Property listed by The Agency, Jonathan Swire 424-230-3700
$1,575,000
Priced to sell at 9.65 GRM and 6.8% CAP with upside to 9 GRM and a 7.6% CAP. 9 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.8%). Located on a beautiful, quiet, tree lined street. The property was… Read More purchased in 2018 and completely remodeled down to the studs. Everything is new - plumbing, electric, interiors, windows, etc. - Seller spent over $400K total. The property is professionally managed and well maintained. There are 2 structures on the lot - 2 large 1 bedrooms in the front, and 7 studio units in the rear. The property also has 9 storage spaces that could be rented out for $75-100 per month each. There is onsite laundry as well. Qualified Buyers can put down as little as 25%. EARN OVER A 12% CASH ON CASH RETURN AGAINST IN PLACE RENTS. Contact LA for more info including a Rent Roll and OM. Read Less
Listing Snapshot
Days Online
8
Last Updated
Beds
2
Square Ft.
4,051
Lot Size
0.16 Acres
Year Built
1920
MLS Number
25631677
Additional Details
Building
Built in 1920, Living area: 4051.0, 2 buildings, 2 stories, Levels: Two
Heating
WallFurnace
Income
Gross Income: $163,000, Net Operating Income: $110,000
Lot
0.157 acres
Parking
None
Taxes
Parcel Number: 7269030011, Zoning: LBR2N
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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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