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Key Details
Sold Price $2,825,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,912 sqft
Price per Sqft $477
Subdivision Poly High (Ph)
MLS Listing ID SB22082677
Sold Date 06/27/22
HOA Y/N No
Year Built 1956
Lot Size 6,255 Sqft
Acres 0.1436
Property Description
10 Units in two buildings in dense rental market just North of Downtown Long Beach. Recently renovated property including exterior refresh, landscaping, lighting, and windows. 8 out of 10 units have been upgraded with vinyl plank floors, new cabinets, quartz countertops, and new bathrooms. Well priced on actual income at 14.38X gross with a 9% upside to a market GRM of 13.22. Great unit mix of five 2 Bed/1 Bath units, three 1 Bed/1 Bath units, and two studios. Three garages in front of the building with the potential for an ADU conversion. Community laundry room for extra income. Leased solar system on back building for electrical savings. Perfect 1031 exchange upleg property!
Location
State CA
County Los Angeles
Area 9 - Poly High
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Fireplace No
Laundry Common Area
Exterior
Garage None
Garage Spaces 3.0
Garage Description 3.0
Pool None
Community Features Sidewalks, Urban
Parking Type None
Total Parking Spaces 3
Private Pool No
Building
Lot Description Item610UnitsAcre
Story Two
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7274022015
Energy Description 3043.0
Acceptable Financing Cash, CashtoNewLoan, Conventional
Listing Terms Cash, CashtoNewLoan, Conventional
Financing CashtoNewLoan
Special Listing Condition Standard
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Bought with Mark Jensen • Nationwide Real Estate Execs
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