334 E 220th St, Carson, CA 90745

Property Description

This five-unit property, located at 334 E 220th St in Carson, CA, presents a unique investment opportunity with substantial upside potential. The property consists of two front houses, each 1,305 square feet with attached two-car garages, built in 1973, and three spacious apartment-style units in the back, built in 1981. The back units include one 1,535-square-foot unit and two 1,390-square-foot units, offering a total of 6,925 square feet of living space on an expansive 18,709-square-foot lot. Listed at $2,200,000, this well-positioned asset is priced at $440,000 per unit and $318 per square foot. Currently, the property generates $13,900 per month and $166,800 annually in rental income, with the potential to increase to $16,750 per month and $201,000 per year at market rent levels. The back house is currently vacant, while all other tenants are on month-to-month leases, providing flexibility for new ownership. Although the property has not undergone recent renovations, it is in good condition, with significant potential for value-add opportunities. The large lot and existing garage spaces offer excellent potential for additional development, such as the construction of ADUs in the garage spaces or in the back/side yard areas. The property includes six single-car garages for the back units and two two-car garages for the front houses, further enhancing its appeal. Rents are due for an immediate increase upon new ownership. This property offers investors the chance to acquire a well-maintained asset with significant upside in a highly desirable location.