1439 Address Not Published Ave

    Long Beach, CA 90813
    • $3,095,000
    • STATUS: Active
    • ON SITE: 136 days
    • ID#: 20-542308
    UPDATED: 28 min ago
    $3,095,000
    • 18
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 10,080
      SQFT
    • $307
      $/SQFT
    Type:
    Multi-Family
    Built:
    1928
    County:

    School Ratings & Info

    Description

    16 units located in South Long Beach. All units are 1 bed/1 bath. The property is professionally managed and and has been heavily remodeled. Rents in Long Beach have been increasing rapidly and tenants are willing to pay for remodeled product. The current owner has spent over $200,000 on improvements including new landscaping, new water heater and completely remodeled all unit interiors. Unit interiors received new paint, laminate flooring, ceaserstone countertops and new fixtures. This is a perfect asset for someone looking to acquire a rehabbed, stabilized property that is cash flowing. Additionally, there is some rental upside by leveling the rents at market.Rental upside to a 5.1% CAP by leveling all rents at $1295/month. There is onsite laundry and 4 private garages that could rent for $100/month each. EMAIL Listing Agent for a complete package including a RR. Listing Agent is a member of the Selling Entity.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-05-29T15:42:13.017. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.lydiagable.com/homes/102253295

    1439 Address Not Published Ave Long Beach, CA 90813

    • Price: $3,095,000
    • Status: Active
    • Updated: 28 min ago
    • ID#: 20-542308
    18
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    10,080
    SQFT
    $307
    $/SQFT
    1928
    Built
    Neighborhood:
    Downtown Area, Alamitos Beach
    County:
    Los Angeles
    Area:
    Downtown Area, Alamitos Beach
    Property Description
    16 units located in South Long Beach. All units are 1 bed/1 bath. The property is professionally managed and and has been heavily remodeled. Rents in Long Beach have been increasing rapidly and tenants are willing to pay for remodeled product. The current owner has spent over $200,000 on improvements including new landscaping, new water heater and completely remodeled all unit interiors. Unit interiors received new paint, laminate flooring, ceaserstone countertops and new fixtures. This is a perfect asset for someone looking to acquire a rehabbed, stabilized property that is cash flowing. Additionally, there is some rental upside by leveling the rents at market.Rental upside to a 5.1% CAP by leveling all rents at $1295/month. There is onsite laundry and 4 private garages that could rent for $100/month each. EMAIL Listing Agent for a complete package including a RR. Listing Agent is a member of the Selling Entity.
    Exterior Features

    Lot Size Area 7433 Other Structures None Parking Garage Garage Is Detached Pool YN No Tennis YN No Total Parking 4

    Interior Features

    Baths Total 16.00 Cooling Ceiling Fan Den No Dining Room No Equipment None Family Room No Heating Wall

    Property Features

    Gross Income 241800 Gross Operating Income 241800 Like Units1 16 Net Operating Income 145000.00 Number Of Buildings 1 Number Of Units 16 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 90000 Type Of Units Income Zoning Lbr4n

    Listing provided courtesy of Jonathan Swire DRE#01336277 of The Agency.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-05-29T15:42:13.017. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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