851 Martin Luther King Jr Ave Long Beach, CA 90813
Active
$1,595,000
4 Units
Beds
10 Baths
4,600 Area(sq.ft.)
5,600 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 4 | 2.50 | No | $ 3,032 | $ 3,032 | $ 3,500 |
| Unit 2 | 1 | 4 | 2.50 | No | $ 3,032 | $ 3,032 | $ 3,500 |
| Unit 3 | 1 | 2 | 2 | No | $ 2,625 | $ 2,625 | $ 2,750 |
| Unit 4 | 1 | 2 | 2 | No | $ 2,700 | $ 2,700 | $ 2,750 |
| 4 | 4 | 12 | 10 | $ 11,389 | $ 11,389 | $ 12,500 |
| MLS #: | 24-457289 |
| Days On Market: | 15 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 347 |
| Price per unit: | $ 398,750 |
Property Details
Guaranteed rental cash-flow. Building #1 has 2 units, 4bd 2.5 ba each, constructed in 1980. Building #2, has 2 units, 2 bd 2 ba each, constructed 2022. Drive by ONLY. Under NO circumstance you should disturb tenants. Do not go on property. Each unit has separate utilities, additionally each unit has their own laundry area. 2 of the tenants are HUD Section 8 and the other 2 regular. Well maintained. The property has 2 addresses, 845 MLK, built in 2022 and 851 MLK, built in 1980.Interested in this Listing?
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Income Details
| Gross Operating Income: | $ 136,668 |
| Total Annual Expense: | $ 21,552 |
| Net Operating Income: | $ 115,116 |
| Gross Annual Income: | $ 136,668 |
| Cap Rate: | 7.2% |
| Gross Rent Multiplier: | 12.00 |
Structure
| Type of Units: | Townhouse |
| Buildings: | 2 |
| Levels: | Two |
Land & Parking
| Parking Garage: | Driveway - Concrete |
Interior
| AC/Cooling: | Air Conditioning |
| Equipment: | Microwave, Hood Fan, Garbage Disposal, Range/Oven |
| Heating: | Central |
Exterior
| Exterior Construction: | Frame, Stucco |
| Roof: | Composition |
Detailed Map
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