$700,000
$700,000
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8,067 Sqft Lot
SOLD DATE : 08/23/2023
Key Details
Sold Price $700,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 23293747
Sold Date 08/23/23
HOA Y/N No
Year Built 1941
Lot Size 8,067 Sqft
Property Description
1,888-SF commercial property located in South Gate. The property is currently occupied by a single tenant (California Construction Services) with their lease set to expire on October 31, 2023. This presents a desirable opportunity for an owner/user or an investor to lease the property to a new tenant at market rate. With exceptional visibility and a high volume of vehicular traffic, which exceeds 33,840 vehicles per day, the property presents an excellent opportunity for value-add investors. Furthermore, the property is situated on a large 8,066-SF which provides for ample parking and also presents future redevelopment potential for the property. This value-add investment opportunity presents an investor with the opportunity to realize significant upside potential by leasing the property to a new tenant as the current tenant's lease is set to expire. Alternatively, an owner/user can take advantage of attractive SBA financing options that require as little as a 10% down payment.The property is located on a major thoroughfare of South Gate with great frontage on Paramount Boulevard. The commercial area of South Gate is home to over 300 small businesses, most family owned. Situated in the heart of South Gate, 13308 Paramount Boulevard, stands to benefit from the city's population and growth. Within a 3-mile radius, there are over 400,000 residents and within a 5-mile radius there are over 1 Million residents.
Location
State CA
County Los Angeles
Area T4 - South Gate E Of 710
Zoning SGC3*
Interior
Fireplace No
Laundry None
Exterior
Total Parking Spaces 2
Building
Lot Description No Landscaping, Rectangular Lot
Story 1
Others
Tax ID 6264006008
Special Listing Condition Standard
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Bought with Abraham Sandoval • Investorforeclose Real Estate
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