For more information regarding the value of a property, please contact us for a free consultation.
Key Details
Sold Price $1,140,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Downtown (Dt)
MLS Listing ID SB21195702
Sold Date 11/01/21
HOA Y/N No
Year Built 1900
Lot Size 3,759 Sqft
Property Description
Craftsman corner lot 4-unit property in Downtown Long Beach's East Village Arts District. Great curb appeal and filled with character, only blocks away from billions of dollars in new development, restaurants, galleries, studios, and the ocean. Excellent value-add opportunity with 2 units to be delivered vacant plus a 15% upside in current rents. Strong in-place income at 14.33X gross on current rents and a market GRM of 12.5. 2 garages for additional income and tenant convenience. Rare opportunity to own a well-located 4-unit property for just above $1M. Great unit mix in dense rental market with low vacancy. Perfect for an owner occupant buyer or as an investment property.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBCO
Interior
Fireplace No
Laundry None
Exterior
Garage Spaces 2.0
Garage Description 2.0
Fence Wood
Pool None
Community Features Urban
Total Parking Spaces 2
Private Pool No
Building
Lot Description Item25UnitsAcre
Sewer PublicSewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7273019013
Acceptable Financing Cash, CashtoNewLoan, Conventional
Listing Terms Cash, CashtoNewLoan, Conventional
Financing CashtoLoan
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Vincent Cook • Alden Pacific Investments, Inc.
GET MORE INFORMATION
Monique H. Ott-Beacham
Broker | License ID: DRE #01448692
Broker License ID: DRE #01448692