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$1,389,000
Est. payment /mo
10 Beds
4 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Downtown (Dt)
MLS Listing ID SB25164581
Bedrooms 10
Property Sub-Type Res Income 2-4 Units
Property Description
4 renovated units located in downtown Long Beach, with gross scheduled rents over $110,000 per year! Attractively priced at 12.47 GRM and a 5.3% cap rate with upside to 10.15 GRM and 7.0% pro forma cap rate!! The current owners have invested over $150,000 into property improvements, making it perfect for a turnkey investor. The property has an attractive unit mix of (2) 3-bedroom 1-bath units and (2) 2-bedroom 1-bath units. All 4 units have been meticulously renovated in 2023 including new flooring, cabinetry, Quartz countertops, light fixtures, wall heaters, water heater, sinks, appliances, blinds, and fresh paint. The property boasts a completely upgraded electrical system in 2023, including a full re-wire, new main service panel, and sub panels, as well as a 2024 Silicone white roof! The property is individually metered for gas and electricity. Reach out today!
Location
State CA
County Los Angeles
Zoning Public Rec
Direction E 8th St and Atlantic Ave
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 7274016016
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Listed by Christopher Crosby Buckingham Investments, Inc
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