Address Not Available By Request

    Long Beach, CA 90813
    • $3,095,000
    • STATUS: Active
    • ON SITE: 78 days
    • ID#: 20542308
    UPDATED: 115 min ago
    $3,095,000
    • 18
      BEDS
    • 0.17
      ACRES
    • 16
      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 CRISNet MLS as of 2020-03-31T23:42:56.237. 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.

    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-03-31T23:42:56.237. 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.

    Based on information from the Conejo Simi Moorpark Association of Realtors as of 2020-03-31T23:42:56.237. 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.

    Based on information from the i-Tech MLS as of 2020-03-31T23:42:56.237. 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.

    Licensed in the State of California, USA.
    www.lydiagable.com/homes/102253295

    Address Not Available By Request Long Beach, CA 90813

    • Price: $3,095,000
    • Status: Active
    • Updated: 115 min ago
    • ID#: 20542308
    18
    Beds
    16
    Baths
    0
    ½ Baths
    0.17
    Acres
    10,080
    SQFT
    $307
    $/SQFT
    1928
    Built
    Neighborhood:
    Downtown Area, Alamitos Beach (4)
    County:
    Los Angeles
    Area:
    Downtown Area, Alamitos Beach (4)
    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

    Parking Spaces Total 4 Parking Type Garage Is Detached

    Interior Features

    Appliances None Cooling Type Ceiling Fan(S) Heating Type Wall Heater Total Floors 2 Unit Furnished01 Unfurnished Unit Furnished02 Partially Unit Furnished03 Partially Unit Furnished04 Partially Unit Furnished05 Partially Unit Furnished06 Partially Unit Furnished07 Partially Unit Furnished08 Partially Unit Furnished09 Partially Unit Furnished10 Partially Unit Furnished11 Partially Unit Furnished12 Partially Unit Furnished13 Partially Unit Number Of Bath01 1.0 Unit Number Of Bed01 1

    Property Features

    Adjusted Gross Income 241800.00 Assessed Improvement Value 1377204.00 Assessed Land Value 612000.00 Country United States Of America Expense Total Annual 90000.00 Gross Operating Income 241800.00 Gross Rent Multiplier 12.80 Hoa YN N Legal Disclosures Take Property As IsProperty Report Lot Size Source Vendor Enhanced Net Operating Income 145000.00 Number Of Buildings 1 Special Conditions Standard Sale Square Footage Source Vendor Enhanced Unit Monthly Rent01 1250.00 Unit Projected Total Monthly Rent01 19600.00 Unit Total Monthly Rent01 19600.00 Unit Type01 16 Units Total In Complex 16 Zoning Lbr4n

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


    Based on information from CRISNet MLS as of 2020-03-31T23:42:56.237. 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.

    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-03-31T23:42:56.237. 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.

    Based on information from the Conejo Simi Moorpark Association of Realtors as of 2020-03-31T23:42:56.237. 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.

    Based on information from the i-Tech MLS as of 2020-03-31T23:42:56.237. 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.

    Licensed in the State of California, USA.
     
    Lydia Gable Realty Group | Compass
    2945 Townsgate Road Suite 300
    Westlake CA, 91361