Request More Info
Schedule a Showing
Share
Print
|
Prime 5-Unit Multifamily Investment Opportunity in Long BeachIntroducing 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 – Owner’s Loss, Investor’s 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!
Property Type(s):
Residential Income
| Last Updated | 10/31/2024 | Tract | ,North Alamitos Beach |
|---|---|---|---|
| Year Built | 1923 | Community | Downtown Area, Alamitos Beach |
| Garage Spaces | 3.0 | County | Los Angeles |
Additional Details
| ADULT COMMUNITY | Yes |
|---|---|
| APPLIANCES | Dryer, Washer |
| AREA | Downtown Area, Alamitos Beach |
| GARAGE | Assigned, Yes |
| LOT | 5905 sq ft |
| LOT DESCRIPTION | 2-5 Units/Acre, Near Public Transit, Value In Land |
| PARKING | Assigned |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| STYLE | Spanish |
| SUBDIVISION | ,North Alamitos Beach |
| VIEW DESCRIPTION | None |
| WATER | Public |
| ZONING | LBR2N |
Location
Contact us about this Property
| / | |
| We respect your online privacy and will never spam you. By submitting this form with your telephone number you are consenting for Carie Webber to contact you even if your name is on a Federal or State "Do not call List". | |
Listed with Coldwell Banker Platinum Prop
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2024.
Twitter
Facebook
Email