$1,395,000 Price Analysis   ♡   Long Beach, CA 90810 8 bed 8 bath 3,338 SqFt ($417/SqFt) 9,278SqFt lot. Built 1946 Listed 2024-04-04, Taxes $9,321 | Ⓧ USDA Ineligible due to price & location near Long Beach |
12.25 GRM and 5% Cap rate with over 28% upside in rents!
9.5 GRM and 7% Cap Rate on market rents. See updated Rent Roll (notes in private remarks). Prime investment opportunity for a savvy investor or owner occupant buyer with unit(s) available for a buyer to move-in! The property is now priced at $232, 500 per unit, situated on a tranquil cul-de-sac and within walking distance to Steven's Middle School. This meticulously maintained property offers four updated units, comprised of a diverse unit mix of (1) 3bd 1.5ba owners unit (1) 2bd 1.5 bath (3) 1bd 1ba and (1) studio.
Recent upgrades include updated plumbing, electrical, water heater(s), wall heater(s) and interior renovations. The large driveway offers plenty of off street parking for the tenants. This excellent value-add opportunity boasts a huge upside in income potential. Additional income is available with a coin-operated l aundry room with a $200 monthly revenue ptential. Priced attractively at $232, 500/ unit, this investment gem is a rare find in Long Beach. Don't miss out on the chance to secure a lucrative investment property with strong tenant demand and substantial income growth potential.
Presented by Christopher Crosby at
Buckingham Investments, Inc.
Property MLS #SB24066151 from CRMLS
Heating Features: Wall Furnace
Heating: Yes
Lot Size Acres: 0.2129936
Lot Size Source: Assessor
Lot Size Square Feet: 9278
Bedrooms in Unit-1: 3
Bedrooms in Unit-2: 2
Bedrooms in Unit-3: 1
Bedrooms in Unit-4: 1
Bedrooms in Unit-5: 1
Total Bathrooms in Unit-1: 2
Total Bathrooms in Unit-2: 2
Total Bathrooms in Unit-3: 1
Total Bathrooms in Unit-4: 1
Total Bathrooms in Unit-5: 1
Total Bathrooms in Unit-6: 1
Vacancy Allowance: 3345
Rent Control: Yes
County: Los Angeles
Cap Rate: 5.00
Source Property Type: Residential Income
Insurance Expense: 5007.00
Area: 11 - Westside
Source Neighborhood: Westside/North of Willow (WNW)
Number of Separate Electric Meters: 6
Number of Separate Gas Meters: 6
Number of Separate Water Meters: 1
Parcel Number: 7314014019
Postal Code Plus 4: 2917
Professional Management Expense: 6634.00
Subdivision: Westside/North of Willow (WNW)
Trash Expense: 2160.00
Zoning: LBR1N
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $346,481 + $352,316 $698,797 | $9,321 |
| 2021 | $339,688 + $345,408 $685,096 | $9,120 |
| 2020 | $336,205 + $341,867 $678,072 | $9,096 |
| 2019 | $329,613 + $335,164 $664,777 | $8,990 |
| 2018 | $323,150 + $328,593 $651,743 | $8,687 |
| 2017 | $316,814 + $322,150 $638,964 | $8,595 |
| 2016 | $310,602 + $315,834 $626,436 | $7,994 |
| 2015 | $305,937 + $311,090 $617,027 | $7,683 |
| 2014 | $234,000 + $351,000 $585,000 | $7,432 |
| 2013 | $234,000 + $351,000 $585,000 | $7,239 |
| 2012 | $210,000 + $315,000 $525,000 | $6,794 |
| 2010 | $210,000 + $315,000 $525,000 | $6,592 |
| 2009 | $382,034 + $297,138 $679,172 | $8,246 |
| 2009 | $210,000 + $315,000 $525,000 | $8,246 |
| 2008 | $374,544 + $291,312 $665,856 | $7,685 |
| 2007 | $367,200 + $285,600 $652,800 | $7,489 |
$1,395,000
CRMLS
Price Changed 2024-05-28
$1,425,000
CRMLS
Price Changed 2024-05-06
$1,485,000
CRMLS
Listed 2024-04-04
$1,555,000
CRMLS
Sold 2005-09-01
$640,000
Public Record
Sold 2004-10-04
$581,000
Public Record
Sold 2003-08-11
$350,000
Public Record
Sold 1997-07-24
$150,000
Public Record
Year Built: 1946
Building Features: 4
Common Walls: 2+ Common Walls, No One Above, No One Below
Entry Level: 1
Entry Location: Street
Property Age: 78
Property Attached: Yes
Levels or Stories: One
Building Total Stories: 1
Structure Type: Apartment
Year Built Source: Assessor
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.