$100K PRICE REDUCTION. 9 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI. Priced at 11.4 GRM and a 5.5% CAP with upside to a 6.4% CAP. VERY WELL MAINTAINED. Solid Eastside location in Long Beach. Most interiors have been updated (new kitchen cabinets, flooring, bath tile, fixtures, etc.) and property is professionally managed and well maintained. The property features multiple structures, meaning many units do not have common walls on all sides making the units more private. There are 3 garages in the rear as well as 2 surface spaces. Currently management is not charging for parking, but new ownership could. Spaces in Long Beach are at a premium and are worth $125-150/month - this could increase income by $700/month. The 2 bed unit in the rear has 2 outdoor patios attached to it. Every unit has it's own hot water heater. There is onsite laundry onsite. The electrical is General Electric - it's a 200 AMP main panel with 50 AMP subpanels (Buyer to verify). Email LA for more information including actual expenses and a current Rent Roll.
Property Features
Bedrooms
Bathrooms
- Total Bathrooms: 9
- Full Bathrooms: 9
Appliances
- Laundry Facilities: Community
- Laundry Features: Community
Heating and Cooling
Land Info
- Lot Size Acres: 0.195202
- Lot Size Dimensions: 50x170
- Lot Size Source: Vendor Enhanced
- Lot Size Square Feet: 8503
Garage and Parking
- Garage Spaces: 3
- Garage Description: Covered Parking
- Parking Total: 5
Homeowners Association
- Association: No
- Calculated Total Monthly Association Fees: 0
Multi-Unit Info
- Number of Buildings: 4
- Number of Units: 9
- Unit Features: 1 BedsTotal: 1, 1 BathsTotal: 1, 1 SquareFeet: 1650, 2 BedsTotal: 2, 2 BathsTotal: 1, 2 SquareFeet: 1795
Other Property Info
- Source Listing Status: Active
- County: Los Angeles
- Cap Rate: 5.5
- Directions: 9 units on the Eastside of Long Beach.
- Source Property Type: Residential Income
- Area: Eastside, Circle Area
- Source Neighborhood: Eastside, Circle Area
- Parcel Number: 7260-001-026
- Zoning: LBR2N
- Source System Name: C2C
Commercial Info
- Net Operating Income: 113000
Building and Construction
- Total Square Feet Living: 4226
- Year Built: 1941
- Levels: Multi Levels
- Living Area Source: Vendor Enhanced
- Property Age: 83
- Levels or Stories: 1
- Building Total Stories: 1
- Year Built Source: Vendor Enhanced