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Key Details
Sold Price $1,299,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,640 sqft
Price per Sqft $356
MLS Listing ID 23334839
Sold Date 01/30/24
Bedrooms 7
HOA Y/N No
Year Built 1954
Lot Size 4,730 Sqft
Property Description
PRICED TO SELL. 10.9X GRM and 6.1% CAP on current rents. 6 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI. All interiors have been updated (new kitchen cabinets, flooring, bath tile, fixtures, etc.) and property is professionally managed and maintained. There are 5 parking spaces in the rear plus a storage room (rents for $150 per month). Currently the spaces are not being charged for and new ownership could change this and get $100-125/month per space. There is onsite laundry as well. There is an existing loan fixed at 3.4% through Sept 2024 (approx. $690K balance) that may be assumable. Contact Listing Agent for a complete Marketing Package including a current Rent Roll.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBR4N
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Laundry Common Area
Exterior
Attached Garage No
Total Parking Spaces 5
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 7269040013
Special Listing Condition Standard
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Bought with Jonathan Swire • The Agency
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Adrian Castillo
Principal/Realtor | CA DRE#01308935
Principal/Realtor CA DRE#01308935