Located in the heart of Long Beach, 15 unit apartment building majority 2 bedrooms (10) and five 1 bedrooms. This building offers a prime investment opportunity with upside in rents. With a diverse pool of tenant base looking for affordable housing there's sure to be a stream of renters. There… Read More is also opportunity for additional income with garage spaces as well as potential RUBS income, one side of the building is master metered. Recent cap ex includes a new roof over the 500 side of the property and roof update to the 520 side. All new paint over the entire building. Hand Railings were reinforced on the second floor, walkways were also updated and re done. New flooring in the laundry rooms, a new 100 gallon water heater on the 500 side. And 90% of the units have vinyl plank, all recently installed. With all the work being done recently there is still opportunity for an investor to increase rent and add additional income. Read Less
Property listed by VPMI, INC., Daniel Talamentes 562-665-2066
Listing Snapshot
Days Online
14
Last Updated
Property Type
Apartment
Lot Size
0.17 Acres
Year Built
1963
MLS Number
PW25062894
Additional Details
Sewer
PublicSewer
Building
Built in 1963, Building area total: 11,322, Levels: Two, 2 stories, 5 buildings, Architectural style: , Attached, Common walls: TwoCommonWallsOrMore
Community
Suburban
Expenses
Electric expense: $12,192, Fuel expense: $100, Insurance expense: $9,800, Operating expense: $142,000, Trash expense: $10,000, Water sewer expense: $33,171
Garage
11 spaces
Heating
FloorFurnace
Income
Gross income: $302,223, Net operating income: $146,382
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.
