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Additional details
Listed by Kristina Moore • The Moore Group
$1,199,000
Est. payment /mo
3,498 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 3,498 sqft
Price per Sqft $342
MLS Listing ID CRPW24250938
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1910
Lot Size 6,802 Sqft
Property Sub-Type Other
Property Description
REDUCED PRICED TO SELL TODAY!!! FIRST TIME BEING SOLD IN 31 YEARS! 5 Unit apartment building on a large 6,800 SF lot in Long Beach! This property has 2 buildings, a front house consisting of a 4 Bedroom / 2 Bath ~1,398 SF and a separate back building ~ 2,100 SF consisting of 4 ALL 1-Bedroom/1-Bath units! This property has on ONSITE laundry room that brings in additional income! Parking for about 7 cars onsite! This property currently brings in $8,629/month in gross rental income. Currently operating at a CAP rate of 5.8 CAP and 13 X GROSS! This is great investment opportunity with upside potential through renovations/rent increases. Located close to downtown Long Beach, shopping and restaurants and offering easy access to Alamitos Beach, 4th Street!
Location
State CA
County Los Angeles
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Laundry Laundry Room
Building
Water Public
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Vicky Van Brocklin
Broker | License ID: 01512910
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