GREAT INVESTMENT PROPERTY!!! Discover a gem in the Eastside submarket of Long Beach with this exceptional 1980s building. This property boasts 10 LARGE UNITS two-bedroom, condo-style apartments, each offering spacious and luminous interiors. Highlights include vaulted ceilings in upper units and expansive balconies in all apartments, enhancing the appeal and comfort for residents.Security is prioritized with locked entrances and security cameras throughout the property. Additionally, the building features a gated garage with 15 parking spaces, presenting an opportunity to generate additional income by renting out surplus spaces.It features a newer roof with a lifetime guarantee and includes seller-owned laundry machines. The financial burden of utilities is eased as tenants are responsible for their own gas and electric costs, keeping operating expenses low.This investment asset is a standout in a desirable, low-vacancy area of Long Beach, offering more than 18% rental upside potential. Recent upgrades include remodeled units in 2021 and a piloties 15 parking lot enhancement. Conveniently located near freeways and public transportation, this property represents a rare chance to acquire a well-maintained, income-generating building with significant growth potential. Act now to capitalize on this excellent investment opportunity in a thriving residential neighborhood.
|
DAYS ON MARKET
|
15
|
LAST UPDATED
|
5/4/2024
|
|
YEAR BUILT
|
1986
|
COMMUNITY
|
Eastside, Circle Area
|
|
GARAGE SPACES
|
15.0
|
COUNTY
|
Los Angeles
|
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Residential Income
|
| AIR |
Central Air |
| AIR CONDITIONING |
Yes |
| AREA |
Eastside, Circle Area |
| BUYER'S BROKERAGE COMPENSATION |
2.000 % |
| GARAGE |
Yes |
| HOA DUES |
0 |
| LOT |
8561 sq ft |
| LOT DESCRIPTION |
6-10 Units/Acre |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
3 |
| WATER |
Public |
| ZONING |
LBR2N |
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Listed with Berkshire Hathaway HomeService
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 5/19/24 6:06 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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