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5 Unit apartment building on a large 6,800 SF lot in Long Beach! This property has 2 buildings, a front house consisting of a 4 Bedroom / 2 Bath ~1,398 SF and a separate back building ~ 2,100 SF consisting of 4 ALL 1-Bedroom/1-Bath units! This property has on ONSITE laundry room that brings in additional income! Parking for about 7 cars onsite! This property currently brings in $8,629/month in gross rental income. Currently operating at a CAP rate of 5.1 CAP and 12.6 X GROSS! This is great investment opportunity with upside potential through renovations/rent increases. Located close to downtown Long Beach, shopping and restaurants and offering easy access to Alamitos Beach, 4th Street!
Property Type(s):
Residential Income
| Last Updated | 12/18/2024 | Tract | Downtown (DT) |
|---|---|---|---|
| Year Built | 1910 | Community | Downtown Area, Alamitos Beach |
| County | Los Angeles |
Additional Details
| AREA | Downtown Area, Alamitos Beach |
|---|---|
| LOT | 6802 sq ft |
| PARKING | Asphalt,Driveway |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | Downtown (DT) |
| WATER | Public |
| ZONING | LBR4R |
Location
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Listed with The Moore Group
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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