14901 Gagely Drive, La Mirada, CA 90638
- $2,300,000
- Sold Price
- $2,300,000
- List Price
- $2,430,000
- Closing Date
- Jan 23, 2024
- Status
- CLOSED
- MLS#
- OC23203111
- Year Built
- 1960
- Lot Size
- 8,712
- Acres
- 0.20
- Lot Location
- 6-10 Units/Acre, Cul-De-Sac
- Days on Market
- 67
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- Two Levels
Property Description
5.4% Current CAP! The Parkside Apartments is nestled at the end of a tranquil cul-de-sac. This property also enjoys a prime location near the bustling retail intersection of Imperial Highway and La Habra Boulevard, making it a prime choice for residents seeking convenience and accessibility. In addition to its coveted location, The Parkside Apartments are strategically positioned to take full advantage of the high-demand rental market in La Mirada. This city boasts a scarcity of multifamily rental options including the scarcity of 1-bedroom units in the area, which underscores the limited opportunities for those seeking such accommodations. Additionally, the multifamily market’s supply constraints have created a unique situation for investors, with few properties available for acquisition in this city. The Parkside Apartments feature an appealing unit mix, consisting of eight 1-bedroom units and one 3-bedroom, 1.75-bath townhome unit. Currently, these units are rented at below-market rates in their existing condition. This presents an exceptional opportunity for a new owner to realize substantial rental income increases without the need for costly physical upgrades. In summary, The Parkside Apartments offer not only an outstanding location but also the potential for significant financial growth in a rental market with limited options, making it a lucrative investment opportunity for the discerning investor.
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Additional Information
- Appliances
- Disposal, Gas Oven, Gas Range, Range Hood
- Pool Description
- None
- Heat
- Natural Gas
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- View
- Courtyard
- Exterior Construction
- Stucco
- Roof
- Shingle
- Garage Spaces Total
- 3
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 9
- Gross Scheduled Income
- $193,680
- Operating Expense
- 59736
Listing courtesy of Listing Agent: Mark Bridge (Mark.Bridge@cushwake.com) from Listing Office: Mark Bridge, Broker.
Listing sold by Vance Nordine from Nordine Realty, Inc
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.