1401 Willowbrook Ave Compton, CA 90220

Property Details for 1401 Willowbrook Ave

Year built

1948

Property size

2,443 SF

Property type

Land

Property subtype

Apartment buildings

Description

This exceptional investment opportunity presents a renovated four-plex located at 1401 S Willowbrook Ave, Compton, CA 90220. The property, situated on a sizable 9,794 square foot lot, consists of a four-bedroom, two-bathroom house and three one-bedroom, one-bathroom units. All units boast recent renovations, including new flooring, countertops, paint, doors, and appliances. Significant upgrades extend to the building's exterior, featuring new stucco and paint, wrought iron fencing with security gates, concrete walkways, and upgraded decking. Copper plumbing throughout ensures longevity and efficiency. Each unit includes gated parking and a large private storage room. The property's zoning (CORH) allows for the construction of additional dwelling units (ADUs), presenting a substantial opportunity to increase rental income. The existing structure offers a net operating income (NOI) of $54,217, with a pro-forma NOI projected at $188,552 after ADU development. This translates to a current cap rate of 4.52% and a pro-forma cap rate of 15.71%. The property's prime location near the Gateway Towne Center offers convenient access to major retailers. This is an ideal opportunity for owner-occupants or investors seeking significant upside potential in a thriving market. The asking price is $1,200,000, with a price per square foot of $491.20. The property features two buildings, each two stories high, built in 1948. The total square footage is 2,443 net rentable square feet. Renderings for potential ADUs are available. This property is a strong contender for various financing options.