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Located on a quiet side street off one of the major thoroughfares in North Long Beach providing a great location and ease of commute for tenants.The property is close to local bus stops, multiple parks, and shopping centers, as well as The Michelle Obama Library. The property sits within 2miles of both the 91 and 710 freeways. The property is also only a short drive to both downtown Long Beach and the Beach. This fourplex consistsof a front building made up of three 1 Bed 1 Bath units each with a garage, and a rear building which is a detached 4 Bed 2 Bath house The rearhouse sits at ~1728 sqft. While the front building units average ~485 sqft. The tenants pay their own utilities, keeping the utilities low. Thisbuilding is currently fully occupied and has had less than 3% vacancy over the last 3 years. Two of the units have been partially renovated duringthe most recent tenant transitions. This property also has storage and laundry room opportunities for potential sellers to build out. Price$1,250,000 Price/Unit $312,500 Price/sqft $408 Current Cap Rate 5.35% Market Cap Rate 6.26% Current GRM 16.62 Market GRM 14.43
Property Type(s):
Residential Income
| Last Updated | 1/11/2025 | Tract | North Long Beach (NLB) |
|---|---|---|---|
| Year Built | 1949 | Community | North Long Beach |
| Garage Spaces | 3.0 | County | Los Angeles |
Additional Details
| AREA | North Long Beach |
|---|---|
| GARAGE | Yes |
| LOT | 5600 sq ft |
| LOT DESCRIPTION | 0-1 Unit/Acre |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | North Long Beach (NLB) |
| WATER | Public |
| ZONING | LBR2N |
Location
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Listed with Southland Property Group
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