID 6223003040
Special Listing Condition Standard
Listed by Jay Martinez • Hudson Commercial Partners, Inc. • 310-658-3375