Property listed by Buckingham Investments, Inc, Anthony Walker 310-561-4776
$1,495,000
Huge 6 unit campus property with three large units in front, Craftsman bungalow in the middle, and two brand new 2025 construction ADUs in the rear totalling 5707 rentable square feet on a 7500 square foot lot. Great unit mix averaging 950 square feet with one 5 bed, 2… Read More bath unit, four 2 bed, 1 bath units, and one 1 bed, 1 bath unit. Aggressively priced at $262/square foot, 9.8X GRM and 6.2% cap rate on actual rents plus an 8% upside to 9X GRM and 6.9% cap rate on market rents. Brand new electrical main panel. Skip the smaller properties and go straight to commercial positive leverage with rates in the high 5%'s and a 6.2% cap rate on actual rents.
Great location right in Downtown Long Beach just North of the East Village Arts District. Blocks away from St. Mary's hospital, Museum of Latin American Art, rail lines, and $8 billion of new development. Only 7 blocks to the beach. Read Less
Listing Snapshot
Days Online
1
Last Updated
Property Type
Apartment
Lot Size
0.17 Acres
Year Built
1912
MLS Number
SB25233581
Additional Details
Building
Built in 1912, 3 buildings, 2 stories, Levels: Two, Entry level: 1, Entry location: 1, Construction Materials: Stucco
ElectricityConnected, NaturalGasConnected, SewerConnected, WaterConnected, Water Source: Public, Standard, 6 separate electric meters, 6 separate gas meters
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