South Gate, CA 90280,8400 State ST

$2,800,000

Est. payment /mo

$2,799,000

Est.Price: ?

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8400 State ST South Gate, CA 90280

9,555 SqFt

SOLD DATE : 12/22/2022

Key Details

Sold Price $2,800,000

Property Type Commercial

Sub Type Mixed Use

Listing Status Sold

Purchase Type For Sale

Square Footage 9,555 sqft

Price per Sqft $293

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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California Regional MLS (CRMLS)
Listed by Andres Diaz • Keller Williams Downtown LA
Bought with Andres Diaz • Keller Williams Downtown LA

Alexander Duarte

CEO | i01970077

+1(714) 376-9253

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