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$ 1,325,000
Est. payment | /mo
6,804 Sqft Lot
$ 1,325,000
Est. payment | /mo
6,804 Sqft Lot
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Downtown (Dt)
MLS Listing ID PW24250938
HOA Y/N No
Year Built 1910
Lot Size 6,804 Sqft
Property Description
5 Unit apartment building on a large 6,800 SF lot in Long Beach! This property has 2 buildings, a front house consisting of a 4 Bedroom / 2 Bath ~1,398 SF and a separate back building ~ 2,100 SF consisting of 4 ALL 1-Bedroom/1-Bath units! This property has on ONSITE laundry room that brings in additional income! Parking for about 7 cars onsite! This property currently brings in $8,629/month in gross rental income. Currently operating at a CAP rate of 5.1 CAP and 12.6 X GROSS! This is great investment opportunity with upside potential through renovations/rent increases. Located close to downtown Long Beach, shopping and restaurants and offering easy access to Alamitos Beach, 4th Street!
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBR4R
Interior
Heating Wall Furnace
Cooling None
Fireplaces Type None
Fireplace No
Laundry Laundry Room
Exterior
Parking Features Asphalt, Driveway
Pool None
Community Features Suburban
Total Parking Spaces 7
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7274006008
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard
Listed by Kristina Moore • The Moore Group • 7148097608