Long Beach, CA 90804,1034 Newport AVE
Long Beach, CA 90804,1034 Newport AVE
Long Beach, CA 90804,1034 Newport AVE
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$1,675,000
Est. payment /mo
6,250 Sqft Lot
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UPDATED:

12/04/2024 08:38 PM

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Subdivision Circle (Ca)

MLS Listing ID SB24243567

HOA Y/N No

Year Built 1972

Lot Size 6,250 Sqft

Property Description

4 units in a great LB location with a 91 Walk Score, nearby shopping, dining, Rec Park and more. Attractive unit mix: 1-3BR/2BA (single story), 2-2BR/2BA (2 story townhouses) and 1-2BR/1BA (2 story townhouse). Most units remodeled with new floors, all units are spacious and with well appointed floorplans. All units have a separate water heater and all electric building. Ample parking:(3) single car garages and (1) two car garage. Garages had a brand new roof last year. Onsite laundry facility and the entire property is gated and fully secured.

The property currently grosses approx $113,700 per year and is priced attractively at a real 4.31% CAP (actual) and a 14.73 GRM. At market rents the property is a 12.50 GRM and 5.45% CAP. Approx 18% upside in current rents.

Location

State CA

County Los Angeles

Area 3 - Eastside, Circle Area

Zoning LBR4R

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 5.0

Garage Description 5.0

Pool None

Community Features Suburban

Total Parking Spaces 5

Private Pool No

Building

Lot Description Level

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7258008006

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard


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California Regional MLS (CRMLS)
Listed by Brian Estes • Re/Max Commercial & Investment • 310-963-2894

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Adrian Castillo

+1(209) 380-7597

Principal/Realtor | CA DRE#01308935

Principal/Realtor CA DRE#01308935

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1034 Newport AVE