We are pleased to present 1000 E 10th St in Long Beach. This 7 unit apartment building consists of (7) 2 bedroom, 1 bathroom units which have been updated and converted into higher density dwelling units. Privacy walls and doors have been added to accommodate an additional bedroom… Read More in each unit. A total of 21 bedrooms are possible to rent out, and currently 11 of those bedrooms are actively rented. There is a possibility of delivering 4 out of the 7 units vacant. This property has a total of 5,340 sqft of livable space, situated on a 5,227 sqft lot. The owners have formed authentic relationships with local government, law enforcement, and various low-income programs such as the General Relief Housing Subsidy and Case Management Programs in order to maintain a reliable resource for tenants. The property is located in close proximity to the Metro Blue Line train station and various bus routes providing excellent public transportation. This property is also located in an Opportunity Zone allowing for potential developments and substantial tax benefits for new buyers. Development in this area would coincide with the Long Beach Downtown Plan as well as the Opportunity Zone social impact principles. Buyer to verify. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., John Stiegler II 310-447-2213
Listing Snapshot
Days Online
243
Last Updated
Property Type
Apartment
Lot Size
0.12 Acres
Year Built
1927
MLS Number
SB24010441
Additional Details
Building
Built in 1927, Building area total: 5,340, 1 building, Architectural style: , Attached, Common walls: Item2CommonWalls
Community
Urban
Expenses
Electric expense: $630, Fuel expense: $630, Insurance expense: $3,738, Operating expense: $41,957, Trash expense: $1,260, Water sewer expense: $3,780
Income
Gross income: $113,282, Net operating income: $71,324
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.
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