$2,000,000
$2,000,000
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4,791 Sqft Lot
SOLD DATE : 06/14/2019
Key Details
Sold Price $2,000,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Belmont Shore (Bsd)
MLS Listing ID SB19044363
Sold Date 06/14/19
HOA Y/N No
Year Built 1945
Lot Size 4,791 Sqft
Acres 0.11
Property Description
The subject property is a charming 6 unit apartment complex in the Belmont Shore neighborhood of Long Beach California on a quiet street. The 2 story walk-up building has nice curb appeal and was constructed in 1945 with a unit mix that consists of 4 (1 bedroom + 1 bath), 1 (2 bedroom + 1 bath) and a 3 bedroom 2 bath unit. The 3 bedroom unit will be delivered vacant "as-is" at close of escrow. The remaining units are all rented on a month to month basis at rents significantly below market.
There is a washer and dryer onsite situated in one of the garages for tenants on a contract with WASH. There is one additional garage that the seller will vacate prior to close of escrow. Tenants pay their own gas & electric. The astute investor will realize the rarity in this investment as it provides a huge upside in rental income, in a Prime A+ location just a short stroll from the beach.
Belmont Shore is the jewel of Long Beach, and 52-54 Roswell is at the heart of it. The property is just a short one block walk to Ocean Boulevard, the sandy shoreline, Rosie's Dog Beach, Belmont Plaza Pool and Belmont Pier. It is conveniently located a few blocks from Vons and the iconic mainstay Chuck's Coffee Shop & Diner. Two blocks to the north is 2nd Street (Main Street Belmont Shore) with an abundance of restaurants, retail shops, pubs and bars. Long Beach does not have rent control which will provide for almost immediate upside in rents.
Location
State CA
County Los Angeles
Area 1 - Belmont Shore/Park, Naples, Marina Pac, Bay Hrbr
Zoning LBR4R
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 3.0
Garage Description 3.0
Pool None
Community Features Curbs, Sidewalks
Total Parking Spaces 3
Private Pool No
Building
Lot Description Landscaped, Level, Paved, Street Level
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7256037003
Energy Description 12.0
Acceptable Financing Cash, Cash to New Loan, Conventional, Contract
Listing Terms Cash, Cash to New Loan, Conventional, Contract
Financing Cash
Special Listing Condition Standard
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Bought with Stephen Lampe • Re/Max Commercial & Investment
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