Property listed by Del Rey Realty, Monica Calzada 310-415-2039
$950,000
Four-unit multifamily investment opportunity located near Downtown Long Beach. Built in 1918, this fourplex offers approximately 3,192 square feet of living space on a 2,505-square-foot lot. The property consists of four units originally configured as 1-bedroom, 1-bathroom residences, with two units featuring an additional bedroom each. The permit status of… Read More the additional bedrooms has not been verified.
Three units are currently tenant-occupied, generating a combined monthly rental income of $5,800. The fourth unit is vacant, offering an opportunity for additional rental income. Estimated rental income for the vacant unit ranges from $1,800 to $2,000 per month, potentially bringing total gross monthly rental income to approximately $7,600–$7,800.
Based on estimated annual operating expenses, including property taxes, insurance, utilities, and maintenance, the property currently generates an estimated Net Operating Income (NOI) of $41,374 annually, representing a 4.36% cap rate at the $950,000 asking price. This reflects the current rental income from three occupied units.
If the vacant unit is leased at a projected $2,000 per month, the property could generate approximately $64,174 in annual pro forma NOI, representing a 6.76% pro forma cap rate, based on adjusted maintenance expenses. These estimates exclude vacancy allowances, property management, capital expenditures, and financing costs. Actual results may vary.
Conveniently located near Downtown Long Beach, shopping, dining, and public transportation. Property is being sold strictly AS-IS, in its present condition. Seller makes no representations or warranties regarding property condition, square footage, permits, improvements, unit configurations, or rental income. Buyer to conduct their own independent investigations and verify all information to their satisfaction. Read Less
Listing Snapshot
Days Online
1
Last Updated
Property Type
Quadruplex
Square Ft.
3,192
Lot Size
0.06 Acres
Year Built
1918
MLS Number
SB26239242
Additional Details
Building
Built in 1918, 1 building, 2 stories, Levels: Two, Entry level: 1, Entry location: 9th st
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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