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Diego Magdaleno

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

$2,149,000

Est. payment - /mo

17 Beds

9 Baths

6,892 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 6,892 sqft

Price per Sqft $311

MLS Listing ID 25590423

Bedrooms 17

HOA Y/N No

Year Built 1963

Lot Size 6,525 Sqft

Property Description

PRICED TO SELL - 9.8 GRM AND 6.7% CAP on in-place rents, with upside to a 9.0 GRM and 7.6% CAP. 9 units on the Eastside of Long Beach. Property was heavily rehabbed in 2020. 8 of 9 units were taken down to the studs with everything updated. Property has new windows, updated plumbing, electrical, kitchens and baths. Additionally, all new tile flooring was installed (that looks like wood laminate) which will last for years to come. Buyer to verify. Main Electric Panel is 400 AMPS - Buyer to verify. There is onsite laundry and the building is secured. There are 4 garages in the rear that could be rented for $125/garage or converted into 1-2 ADU's - Buyer to verify. There is also one garage in the front of the building. There are 2 potential Loan Options on the property. Option 1 - The Buyer can obtain a new loan with 25-30% down. Option 2 - Buyer can assume the existing, fully amortized loan of $1.830.000 fixed at 3.4% until November 2026 at which point it can adjust as much as 2.00%. This option allows a Buyer to purchase this property with less than 20% down. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.

Location

State CA

County Los Angeles

Area 9 - Poly High

Zoning LBR2N

Interior

Heating Wall Furnace

Fireplace No

Laundry Common Area

Exterior

Parking Features Assigned

Garage Spaces 5.0

Garage Description 5.0

Total Parking Spaces 5

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7261027007

Special Listing Condition Standard

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Listed by Jonathan Swire The Agency

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1332 Walnut AVE Long Beach, CA 90813