Active
$1,975,000
4%
9 Units
14 Beds
9 Baths
6,395 Area(sq.ft.)
Lot: 9,685 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 4 | 1 | 1 | No | $ 1,695 | $ 1,695 | $ 1,695 |
| Unit 2 | 5 | 2 | 1 | No | $ 1,895 | $ 1,895 | $ 1,895 |
| 9 | 14 | 9 | $ 16,255 | $ 16,255 | $ 16,255 |
| MLS #: | 25528237 |
| Days On Market: | 229 |
| Listing Date: | April 21, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 309 |
| Price per unit: | $ 219,444 |
| Year Built: | 1936 |
Property Details
PRICE REDUCED AND READY TO SELL. Priced at UNDER 10 GRM and 6.6% CAP with upside to 9.3 GRM and a 7.3% CAP. 9 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.8%). Located on the West Side blocks from Downtown Town where over $8BB of redevelopment is occurring. On a beautiful, quiet, tree-lined street. The property is professionally managed and well-maintained. All units have their own private parking included, and most have a private outdoor patio. All have W/D hookups. All units have their own water heater. A new owner can raise rents to market and achieve a 9.4 GRM and 7.2% CAP. Earn over a 9.5% cash-on-cash return at market rents. Qualified Buyers can put as little as 30% down. EMAIL LISTING AGENT FOR MORE INFO, INCLUDING A RENT ROLL AND OM.Interested in this Listing?
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Income Details
| Gross Operating Income: | $ 193,000 |
| Total Annual Expense: | $ 63,000 |
| Net Operating Income: | $ 129,000 |
| Gross Annual Income: | $ 198,000 |
| Cap Rate: | 6.6% |
| Gross Rent Multiplier: | 9.90 |
Structure
| Type of Units: | Income |
| Buildings: | 5 |
| Levels: | Two |
Land & Parking
| Zoning: | LBPD10 |
| Parking Garage: | Assigned |
Interior
| AC/Cooling: | None |
| Equipment: | None |
| Heating: | Wall |
Exterior
Detailed Map
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Income
