See all 16 photos
16 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.
In-PersonVirtual Tour
$1,899,000
Est. payment /mo
2 Beds
12 Baths
5,036 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 5,036 sqft
Price per Sqft $377
MLS Listing ID 26104579
Bedrooms 2
HOA Y/N No
Year Built 1923
Lot Size 7,422 Sqft
Property Description
PRICED TO SELL - 8.9 GRM AND 7.5% CAP. EARN OVER A 10% CASH ON CASH RETURN on in place rents. 12 Units on the Westside of Long Beach close to Downtown, subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7% total). 1 story, bungalow style building completely remodeled down to the studs. New electrical, plumbing, kitchens, baths, lighting, etc. - Buyer to verify. Seller spent over $600K on the remodel. The property is professionally managed and features an excellent unit mix of studio and 1 bed units. There is no onsite parking but plenty of street parking. A new owner can level rents to market and be at a 8.7 GRM and 7.8% CAP. The property features a Walkscore of 85 and is a just a few minutes walk from Downtown and the Metro station. There has been over $8BB in redevelopment in Long Beach in the past 10 years including a ton of new class A apartments and restaurants. The property is also conveniently located close to the 710 Freeway providing access to employment throughout LA and Orange County. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. The Long Beach Airport is also undergoing a $37MM remodel in preparation for the 2028 Olympic Games. Excellent lender financing is available for qualified Buyers at 30% down, 6.1% fixed for 5 years, Interest Only.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBPD10
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features None
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 7272003006
Special Listing Condition Standard
Read Less Info
Listed by Jonathan Swire The Agency #01336277
MORTGAGE CALCULATOR
Use our home loan calculator to estimate your total mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment, and details about the home loan, to calculate your mortgage payment, schedule, and more.
Payment
Schedule
Your mortgage payments over 30 years will add up to $0.
Get more info from a local expert!
NEARBY SCHOOL & BUSINESS
GET MORE INFORMATION