Priced to sell at 9.65 GRM and 6.8% CAP with upside to 9 GRM and a 7.6% CAP. 9 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.8%). Located on a beautiful, quiet, tree lined street. The property was… Read More purchased in 2018 and completely remodeled down to the studs. Everything is new - plumbing, electric, interiors, windows, etc. - Seller spent over $400K total. The property is professionally managed and well maintained. There are 2 structures on the lot - 2 large 1 bedrooms in the front, and 7 studio units in the rear. The property also has 9 storage spaces that could be rented out for $75-100 per month each. There is onsite laundry as well. Qualified Buyers can put down as little as 25%. EARN OVER A 12% CASH ON CASH RETURN AGAINST IN PLACE RENTS. Contact LA for more info including a Rent Roll and OM. Read Less
Courtesy of The Agency 424-230-3700
Listing Snapshot
Days Online
11
Last Updated
Property Type
Other
Beds
2
Square Ft.
4,051
Lot Size
0.16 Acres
Year Built
1920
MLS Number
25631677
30 Days Snapshot Of 90813
$392k
0%
(avg) sold price
0
-100%
homes sold
82
0%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
None
Building
4,051 sq ft, Built in 1920, Levels: Two
Cooling
Wall Unit(s)
Disclosures
None
Garage
None
Heating
Wall
Lot
LotAcreage: 0.157, LotSizeArea: 6,841
Parking
TotalParking: 0
Property
NumberOfUnits: 9, Zoning: LBR2N
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