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$ 1,995,000
Est. payment | /mo
4 Beds
4 Baths
6,691 Sqft Lot
$ 1,995,000
Est. payment | /mo
4 Beds
4 Baths
6,691 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26242091
Bedrooms 4
Lot Size 6,691 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Amazing 7.4% in-place yield plus a 10% upside to an 8.4% cap rate at market! 1953-built, 10-unit property in a dense, high-demand rental area of Long Beach. 8.9X GRM on current rents and 8.1X GRM at market for postwar units under $200K/door. Strong unit mix: (8) 1 bed / 1 bath and (2) 2 bed / 1 bath units. 4 of 10 units just remodeled with new flooring, lighting, kitchens and bathrooms. Community laundry room plus 4 garages for added income or ADU conversion potential. All units separately metered for gas and electricity. Directly across from Washington Middle School, currently undergoing a $176 million reconstruction. Just a few blocks to the Metro Blue Line rail station, PCH and the 710 Freeway. Over 60% of households within 5 miles are renters with an average household income of over $94,000 (Costar).
Location
State CA
County Los Angeles
Zoning Public Rec
Direction West side of Cedar, North of Anaheim.
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7269041021
Listed by Anthony Walker, DRE#01908153 Buckingham Investments, Inc
Co-listed byJosh Ess • Buckingham Investments, Inc
Co-listed byJosh Ess • Buckingham Investments, Inc
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