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$ 1,175,000
Est. payment | /mo
7 Beds
6 Baths
$ 1,175,000
Est. payment | /mo
7 Beds
6 Baths
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision North Long Beach (Nlb)
MLS Listing ID PW25003991
Bedrooms 7
Property Sub-Type Res Income 2-4 Units
Property Description
**PRICE REDUCTION** Located on a quiet side street off one of the major thoroughfares in North Long Beach providing a great location and ease of commute for tenants. The property is close to local bus stops, multiple parks, and shopping centers, as well as The Michelle Obama Library. The property sits within 2 miles of both the 91 and 710 freeways. The property is also only a short drive to both downtown Long Beach and the Beach. This fourplex consists of a front building made up of three 1 Bed 1 Bath units each with a garage, and a rear building which is a detached 4 Bed 2 Bath house The rear house sits at ~1728 sqft. While the front building units average ~485 sqft. The tenants pay their own utilities, keeping the utilities low. This building is currently fully occupied and has had less than 3% vacancy over the last 3 years. Two of the units have been partially renovated during the most recent tenant transitions. This property also has storage and laundry room opportunities for potential sellers to build out. Price $1,250,000 Price/Unit $312,500 Price/sqft $408 Current Cap Rate 5.35% Market Cap Rate 6.26% Current GRM 16.62 Market GRM 14.43
Location
State CA
County Los Angeles
Zoning Public Rec
Direction Head South on Cherry Ave from route 91 and take a right on Washington street. It is the second property on the ride side.
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 7128032018
Listed by Perry Karn Southland Property Group
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