201 W Raymond Street, Compton, California 90220, Compton, 90220 - bed, bath
ACTIVE$899,000
201 W Raymond Street, Compton, California 90220
0Bed
0Bath
1,997Sqft
7,486Lot
Year Built
1929
Close
-
List price
$899K
Original List price
$899K
Price/Sqft
$450
HOA
-
Days on market
-
Sold On
-
MLS number
CV24253363
Home ConditionPoor
Features
View-
About this home
Possibly Over-Priced:The estimated price is 11% below the list price. We found 3 Cons,5 Pros. Rank: price - $899.0K(99th), sqft - 1997(95th), beds - undefined(1th), baths - undefined(1th).
Three fully rented units in close proximity to everything! In times when it is difficult to come across investment property you are invited to entertain these three units with ample parking. 201, 201 1/2, 203 W Raymond St. Two separate buildings house 2 bedrooms / 1 bath rent collected $1,900, 2 bedrooms / 1 bath rent collected $1,900 and a 1 bedroom / 1 bath rent collected $1,200. Seller has prepared for the sale and he is ready to go!!!
Price History
Date
Event
Price
12/23/24
Listing
$899,000
10/23/03
Sold
$275,000
02/11/03
Sold
$230,500
11/07/97
Sold
$158,000
Condition Rating
Poor
Built in 1929, this multi-unit property shows significant age and deferred maintenance. The kitchens feature very dated tile flooring, painted cabinets, and older appliances, indicating no major renovations in many decades. The overall interior condition, including basic flooring and fixtures, suggests substantial rehabilitation is required to meet modern living standards. While currently rented, the property's components are well past their expected lifespan and show considerable wear, aligning with the 'Poor' condition criteria.
Pros & Cons
Pros
Income-Generating Asset: The property features three fully rented units, generating a combined monthly income of $5,000 ($1,900 + $1,900 + $1,200), providing immediate and substantial cash flow for an investor.
Multi-Unit Configuration: Comprising two 2-bedroom/1-bath units and one 1-bedroom/1-bath unit across two separate buildings, this offers diversified rental income streams and reduced vacancy risk compared to a single-family rental.
Ample Parking: The availability of ample parking is a significant advantage for a multi-unit property, enhancing tenant convenience and desirability in an urban setting.
Convenient Location: Described as being 'in close proximity to everything,' the property's location suggests easy access to amenities, transportation, and services, which is attractive to tenants.
Motivated Seller: The seller's stated readiness to sell ('Seller has prepared for the sale and he is ready to go!!!') indicates potential for a streamlined transaction and possibly negotiation flexibility.
Cons
Age of Property & Potential for Capital Expenditures: Built in 1929, the property is nearly a century old, suggesting a high probability of requiring significant capital investment for updates to major systems (e.g., plumbing, electrical, roofing) and general deferred maintenance.
Zoning/Permitting Discrepancy: The property is listed as 'Single Family Residence' sub-type, yet described as 'Three fully rented units' in 'Two separate buildings.' This critical inconsistency requires immediate verification of legal zoning and permits for multi-unit use, as non-compliance could lead to severe legal and financial repercussions.
Lack of Condition Details: The property description provides no information regarding the current condition of the units, recent renovations, or maintenance history, implying a potential 'as-is' sale that would necessitate extensive buyer due diligence and likely immediate repair costs.