REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Sun

Jan

Mon

Jan

Tue

Jan

Diego Magdaleno

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

$3,695,000

Est. payment - /mo

15 Beds

10 Baths

5,765 SqFt

Save

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 5,765 sqft

Price per Sqft $640

MLS Listing ID 25625923

Bedrooms 15

HOA Y/N No

Year Built 1964

Lot Size 5,431 Sqft

Property Description

2nd Price Reduction! Once in a lifetime 100% Renovated 10-unit Master-leased opportunity and cash flowing at an impressive 6.25% Cap Rate from Day 1! The offering provides investors with a turnkey opportunity to purchase a premium asset where every single unit was vacated, completely renovated and leased at market rent. The building was entirely stripped to the studs and thoroughly renovated with permits featuring a new roof, electrical system, plumbing, HVAC, water heaters, and windows. Other upgrades include new cabinets, modern countertops, new flooring, recessed lighting, updated bathrooms with new vanities and sleek bathtubs, and stainless-steel appliances. The offering brings a diverse unit mix consisting of 5 (1bed/1bath) units and 5 (2bed/1bath) units including 3 brand-new ADUs. The property is separately metered for gas and electrical utilities and each unit has its own individual water heater to further reduce operating costs. Located in prime North Long Beach just minutes from the beach, offering investors the opportunity to acquire a low-maintenance asset in a coastal rental market without premium coastal pricing! Majority of the units are master-leased by a single organization providing guaranteed cash flow and minimal vacancies. (Similar to a hassle-free NNN deal with stable income and more limited landlord responsibilities with ease of management and rent collection).

Location

State CA

County Los Angeles

Area 7 - North Long Beach

Zoning LBR1N

Interior

Heating Wall Furnace

Fireplace No

Appliance Refrigerator

Exterior

Parking Features On Street

Building

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7126025019

Special Listing Condition Standard

Read Less Info

Listed by Armin Soleimani Global Platinum Properties, Inc.

Have questions about this property, other properties, or thinking of selling a similar one? We’re here to help. Simply complete the GET MORE INFORMATION form, and we’ll be in touch shortly!

+1(818) 221-2921

info@1visionproperties.com

GET MORE INFORMATION

QUICK SEARCH

5529 Dairy AVE Long Beach, CA 90805