Active
$3,175,000
90%
16 Units
0 Beds
1 Baths
4,508 Area(sq.ft.)
Lot: 3,961 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 16 | studio | 1 | No | $ 1,450 | $ 22,855 | $ 23,200 |
| 16 | 0 | 16 | $ 23,200 | $ 365,680 | $ 371,200 |
| MLS #: | PW25007491MR |
| Days On Market: | 322 |
| Listing Date: | January 17, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 704 |
| Price per unit: | $ 198,438 |
| Year Built: | 1923 |
Property Details
Wow, this Spanish beauty is an absolute bread and butter property in the heart of Long Beach! Most every unit has been remodeled and updated. All units are vintage studios with either Juliet balconies on the 2nd floor or rear doors to a walk way for the lower units. Painted with designer colors, laminate flooring, vintage cabinets and all stoves and refrigerators are seller owned. There is an on-site coin operated laundry room with 2 washers and 2 dryers which adds to the already lucrative income on this property. The exterior has been fully repainted, the roof has a white Elasta-Coasting with a five year warranty to help reduce the heat on the upper apartments. The main exterior panel has had an impressive and massive upgrade. There is a small basement which will show the updates to the foundation and supports of the property. There is a cute slate rear courtyard for the tenants to utilize and also allows access to the rear dead end alley. This is a great property with tremendous opportunity for growth!Interested in this Listing?
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Income Details
| Rent Control: | Yes |
| Total Annual Expense: | $ 223,504 |
| Net Operating Income: | $ 223,504 |
Structure
| Community Features: | Sidewalks |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Zoning: | LBR2N |
| Land Lease Type: | Fee |
| Parking Garage: | None |
Interior
| Cooking Appliances: | Oven-Gas |
| AC/Cooling: | None |
| Equipment: | Community, Dryer, Dryer Included, Gas Dryer Hookup, Refrigerator, Washer, Washer Included |
| Heating: | Wall |
| Fireplace Rooms: | None |
| Laundry: | Community, Dryer, Dryer Included, Gas Dryer Hookup, Washer, Washer Included |
Exterior
| Exterior Construction: | Stucco |
| Pool: | No |
| Roof: | Flat Tile |
Detailed Map
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