1058 Molino ave, Long Beach, CA 90804
Active
$1,620,000
10%
9 Units
3 Beds
3 Baths
4,776 Area(sq.ft.)
Lot: 6,534 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 3 | studio | 1 | No | $ 4,145 | $ 4,145 | $ 4,785 |
| Unit 2 | 5 | 1 | 1 | No | $ 7,295 | $ 7,295 | $ 8,975 |
| Unit 3 | 1 | 2 | 1 | No | $ 1,575 | $ 1,575 | $ 2,295 |
| 9 | 7 | 9 | $ 50,485 | $ 50,485 | $ 61,525 |
| MLS #: | OC25053698MR |
| Days On Market: | 39 |
| Listing Date: | March 11, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 339 |
| Price per unit: | $ 180,000 |
| Year Built: | 1925 |
Property Details
1058 Molino Avenue is a 9-unit multifamily investment property located in Long Beach, CA. Built in 1925, 1058 Molino Avenue offers a diverse mix of studio, one, and two-bedroom units. The property features unique architecture with a mix of eight, single-story units and one, two-story townhome unit. Furthermore, the gated property features an on-site laundry facility, a highly sought after amenity that provides ownership with an additional revenue stream. Situated in the Zaferia neighborhood of Long Beach, 1058 Molino Avenue s central Long Beach location provides residents with convenient access throughout the city. Located just a short walk from the property is Orizaba Park, a 3.72-acre public park offering a soccer field, a skate park, a basketball court, and a spacious community center. The property s location also provides walkable access to daily necessities at the Food 4 Less and Rite Aid anchored Belmont Center. Additionally, the property is just over half-a-mile from Retro Row and just over 1.25 miles from Traffic Circle, providing residents easy access to an abundance of retail, dining, & entertainment options. Furthermore, 1058 Molino Avenue is just over 2.20 miles from Veteran Affairs Medical Center and California State University, Long Beach, two of the city s premier employers. The property s ideal Long Beach location surrounded by an abundance of area amenities is a primary draw for potential renters. This overall demand for well-located rental units will be a key driver in the continued growth and success at 1058 Molino Avenue.Interested in this Listing?
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Income Details
| Rent Control: | False |
| Gross Operating Income: | $ 151,495 |
| Total Annual Expense: | $ 61,890 |
| Net Operating Income: | $ 93,604 |
| Cap Rate: | 5.67% |
| Gross Rent Multiplier: | 10.23 |
Structure
| Community Features: | Curbs, Gutters, Sidewalks |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Zoning: | LBR2N |
| Land Lease Type: | Fee |
Interior
| Laundry: | Community |
| Laundry Income: | 2182.00 |
Exterior
| Pool: | No |
Detailed Map
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Income
