826 Rose Avenue, Long Beach, CA 90813 - MLS#OC24224912

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Nicole Hazelton

[email protected] +1(619) 206-1892

$1,850,000

Est. payment - /mo

5 Beds

3 Baths

5,905 Sqft Lot

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UPDATED:

11/02/2024 02:35 PM

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC24224912

Bedrooms 5

HOA Y/N No

Lot Size 5,905 Sqft

Property Description

Prime 5-Unit Multifamily Investment Opportunity in Long Beach Introducing 826 Rose Ave, a fully renovated triplex in the heart of Long Beach, currently generating $6,185 per month in rental income. With an annual cash flow of $78,600, this property offers immediate returns with future growth potential through a fully approved expansion 2 unit ADU. FOR SALE: $1,850,000 Owners Loss, Investors Gain: Due to funding requirements for another project, the owner must sell this valuable asset, creating a unique opportunity for investors. Additional Expansion Opportunity with 2 Fully Permitted ADU Plans: The property includes fully permitted, shovel-ready plans for two additional ADU units (each a 2-bed, 2-bath, 2-story design) at an additional cost to construct of $434,000, which will transform this triplex into a 5-unit multifamily property with a proforma annual cash flow of $140,000 upon completion and an estimated cap rate of 6.07%. Property Highlights: Current Units: 3 fully renovated units $6,185 monthly rental income ($78,600 annually). Future Expansion: Includes fully permitted plans for two new ADU units, adding 1,584 sq. ft. of living space. Construction Company: After evaluating estimates from three qualified contractors, we selected the best fit based on quality and value. Each bid projected a similar build time of eight months. To ensure thorough vetting, we partnered with BuildZoom, who reviewed all proposals, helped reduce additional costs, and confirmed we hired the optimal contractor. BuildZoom also closely collaborated with the architect and design team to mana
Prime 5-Unit Multifamily Investment Opportunity in Long Beach Introducing 826 Rose Ave, a fully renovated triplex in the heart of Long Beach, currently generating $6,185 per month in rental income. With an annual cash flow of $78,600, this property offers immediate returns with future growth potential through a fully approved expansion 2 unit ADU. FOR SALE: $1,850,000 Owners Loss, Investors Gain: Due to funding requirements for another project, the owner must sell this valuable asset, creating a unique opportunity for investors. Additional Expansion Opportunity with 2 Fully Permitted ADU Plans: The property includes fully permitted, shovel-ready plans for two additional ADU units (each a 2-bed, 2-bath, 2-story design) at an additional cost to construct of $434,000, which will transform this triplex into a 5-unit multifamily property with a proforma annual cash flow of $140,000 upon completion and an estimated cap rate of 6.07%. Property Highlights: Current Units: 3 fully renovated units $6,185 monthly rental income ($78,600 annually). Future Expansion: Includes fully permitted plans for two new ADU units, adding 1,584 sq. ft. of living space. Construction Company: After evaluating estimates from three qualified contractors, we selected the best fit based on quality and value. Each bid projected a similar build time of eight months. To ensure thorough vetting, we partnered with BuildZoom, who reviewed all proposals, helped reduce additional costs, and confirmed we hired the optimal contractor. BuildZoom also closely collaborated with the architect and design team to manage revisions and secure city approvals. Construction Ready to begin with a 8 month build timeline and total build cost of $434,000. Investment Potential: After completion, the property will offer 5 units, a projected ARV of $2.6M, proforma cash flow of $140,000 annually, and a cap rate of 6.07%. Prime Location: Situated in a vibrant Long Beach neighborhood, with easy access to schools, parks, dining, and the beach. This is a rare opportunity to acquire a high-performing investment property with significant upside potential. Whether you're a seasoned investor or looking to expand your portfolio, 826 Rose Ave is a must-see!

Location

State CA

County Los Angeles

Area Long Beach (90813)

Zoning Public Rec

Exterior

Garage Unit1:Assigned

Building

Lot Description Curbs, Sidewalks

Story 2

Lot Size Range 4000-7499 SF

Level or Stories 2 Story

Others

Senior Community Other

Monthly Total Fees $54

Miscellaneous Value in Land

Acceptable Financing Cash, Conventional, Exchange

Space Rent $1,990

Listing Terms Cash, Conventional, Exchange

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Listed by Nicholas Gallyon • Coldwell Banker Platinum Prop

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Nicole Hazelton

+1(619) 206-1892

Broker Associate | License ID: 01819363

Broker Associate License ID: 01819363

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