9 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI. Priced at 11.6 GRM and a 5.4% CAP with upside to a 6.1% 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.
|
DAYS ON MARKET
|
24
|
LAST UPDATED
|
4/29/2024
|
|
YEAR BUILT
|
1941
|
COMMUNITY
|
Eastside, Circle Area
|
|
GARAGE SPACES
|
3.0
|
COUNTY
|
Los Angeles
|
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Residential Income
|
| AIR |
None |
| AREA |
Eastside, Circle Area |
| BUYER'S BROKERAGE COMPENSATION |
2.000 % |
| GARAGE |
Covered, Yes |
| HEAT |
Wall Furnace |
| LOT |
8503 sq ft |
| LOT DIMENSIONS |
50x170 |
| PARKING |
Covered |
| STORIES |
1 |
| ZONING |
LBR2N |
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Listed with The Agency
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 5/17/24 7:43 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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