1532 W Compton Blvd, Compton, CA 90220

Property Description

Pro Forma CAP rate of 7.88%. We are pleased to present the opportunity to acquire 1524 & 1532 West Compton Boulevard, a mixed-use apartment and retail investment opportunity located in Compton, California. The property consists of two parcels and includes (5) apartment units and (1) store front retail space. Built in 1941, the five apartment units are contained in four single story buildings and have approximately 3,152 rentable square feet. The units consists of (one) studio/one bathroom, (two) one bedroom/one bathroom and (two) two bedroom/one bathroom floorplans. The property features gated access and open space parking. Constructed in 1947, the retail store front building has approximately 1,660 square feet of rentable space. In addition, the retail unit has high street visibility and features a roll up security door. The combined lot size is 11,688 square feet. 
 
 This is a value-add opportunity for an astute investor to lease up the retail space, improve the property condition while increasing the apartment rents yielding a Pro Forma CAP rate of 7.88%. The previous retail tenant who was in the space for approximately 20 years was paying $2,575 per month. We put a conservative retail rent in our underwriting at $2,075 per month.