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Listed by Christopher Crosby • Buckingham Investments, Inc
$1,389,000
Est. payment /mo
10 Beds
4 Baths
3,312 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 3,312 sqft
Price per Sqft $419
MLS Listing ID CRSB25172724
Bedrooms 10
Full Baths 4
HOA Y/N No
Year Built 1914
Lot Size 3,001 Sqft
Property Sub-Type Detached
Source Datashare California Regional
Property Description
4 renovated units located in downtown Long Beach, fully leased with gross scheduled rents over $110,000 per year! The property has an attractive unit mix of (2) 3-bedroom 1-bath units and (2) 2-bedroom 1-bath units. All 4 units have been meticulously renovated in 2023 including new flooring, cabinetry, Quartz countertops, light fixtures, wall heaters, water heater, sinks, appliances, blinds, and fresh paint. The property boasts a completely upgraded electrical system in 2023, including a full re-wire, new main service panel, and sub panels, as well as a 2024 Silicone white roof! The current owners have invested over $150,000 into property improvements, making it perfect for a turnkey investor. The property is individually metered for gas and electricity. Attractively priced at 12.47 GRM and a 5.3% cap rate with upside to 10.15 GRM and 7.0% pro forma cap rate!! Reach out today!
Location
State CA
County Los Angeles
Interior
Heating Wall Furnace
Cooling None
Fireplaces Type None
Fireplace No
Laundry None
Exterior
Pool None
View None
Private Pool false
Building
Story 2
Water Public
Schools
School District Long Beach Unified
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Altie Schmitt
Partner at Village Associates | License ID: 00924672
Partner at Village Associates License ID: 00924672
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