$1,600,000
$1,650,000
3.0%For more information regarding the value of a property, please contact us for a free consultation.
6,655 Sqft Lot
SOLD DATE : 03/29/2024
Key Details
Sold Price $1,600,000
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Subdivision Westside/South Of Willow (Wsw)
MLS Listing ID PW24021012
Sold Date 03/29/24
HOA Y/N No
Year Built 1959
Lot Size 6,655 Sqft
Property Description
Outstanding opportunity to bolster your investment portfolio with this bread and butter 6 unit residential income property in West Long Beach, CA. All units are 2 bedrooms and one bathroom with updated interiors. The six units are rented with the property offering a 6.02% cap rate and 11.87 GRM based on current rents, 2023 actual expenses and an estimated new property tax amount. 12 uncovered, tandem parking spaces located in the rear of the building and a convenient onsite laundry room. Popular rental area of Long Beach with close proximity to the Port, Harbor, Terminal Island and neighboring cities such as San Pedro, Harbor City and Torrance. This property has been well maintained and self-managed by owners for over 15 years.
Location
State CA
County Los Angeles
Area 11 - Westside
Zoning LBR2N
Interior
Interior Features Ceiling Fan(s), Laminate Counters
Heating Wall Furnace
Cooling None
Flooring Carpet, Laminate, Tile
Fireplaces Type None
Fireplace No
Appliance Dishwasher, Gas Oven, Gas Range
Laundry Common Area, Laundry Room
Exterior
Exterior Feature Lighting
Garage Off Street, Paved, One Space, Tandem, Uncovered
Fence Wrought Iron
Pool None
Community Features Urban, Gated, Park
Utilities Available Cable Available
View Y/N Yes
View Neighborhood
Accessibility No Stairs
Total Parking Spaces 12
Private Pool No
Building
Lot Description Near Park, Near Public Transit, Rectangular Lot
Faces West
Story 2
Entry Level Two
Sewer Unknown
Water See Remarks
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7431026021
Security Features Gated Community,Smoke Detector(s),Security Lights,Window Bars
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Financing Cash
Special Listing Condition Standard
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Bought with David Salzman • Engel & Volkers LA South Bay
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "