|
Offered at an unbeatable $1,229,900, this fully remodeled, move-in-ready 3-unit property in Long Beach is a rare find for savvy investors, boasting an impressive 6% cap rate. With the opportunity to generate over $100,800 in annual gross income, this property is perfectly designed to deliver steady cash flow, featuring current market rents of $2,600 for each of the two 2-bedroom units and $3,200 for the spacious 3-bedroom unit. Located just minutes from the beach, the property’s prime location offers incredible short-term rental potential, making it an ideal candidate for Airbnb and promising even higher returns. The units have been meticulously remodeled with modern amenities and high-quality finishes, ensuring that this turnkey property requires no additional work—just start collecting rent from day one. Additionally, the property includes 4 single-car garages, providing secure parking for tenants and potential for additional income, along with future opportunities for development or conversion into an accessory dwelling unit (ADU). With everything separately metered (except water) and minimal maintenance costs, this property is designed for hassle-free ownership and maximum profitability. Don’t miss out on this rare chance to own a high-income-generating property in a sought-after Long Beach location—act fast, as properties like this don't stay on the market long!
Last Updated | 8/2/2024 | Tract | Wrigley Area (WR) |
---|---|---|---|
Year Built | 1961 | Community | Wrigley Area |
Garage Spaces | 4.0 | County | Los Angeles |
Price History
Prior to Aug 2, '24 | $1,299,990 |
---|---|
Aug 2, '24 - Today | $1,229,990 |
Additional Details
AREA | Wrigley Area |
---|---|
GARAGE | Door-Single, Garage, Garage Faces Rear, Yes |
LOT | 6674 sq ft |
LOT DESCRIPTION | 0-1 Unit/Acre, Back Yard, Front Yard |
PARKING | Door-Single,Garage,Garage Faces Rear |
POOL DESCRIPTION | None |
SEWER | Public Sewer |
STORIES | 1 |
SUBDIVISION | Wrigley Area (WR) |
WATER | Public |
ZONING | LBR1N |
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". |
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.