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$900,000
Est. payment /mo
4,260 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Subdivision Eastside (Es)
MLS Listing ID PW26179995
HOA Y/N No
Year Built 1912
Lot Size 4,260 Sqft
Property Sub-Type Triplex
Property Description
1636 N. Stanton Place presents the opportunity to acquire a well- located three-unit multifamily property in Long Beach offering attractive in-place cash flow, a diversified unit mix, and additional upside through future rent growth. Offered at $900,000, the property provides investors with a compelling combination of current yield and long-term income potential. The property consists of (1) 1BD/1BA unit, (1) 2BD/1BA unit, and (1) 3BD/1BA unit. Current monthly rents total $6,470, with projected market rents of $6,700 per month. The one-bedroom unit is currently rented at $1,670 compared with a projected market rent of $1,750, while the two-bedroom unit is rented at $2,000 compared with a projected $2,150. With only three units, the property offers investors a manageable multifamily asset with substantially greater income diversification than a single-family or duplex investment while retaining the operational simplicity of a small residential property. The varied unit mix further reduces reliance on any single tenant profile and creates multiple rent points within the property. For investors seeking a smaller multifamily acquisition with immediate income and identifiable upside, 1636 N. Stanton Place offers a compelling combination of a 5.93% going-in cap rate, rental growth potential, larger two- and three-bedroom floor plans, and
a $300,000-per-unit basis. As rents move toward projected market levels, investors have the opportunity to enhance NOI and overall property value while benefiting from strong in-place cash flow.
a $300,000-per-unit basis. As rents move toward projected market levels, investors have the opportunity to enhance NOI and overall property value while benefiting from strong in-place cash flow.
Location
State CA
County Los Angeles
Area 3 - Eastside, Circle Area
Interior
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Sidewalks
Total Parking Spaces 3
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7260013014
Energy Description 341.0
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
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Listed by Robert Stepp Keller Williams Realty Downey 310-463-2916, DRE #01456379
Nearby School & Business
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