2201 Compton Blvd Compton, CA 90221

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