REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$2,175,000
Est. payment /mo
6 Beds
4 Baths
8,502 Sqft Lot
UPDATED:
09/18/2024 05:46 AM
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB24164233
Bedrooms 6
HOA Y/N No
Lot Size 8,502 Sqft
Property Description
Price just reduced!! Just short of a 6 Cap rate now. This totally remodeled turnkey 8 unit Spanish Style property is in a high demand rental area of Long Beach just South of PCH. Great unit mix with (4) 2 Bed 1 Bath units and (4) 1 Bed 1 Bath units, and 100% of the unit interiors have been upgraded including cabinets, counters, flooring, paint, lighting, and bathrooms. One double garage and (3) single garages with additional storage create a great opportunity for a future ADU build. There is an attractive garden courtyard area for tenants' enjoyment, creating peaceful entries and common areas. Conveniently located for tenants at just 1 mile to the beach, 1 miles to the 405, and just over 2 miles to the 110. An onsite laundry room exists with hookups, but no machines or leases are in place. (4) of the units include in unit laundry. Major electrical panel upgrades were completed in 2021. Building is retrofitted and anchor bolted for earthquakes. Priced at a competitive GRM in the high 10's (10.96) and a Cap Rate just shy of 6% (5.8%), with strong yield allowing good leverage (~65% LTV) with interest only loans available at 5.8%.
Price just reduced!! Just short of a 6 Cap rate now. This totally remodeled turnkey 8 unit Spanish Style property is in a high demand rental area of Long Beach just South of PCH. Great unit mix with (4) 2 Bed 1 Bath units and (4) 1 Bed 1 Bath units, and 100% of the unit interiors have been upgraded including cabinets, counters, flooring, paint, lighting, and bathrooms. One double garage and (3) single garages with additional storage create a great opportunity for a future ADU build. There is an attractive garden courtyard area for tenants' enjoyment, creating peaceful entries and common areas. Conveniently located for tenants at just 1 mile to the beach, 1 miles to the 405, and just over 2 miles to the 110. An onsite laundry room exists with hookups, but no machines or leases are in place. (4) of the units include in unit laundry. Major electrical panel upgrades were completed in 2021. Building is retrofitted and anchor bolted for earthquakes. Priced at a competitive GRM in the high 10's (10.96) and a Cap Rate just shy of 6% (5.8%), with strong yield allowing good leverage (~65% LTV) with interest only loans available at 5.8%.
Price just reduced!! Just short of a 6 Cap rate now. This totally remodeled turnkey 8 unit Spanish Style property is in a high demand rental area of Long Beach just South of PCH. Great unit mix with (4) 2 Bed 1 Bath units and (4) 1 Bed 1 Bath units, and 100% of the unit interiors have been upgraded including cabinets, counters, flooring, paint, lighting, and bathrooms. One double garage and (3) single garages with additional storage create a great opportunity for a future ADU build. There is an attractive garden courtyard area for tenants' enjoyment, creating peaceful entries and common areas. Conveniently located for tenants at just 1 mile to the beach, 1 miles to the 405, and just over 2 miles to the 110. An onsite laundry room exists with hookups, but no machines or leases are in place. (4) of the units include in unit laundry. Major electrical panel upgrades were completed in 2021. Building is retrofitted and anchor bolted for earthquakes. Priced at a competitive GRM in the high 10's (10.96) and a Cap Rate just shy of 6% (5.8%), with strong yield allowing good leverage (~65% LTV) with interest only loans available at 5.8%.
Location
State CA
County Los Angeles
Area Long Beach (90813)
Zoning Assessor
Building
Story 2
Lot Size Range 7500-10889 SF
Level or Stories 2 Story
Others
Monthly Total Fees $128
Acceptable Financing Exchange
Space Rent $2,195
Listing Terms Exchange
Read Less Info
Listed by Anthony Walker • Buckingham Investments, Inc
Get More Information
Nicole Hazelton
Broker Associate | License ID: 01819363
Broker Associate License ID: 01819363
Quick Search
- Home for Sale in Rancho Santa Fe
- Homes for Sale in Santaluz
- Home for Sale in Rancho Bernardo
- Home for Sale in Downtown
- Home for Sale in Mission Hills
- Homes For Sale in Point Loma, San Diego, CA
- Homes For Sale in La Jolla, CA
- Homes For Sale in Del Mar, CA
- Homes For Sale in Solana Beach, CA
- Home for Sale in Encinitas
- Home for Sale in Coronado
- Home for Sale in Cardiff By The Sea
- Home for Sale in Carlsbad
- Home for Sale in Oceanside
- Home for Sale in Carmel Valley
- Home for Sale in Kensington
- New Condos in San Diego
- Home for Sale in Pacific Gate Tower
- Home for Sale in Savina Tower