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$ 1,789,000
Est. payment | /mo
8 Beds
6 Baths
4,192 SqFt
$ 1,789,000
Est. payment | /mo
8 Beds
6 Baths
4,192 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,192 sqft
Price per Sqft $426
MLS Listing ID 26829257
Bedrooms 8
HOA Y/N No
Year Built 1959
Lot Size 6,346 Sqft
Property Description
6 units in Prime Long Beach NOT subject to rent control, only subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.0%). Located in a great location on the East side, close to the Traffic Circle, Belmont Shores, Park Estates and CSULB. Long Beach has undergone major redevelopment with over $8BB of new projects in the past few years. The property is professionally managed and well maintained with onsite laundry. The property features an excellent unit mix of 1 and 2 bed units with 4 parking spaces in the front of the building. The exterior and all interiors were heavily updated. Interiors feature new kitchens, baths, flooring, etc. The exterior has new lighting, painting and landscaping. Over $350K was spent. The electric main and sub panels were updated as well and all SB 721 Balcony work has been completed. This property is perfect for an investor looking for a plug and play building with no work to be done. Rents are approximately 12% below market. EARN OVER A 9% CASH ON CASH RETURN AT MARKET RENTS. Qualified Buyers can obtain a new loan fixed at 5.05% for 5 years, Interest Only. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs.
Location
State CA
County Los Angeles
Area 3 - Eastside, Circle Area
Zoning LBR4R
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Parking Features Assigned
Total Parking Spaces 4
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7254012028
Special Listing Condition Standard
Listed by Jonathan Swire The Agency #01336277
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