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Significant Price reduction!!! Totally remodeled, turnkey 8-unit (6+2 brand new ADU's) property in a high demand rental area of Long Beach. Great unit mix with one 3 bed/1 bath unit, five 2 bed/1 bath units, and two brand new 1 bed/1 bath detached ADU's. High yield, low expense property at an in-place cap rate of 6.2% and a GRM of 10.61 with an additional 4% in upside to a market cap rate of 6.6% and a 10.13 GRM. Extensively renovated property including exterior refresh, new windows, main electrical panel, controlled access, low-water landscaping, common areas, and lighting. 5 out of 6existing units upgraded with new vinyl flooring, new kitchens, bathrooms, paint, and lighting. Two brand new 1 bed/1 bath ADUs just completed atthe rear of the property separated by a new turf courtyard. ADUs include mini-split AC units, in-unit laundry hookups, open concept kitchen/livingareas, stainless steel appliances, high grade cabinets, quartz countertops, and full-sized bathrooms. Parking for 3-4 cars in the rear of the property.
Property Type(s):
Residential Income
| Last Updated | 11/27/2024 | Tract | Poly High (PH) |
|---|---|---|---|
| Year Built | 1953 | Community | Poly High |
| County | Los Angeles |
Additional Details
| AREA | Poly High |
|---|---|
| LOT | 6076 sq ft |
| LOT DESCRIPTION | Rectangular Lot |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | Poly High (PH) |
| WATER | Public |
| ZONING | LBR2N |
Location
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Listed with Buckingham Investments, Inc
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