PRICE REDUCED AND READY TO SELL. Priced to sell at 10.1 GRM and 6.5% CAP with upside to 9.4 GRM and a 7.2% CAP. 9 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.8%). Located on the West… Read More Side blocks from Downtown Town where over $8BB of redevelopment is occurring. On a beautiful, quiet, tree-lined street. The property is professionally managed and well-maintained. All units have their own private parking included, and most have a private outdoor patio. All have W/D hookups. All units have their own water heater. A new owner can raise rents to market and achieve a 9.4 GRM and 7.2% CAP. Earn over a 9.5% cash-on-cash return at market rents. Qualified Buyers can put as little as 30% down. EMAIL LISTING AGENT FOR MORE INFO, INCLUDING A RENT ROLL AND OM. Read Less
Property listed by The Agency, Jonathan Swire 424-230-3700
Listing Snapshot
Days Online
44
Last Updated
Property Type
Other
Beds
14
Square Ft.
6,395
Lot Size
0.22 Acres
Year Built
1936
MLS Number
25528237
Additional Details
Building
Built in 1936, Building area total: 6,395, Levels: Two, Living area: 6395, 2 stories, 5 buildings
Cooling
None
Heating
WallFurnace
Income
Gross income: $198,000, Net operating income: $129,000
Lot
0.2223 acres, 9,685 square feet, Size: 9,685
Parking
Assigned
Property
Zoning: LBPD10
Find The Perfect Home
'VIP' Listing Search
Whenever a listing hits the market that matches your criteria you will be immediately notified.
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Confirm your time
Fill in your details and we will contact you to confirm a time.
