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Prime 5-Unit Multifamily Investment Opportunity in Long BeachIntroducing 826 Rose Ave, a fully renovated triplex in the heart of Long Beach. This property is currently generating $6,185 per month in rental income ($78,600 annually) and provides immediate returns with approved expansion potential through two additional ADU units.Expansion Opportunity with Fully Permitted ADU Plans:The property includes fully permitted, shovel-ready plans for two new ADU units (each a 2-bed, 2-bath, 2-story design), converting this triplex into a 5-unit multifamily property with a proforma annual cash flow of $140,220 upon completion and an estimated cap rate of 6.07%.Property Highlights:Current Units: 3 fully renovated units, fully occupied, generating $6,185 monthly rental income ($78,600 annually)Unit Breakdown: 1 one-bedroom, one-bath; 2 two-bedroom, one-bath unitsFuture Expansion: Fully permitted plans for two new ADU units, adding 1,584 sq. ft. of living spaceConstruction Ready: Selected contractor with a 6-8 month build timeline and estimated build cost of $434,000Investment Potential: After expansion, the property will feature 5 units, with a projected ARV of $2.4M to $2.6M, proforma annual cash flow of $140,220, and a cap rate of 6.07%Prime Location: Situated in a vibrant Long Beach neighborhood, near schools, parks, dining, and the beachThis property offers a rare opportunity to acquire a high-performing asset with substantial upside potential. Whether you’re an experienced investor or looking to expand your portfolio, 826 Rose Ave is an opportunity worth exploring.
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
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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.
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