$1,299,000
$1,399,000
7.1%For more information regarding the value of a property, please contact us for a free consultation.
6,538 Sqft Lot
SOLD DATE : 06/13/2021
Key Details
Sold Price $1,299,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Eastside (Es)
MLS Listing ID SB21029901
Sold Date 06/13/21
HOA Y/N No
Year Built 1922
Lot Size 6,538 Sqft
Property Description
Perfectly located this property is only 9 blocks from the Pacific ocean between downtown Long Beach, the East Arts Districts, and Alamitos Beach. The impressive property consists of 3 separate structures: (1) 5BD/1BA house, (1) 4BD/2BA house, and (2) 3BD/1BA units. The 4BD/2BA house was recently renovated and leased. There is a value-add potential at over 15% to market rents. This property is being offered at a CAP rate of 5% and GRM of 12.46 with an upside to achieve a CAP rate of 6.1% and GRM of 10.8. ONE UNIT TO BE DELIVERED VACANT!
Location
State CA
County Los Angeles
Area 3 - Eastside, Circle Area
Interior
Fireplace No
Laundry None
Exterior
Pool None
Community Features Urban
Private Pool No
Building
Lot Description Item25UnitsAcre
Sewer Unknown
Water Public
New Construction No
Others
Senior Community No
Tax ID 7267025031
Acceptable Financing Cash, Conventional, Item1031Exchange
Listing Terms Cash, Conventional, Item1031Exchange
Financing Conventional
Special Listing Condition Standard
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Bought with Cody Charnell • Buckingham Investments
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "