$3,048,000
Priced to sell at 9.7 GRM and 6.6% CAP with upside to 9.3 GRM and a 7.0% CAP. 14 units in Long Beach NOT subject to rent control, only subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.0%). Located on the East Side. Long Beach has undergone major redevelopment with over $8BB of new projects in the past few years. The property is professionally managed and well maintained with onsite laundry. The property features an excellent unit mix of 1 and 2 bed units with 11 open parking spaces in the rear. The exterior and all interiors were updated in 2019. Unit interiors feature updated flooring, kitchen counter tops, lighting and paint. EARN OVER A 10% CASH ON CASH RETURN AGAINST IN PLACE RENTS. Qualified Buyers can put down as little as 25%. Contact Loan Broker to find out more. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.
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Listed by Jonathan Swire with The Agency (424) 230-3700
Property Type
Residential Income
Status
Active
MLS Number
26656535
Year Built
1928
Lot Size
0.29 acres