316 E 23rd ST Long Beach, CA 90806

The property consists of 4 apartment units + 2 commercial units. 2 x 2 bedroom 1 bath units + 2 x 1 bedroom 1 bath units + 2 commercial / retail units on the ground floor. The apartment rents are very low with the 1 bedrooms rented at $600 and $575 and the 2 bedroom units rented at $1,100 and $1,300. The first commercial unit is leased to a kombucha tea store and manufacturing tenant at $1,200 per month. The tenant is doing very well and established themselves in the community. The second commercial unit is leased to an insurance company for $950 per month. The property has been well maintained with updates to the plumbing and restrooms. All leases are month to month except for the tea store whose lease expires in March 2017. Owner is willing to provide seller financing with $450k down.