2201 Compton Blvd Compton, CA 90221
- Apartment buildings
- 10,209 SF
- 0.26 lot acres
Jan 10, 2025
Current Use by Public Records
- Christ St John Baptist Church / Church
Property Details for 2201 Compton Blvd
- Year built
- 1963
- Construction
- WOOD
- Lot size
- 0.26 lot acres
- Property size
- 10,209 SF
- Zone code
- CORL*
- Property type
- Apartment buildings
- APN
- 6183-018-029
- APU
- 6183018029
Description
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
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,185,000
- ML approach
- $2,150,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,740,000
- 6.5%
- $2,525,000
- 7%
- $2,345,000
-
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $2,195,000 Current use
- WAREHOUSE, STORAGE
- $3,500,000 Change: +60% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $2,320,000 Change: +6% Conversion: Moderate
- AUTO REPAIR, GARAGE
- $2,280,000 Change: +4% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Compton
- County
- Los Angeles
- State
- California
- Longitude
- -118.199
- Latitude
- 33.8964
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
