Active
$1,199,000
10%
5 Units
8 Beds
6 Baths
3,498 Area(sq.ft.)
Lot: 6,802 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 4 | 2 | No | $ 2,186 | $ 2,186 | $ 2,374 |
| Unit 2 | 1 | 1 | 1 | No | $ 1,743 | $ 1,743 | $ 1,893 |
| Unit 3 | 1 | 1 | 1 | No | $ 1,540 | $ 1,540 | $ 1,672 |
| Unit 4 | 1 | 1 | 1 | No | $ 1,647 | $ 1,647 | $ 1,789 |
| Unit 5 | 1 | 1 | 1 | No | $ 1,513 | $ 1,513 | $ 1,643 |
| 5 | 8 | 6 | $ 8,629 | $ 8,629 | $ 9,371 |
| MLS #: | PW24250938MR |
| Days On Market: | 361 |
| Listing Date: | December 18, 2024 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 343 |
| Price per unit: | $ 239,800 |
| Year Built: | 1910 |
Property Details
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!Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Rent Control: | Yes |
| Total Annual Expense: | $ 0 |
| Net Operating Income: | $ 67,306 |
| Actual Gross Rent: | $ 8,629 |
Structure
| Community Features: | Suburban |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Zoning: | LBR4R |
| Land Lease Type: | Fee |
| Parking Garage: | Driveway |
Interior
| AC/Cooling: | None |
| Heating: | Wall |
| Fireplace Rooms: | None |
| Laundry: | Room |
| Laundry Income: | 150.00 |
Exterior
| Pool: | No |
Detailed Map
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Income
