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Listed by Cody J. Charnell • Sage Real Estate Group, Inc.
$1,670,000
Est. payment /mo
3,616 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 3,616 sqft
Price per Sqft $461
MLS Listing ID PW-25157783
Year Built 1923
Lot Size 6,532 Sqft
Property Sub-Type Apartment
Property Description
Now available in one of Long Beach's most affordable and high-demand rental neighborhoods, this charming 10-unit Spanish-style apartment building offers a rare blend of character and cash flow. The property features (9) studio units and (1) 1-bedroom/1-bath unit along with a convenient on-site laundry room. With a strong annual gross income of $187,260 and an attractive 6.2% cap rate, this asset presents an excellent opportunity for investors seeking stable returns in a supply-constrained rental market. 4 of the units currently pay RUBS which generates $490/mo. Don't miss this chance to own a classic, income-producing property in a thriving Long Beach location.
Location
State CA
County Los Angeles
Area 9 - Poly High
Zoning LBR2N
Interior
Heating Wall Furnace
Laundry Common Area
Exterior
Parking Features None
Pool None
Community Features Curbs, Sidewalks
Building
Lot Description 6-10 Units/Acre
Sewer Public Sewer
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John R Thompson
Broker/Owner | License ID: 01200900
Broker/Owner License ID: 01200900