$1,189,000
$1,189,000
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5,662 Sqft Lot
SOLD DATE : 11/30/2020
Key Details
Sold Price $1,189,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision North Long Beach (Nlb)
MLS Listing ID TR20196615
Sold Date 11/30/20
HOA Y/N No
Year Built 1962
Lot Size 5,662 Sqft
Property Description
Fantastic large 4-plex priced to sell. Located in a high rental neighborhood of Long Beach. Units are very spacious and consist of (1) 3br/2ba and (3) 2br/1ba with over 4100 sf of living space. Extensive renovations on select units including new cabinets, quartz countertops, bathtub, vinyl wood floors, fixtures, windows, and paint. Exterior has been completely repainted with modern make overs. Units are all individually metered for gas and electric with separate new water heaters. Tremendous rental upside with opportunity for 30% rental growth to achieve market rents. A 2br/1ba fully renovated unit on the upstairs has an opportunity for owner occupied. This will allow the next owner an opportunity to live in one unit and manage the others, or they could just lease the unit at full market rent. The rear has a gated 4 car open parking garage and each unit has their own storage rooms. There is an onsite laundry room currently not being used, which the next owner can re-open for additional income. Property is conveniently located near schools, colleges, shopping, downtown, and minutes away from the 91 freeway. This is an amazing investment opportunity you don't want to miss.
Location
State CA
County Los Angeles
Area 7 - North Long Beach
Zoning LBR1N
Interior
Heating Wall Furnace
Flooring Laminate, Vinyl
Fireplaces Type Living Room
Fireplace Yes
Appliance Electric Range, Water Heater
Laundry Common Area
Exterior
Fence Wrought Iron
Pool None
Community Features Curbs, Sidewalks
Utilities Available Natural Gas Connected, Sewer Connected, Water Connected
Roof Type Composition
Private Pool No
Building
Lot Description 2-5 Units/Acre, Front Yard
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7125031005
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Huok Lo • Starburst Realty
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