$1,195,000
Great 4-plex in North Long Beach tucked on a tree lined street with 3,609 rentable square feet on a 7,534 square foot lot. Excellent unit mix with a front stand-alone 2 bed/1 bath house featuring original hard wood flooring along with laundry hookups in the kitchen plus two back town house style units (2 bed/1.5 bath and 2 bed/2 bath) and a 4th apartment (2 bed/1 bath). Strong in-place income with an 11.9 GRM and a 4.5% cap rate with a 19.4% upside to rents and a market cap rate of 5.9%. (4) separate garages for off-site parking, additional income, or ADU potential. Easy access to the 710 freeway being just blocks away. Less than a mile from Bixby Knolls dining and shopping. Walkable immediate neighborhood, just blocks from The Pan, CVS, and McDonald’s, and other retail.
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Listed by Anthony Walker with Buckingham Investments, Inc (310) 982-7055
Property Type
Quadruplex
Status
Active
MLS Number
SB26098969
Year Built
1963
Lot Size
7,536 sq ft