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4-unit property, live in one unit and let the remaining 3 units pay your mortgage! Perfect for an investor looking for a renovated multifamily in a downtown location with high rental demand. The property has an attractive unit mix of (2) 2-bedroom 1-bath and (2) 3-bedroom 1-bath units. All 4 units have been meticulously renovated in 2023 including new flooring, cabinetry, Quartz countertops, light fixtures, wall heaters, water heater, sinks, appliances, blinds, and fresh paint. The property boasts a completely upgraded electrical system in 2023, including a full re-wire, new main service panel, and sub panels, as well as a 2024 Silicone white roof! Enjoy gross scheduled rents of $113,220 per year, a 13.0 GRM, a 5% cap rate, and upside in rents. Additionally, unit 807 (3bd 1ba) and unit 803 (2bd 1ba) will be available at close of escrow, ideal for an owner-occupant or investor to select their tenant and capture market rent!
Property Type(s):
Multi Family
| Last Updated | 11/4/2024 | Tract | Downtown (DT) |
|---|---|---|---|
| Year Built | 1914 | Community | Downtown Area, Alamitos Beach |
| County | Los Angeles |
SCHOOLS
| School District | Long Beach Unified |
|---|
Additional Details
| AIR | None |
|---|---|
| AREA | Downtown Area, Alamitos Beach |
| HEAT | Wall Furnace |
| HOA DUES | 0 |
| INTERIOR | Bedroom on Main Level, Main Level Primary |
| LOT | 3001 sq ft |
| LOT DESCRIPTION | 0-1 Unit/Acre |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | Downtown (DT) |
| VIEW DESCRIPTION | None |
| WATER | Public |
| ZONING | LBCO |
Location
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Listed with Buckingham Investments, Inc
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