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$ 1,250,000
Est. payment | /mo
5,601 Sqft Lot
$ 1,250,000
Est. payment | /mo
5,601 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Subdivision North Long Beach (Nlb)
MLS Listing ID PW25003991
HOA Y/N No
Year Built 1949
Lot Size 5,601 Sqft
Property Description
Located on a quiet side street off one of the major thoroughfares in North Long Beach providing a great location and ease of commute for tenants.
The property is close to local bus stops, multiple parks, and shopping centers, as well as The Michelle Obama Library. The property sits within 2
miles of both the 91 and 710 freeways. The property is also only a short drive to both downtown Long Beach and the Beach. This fourplex consists
of a front building made up of three 1 Bed 1 Bath units each with a garage, and a rear building which is a detached 4 Bed 2 Bath house The rear
house sits at ~1728 sqft. While the front building units average ~485 sqft. The tenants pay their own utilities, keeping the utilities low. This
building is currently fully occupied and has had less than 3% vacancy over the last 3 years. Two of the units have been partially renovated during
the most recent tenant transitions. This property also has storage and laundry room opportunities for potential sellers to build out.
Price
$1,250,000
Price/Unit $312,500
Price/sqft $408
Current Cap Rate 5.35%
Market Cap Rate 6.26%
Current GRM 16.62
Market GRM 14.43
The property is close to local bus stops, multiple parks, and shopping centers, as well as The Michelle Obama Library. The property sits within 2
miles of both the 91 and 710 freeways. The property is also only a short drive to both downtown Long Beach and the Beach. This fourplex consists
of a front building made up of three 1 Bed 1 Bath units each with a garage, and a rear building which is a detached 4 Bed 2 Bath house The rear
house sits at ~1728 sqft. While the front building units average ~485 sqft. The tenants pay their own utilities, keeping the utilities low. This
building is currently fully occupied and has had less than 3% vacancy over the last 3 years. Two of the units have been partially renovated during
the most recent tenant transitions. This property also has storage and laundry room opportunities for potential sellers to build out.
Price
$1,250,000
Price/Unit $312,500
Price/sqft $408
Current Cap Rate 5.35%
Market Cap Rate 6.26%
Current GRM 16.62
Market GRM 14.43
Location
State CA
County Los Angeles
Area 7 - North Long Beach
Zoning LBR2N
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 3.0
Garage Description 3.0
Pool None
Community Features Suburban, Urban
Total Parking Spaces 3
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7128032018
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
Listed by Perry Karn • Southland Property Group • 562-519-0099
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Kristine Marquez
Agent | License ID: 02151470