This 15-unit apartment building in Compton, CA, presents a compelling investment opportunity. The property, built in 1963, comprises 10,209 square feet on an 11,297 square foot lot and features a mix of fourteen one-bedroom/one-bathroom units and one two-bedroom/one-bathroom unit. All units are currently occupied at 100% occupancy. The building boasts a secured, gated courtyard style, and includes 14 single-car garages for tenant convenience. The property benefits from its location on Compton Boulevard, a major thoroughfare providing easy access to shopping, dining, and entertainment. Its proximity to major freeways (91 & 710) and a Metro line ensures convenient transportation throughout Los Angeles County. The asking price is $2,500,000, representing $166,667 per unit and $244 per square foot. The current Net Operating Income (NOI) is $148,768, yielding a 5.95% cap rate. A pro-forma NOI of $208,969 projects an 8.36% cap rate. The property is subject to AB-1482, California's rent control law, allowing for annual rent increases of 5% plus CPI. Currently, there are no subsidized tenants, offering a 25% potential rental upside without utilizing subsidy programs. Further upside potential exists through programs like the Housing Choice Voucher (HCV) program, with maximum voucher amounts of $1,921 for one-bedroom units and $2,222 for two-bedroom units. Each unit has an individual electric water heater and electric meter
Highlights
15-unit apartment building in Compton, CA, built in 1963.
Two-story, secured, gated courtyard building.
Unit mix: 14 one-bedroom/one-bathroom, 1 two-bedroom/one-bathroom.
Subject to AB-1482 (California's rent control), allowing 5% annual rent increases plus CPI.
$2,500,000 asking price; $166,667 per unit; $244 per square foot; 5.95% cap rate (pro-forma 8.36%).
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Kyle Mirrafati
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2201 Compton Blvd, Compton, California, 90221
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2201 Compton Blvd
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