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Listed by Anthony Walker • Buckingham Investments, Inc
$ 1,050,000
Est. payment | /mo
2,001 Sqft Lot
$ 1,050,000
Est. payment | /mo
2,001 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Pending
Purchase Type For Sale
MLS Listing ID CRSB25062688
Year Built 1923
Lot Size 2,001 Sqft
Property Sub-Type Fourplex
Source California Regional MLS
Property Description
Perfect 4 unit investment property right in the heart of Downtown Long Beach, benefitting from over $8 billion in new and ongoing development. The property features four 1 bed/1 bath units in 2688 square feet on a 2001 square foot lot. Well priced on actual income at 13.3X GRM with a 9% upside in rents to a market GRM of 12. Nicely remodeled interiors that offer modern finishes while maintaining the period character of the building. Simple low expense property separately metered for gas and electric. Well maintained, professionally managed Asset in a dense, high demand rental market. Attractive entry price and low price per door for a 4 unit property, offering 30 year fixed financing. The property is only 2 blocks to the massive civic center redevelopment, 2 blocks to historic Pine Avenue, and 5 blocks to Ocean Blvd. The Metro Blue Line station is only one block away for excellent transit access. Per Costar, 65% of households within a 5 mile radius are renters with an average household income of over $93,000.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Rooms
Kitchen Oven Range - Gas
Interior
Heating Wall Furnace
Cooling None
Flooring Laminate
Laundry None
Exterior
Parking Features No Parking
Pool 31, None
View None
Building
Foundation Raised
Water District - Public
Others
Tax ID 7280011005
Special Listing Condition Not Applicable
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