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$1,995,000
Est. payment /mo
14 Beds
9 Baths
6,395 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,395 sqft
Price per Sqft $311
MLS Listing ID 25528237
Bedrooms 14
HOA Y/N No
Year Built 1936
Lot Size 9,683 Sqft
Property Description
PRICE REDUCED AND READY TO SELL. Priced to sell at 10.1 GRM and 6.5% CAP with upside to 9.4 GRM and a 7.2% CAP. 9 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.8%). Located on the West Side blocks from Downtown Town where over $8BB of redevelopment is occurring. On a beautiful, quiet, tree-lined street. The property is professionally managed and well-maintained. All units have their own private parking included, and most have a private outdoor patio. All have W/D hookups. All units have their own water heater. A new owner can raise rents to market and achieve a 9.4 GRM and 7.2% CAP. Earn over a 9.5% cash-on-cash return at market rents. Qualified Buyers can put as little as 30% down. EMAIL LISTING AGENT FOR MORE INFO, INCLUDING A RENT ROLL AND OM.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBPD10
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Parking Features Assigned
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7272004034
Special Listing Condition Standard
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Listed by Jonathan Swire • The Agency