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$2,149,000
Est. payment /mo
17 Beds
9 Baths
6,892 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 6,892 sqft
Price per Sqft $311
MLS Listing ID 25590423
Bedrooms 17
HOA Y/N No
Year Built 1963
Lot Size 6,525 Sqft
Property Description
PRICED TO SELL - 9.8 GRM AND 6.7% CAP on in-place rents, with upside to a 9.0 GRM and 7.6% CAP. 9 units on the Eastside of Long Beach. Property was heavily rehabbed in 2020. 8 of 9 units were taken down to the studs with everything updated. Property has new windows, updated plumbing, electrical, kitchens and baths. Additionally, all new tile flooring was installed (that looks like wood laminate) which will last for years to come. Buyer to verify. Main Electric Panel is 400 AMPS - Buyer to verify. There is onsite laundry and the building is secured. There are 4 garages in the rear that could be rented for $125/garage or converted into 1-2 ADU's - Buyer to verify. There is also one garage in the front of the building. There are 2 potential Loan Options on the property. Option 1 - The Buyer can obtain a new loan with 25-30% down. Option 2 - Buyer can assume the existing, fully amortized loan of $1.830.000 fixed at 3.4% until November 2026 at which point it can adjust as much as 2.00%. This option allows a Buyer to purchase this property with less than 20% down. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.
Location
State CA
County Los Angeles
Area 9 - Poly High
Zoning LBR2N
Interior
Heating Wall Furnace
Fireplace No
Laundry Common Area
Exterior
Parking Features Assigned
Garage Spaces 5.0
Garage Description 5.0
Total Parking Spaces 5
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7261027007
Special Listing Condition Standard
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Listed by Jonathan Swire The Agency
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Devin McNichol & Aaron Bernbach
Agent | License ID: 02038322
Agent License ID: 02038322