High income totally updated 4 unit property in Downtown Long Beach with a 4 bed, 2.5 bath front house full of character plus three 1 bed, 1 bath units in the rear. All units recently updated, newer roof, replaced stairs, landscaping and exterior refresh completed. Very well priced… Read More on income at 11.3X GRM on actuals and a 5.7% cap rate with upside to 10.7X GRM and a 6.1% cap rate on market rents. 2 garages in rear structure plus driveway parking for 3 cars by the front house. Potential for ADU conversion in rear garages. Separately metered for gas and electric, allowing a low expense building. Great location right in Downtown Long Beach just North of the East Village Arts District. Blocks away from St. Mary's hospital, Museum of Latin American Art, rail lines, and $8 billion of new development. Only 8 blocks to the beach. Read Less
Property listed by Buckingham Investments, Inc, Anthony Walker 310-561-4776
Listing Snapshot
Days Online
52
Last Updated
Property Type
Quadruplex
Lot Size
0.11 Acres
Year Built
1910
MLS Number
SB25232103
Additional Details
Building
Built in 1910, 2 buildings, 2 stories, Levels: Two, Entry level: 1, Entry location: 1
ElectricityConnected, NaturalGasConnected, SewerConnected, WaterConnected, Water Source: Public, Standard, 4 separate electric meters, 4 separate gas meters
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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