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Long Beach,CA 90813
Key Details
Property Type Single Family Home, Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Subdivision Downtown (Dt)
MLS Listing ID SB25232103
Year Built 1910
Lot Size 5,000 Sqft
Property Sub-Type Quadruplex
Property Description
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 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.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Laundry None
Exterior
Parking Features Garage Faces Rear
Garage Spaces 2.0
Garage Description 2.0
Pool None
Community Features Suburban
Utilities Available Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected
Roof Type Composition
Building
Lot Description Rectangular Lot
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard