$3,695,000
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22 Beds
14 Baths
10,253 SqFt
SOLD DATE : 09/22/2022
Key Details
Property Type Single Family Home
Listing Status Sold
Purchase Type For Sale
Square Footage 10,253 sqft
Price per Sqft $346
MLS Listing ID 22169907
Sold Date 09/22/22
Bedrooms 22
HOA Y/N No
Year Built 1928
Lot Size 0.294 Acres
Property Description
BEST PRICED DEAL IN LONG BEACH. 13.1 GRM AND 5.0% CAP ON IN PLACE RENTS. 14 units in Long Beach - excellent unit mix for the area. All unit interiors were updated by Seller with new kitchen countertops, paint and flooring. There is onsite laundry and a total of 11 parking spaces onsite. Property is offered at 5.0% CAP against in place rents with upside to a 5.9% CAP. Property is professionally managed and well maintained. All units are rented and there is some rental upside for the Buyer to obtain as rent increases are issued. Excellent 1031 Exchange property or for anyone who wants to become an owner in the City of Long Beach which currently has over $8BB in redevelopment occurring. The property is subject to AB1482 Rent Control allowing for 10% increases in 2022. CONTACT LA1 FOR MORE INFO AND A RENT ROLL.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBR2N
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Laundry Common Area
Exterior
Parking Features Assigned
Total Parking Spaces 11
Building
Story 2
New Construction No
Others
Senior Community No
Tax ID 7267012035
Special Listing Condition Standard
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Bought with Jonathan Swire The Agency
johnherkenrath@epiquerealty.com
<a href="https://maps.app.goo.gl/pirboN7SMpBm6tb18" target="_blank">3435 E Thousand Oaks Blvd #6354, Westlake Village CA 91359 </a>