$2,370,000
$25,000 Price Reduction! 9-unit apartment complex in Eastside Long Beach with an exceptional large-unit mix: (1) 3BD/2BA, (6) 2BD/1BA, (2) 1BD/1BA. Strong in-place income with upside through continued unit renovations (3 of 9 units already remodeled). $129,000 in capital improvements including new 400A main electrical panel (2025), partial main sewer line replacement (2025), SB 721 balcony compliance/repairs (2025), and roof repairs (2024). 6 garages, separately metered electric/gas, owner pays water/sewer/trash. Offered at a 6.32% cap / 10.34 GRM with projected 7.51% cap at market. Not subject to local rent control (AB 1482 applies).
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Listed by Andrew McAllister with eXp Realty of Greater L.A (888) 652-1314
Property Type
Mixed Use
Status
Active
MLS Number
RS26052383
Year Built
1963
Lot Size
6,499 sq ft