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Diego Magdaleno

diego@1visionproperties.com +1(714) 676-7271

$1,599,000

Est. payment - /mo

5,026 Sqft Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Subdivision Alamitos Beach (Ab)

MLS Listing ID IN25193325

HOA Y/N No

Year Built 1912

Lot Size 5,026 Sqft

Property Sub-Type Quadruplex

Property Description

Prime 4-Unit income property near the beach featuring four spacious 1-bedroom, 1-bathroom units just steps from the sand in the thriving Long Beach market. Separate free standing 2-car garage in the back with sewer line that runs directly under allowing for a convenient conversion into a 2 bed 1 bath ADU(open parking available at end of driveway). GRM on market rents of 14.5X, 11.6X after ADU conversion. Three units recently remodeled. All units are 800 sqft+ and have their own laundry room A great option for a savvy investor looking to buy and hold in a prime location with the potential to greatly increase income with the addition of the ADU.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Zoning LBR4R

Interior

Fireplace No

Laundry Washer Hookup, Gas Dryer Hookup

Exterior

Garage Spaces 2.0

Garage Description 2.0

Pool None

Community Features Biking, Golf, Water Sports

Total Parking Spaces 4

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7265011023

Acceptable Financing 1031 Exchange

Listing Terms 1031 Exchange

Special Listing Condition Standard

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Listed by Tyson Storr Buckingham Investments, Inc. 4242122321

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1209 E 1st ST Long Beach, CA 90802