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In-PersonVirtual Tour
$ 1,999,000
Est. payment | /mo
6,395 SqFt
$ 1,999,000
Est. payment | /mo
6,395 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 6,395 sqft
Price per Sqft $312
MLS Listing ID CL25528237
HOA Y/N No
Year Built 1936
Lot Size 9,685 Sqft
Acres 0.22
Property Sub-Type Other
Property Description
PRICE REDUCED $50K. Priced to sell at 10.1 GRM and 6.5% CAP with upside to 9.4 GRM and a 7.2% CAP. 9 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.8%). Located on the West Side blocks from Downtown Town where over $8BB of redevelopment is occurring. On a beautiful, quiet, tree-lined street. The property is professionally managed and well-maintained. All units have their own private parking included, and most have a private outdoor patio. All have W/D hookups. All units have their own water heater. A new owner can raise rents to market and achieve a 9.4 GRM and 7.2% CAP. Earn over a 9.5% cash-on-cash return at market rents. Qualified Buyers can put as little as 30% down. EMAIL LISTING AGENT FOR MORE INFO, INCLUDING A RENT ROLL AND OM.
Location
State CA
County Los Angeles
Zoning LBPD
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 7272004034
© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Jonathan Swire • The Agency
GET MORE INFORMATION
Kenneth Jamaca
Managing Broker | REALTOR | License ID: 02080040
+1(925) 413-1849 | kenneth@jcastlegroup.com