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Listed by Nicholas Gallyon • Coldwell Banker Platinum Prop
$1,850,000
Est. payment /mo
2,040 SqFt
UPDATED:
11/02/2024 09:23 AM
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,040 sqft
Price per Sqft $906
MLS Listing ID CROC24224912
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1923
Lot Size 5,905 Sqft
Property Description
Prime 5-Unit Multifamily Investment Opportunity in Long Beach Introducing 826 Rose Ave, a fully renovated triplex in the heart of Long Beach, currently generating $6,185 per month in rental income. With an annual cash flow of $78,600, this property offers immediate returns with future growth potential through a fully approved expansion 2 unit ADU. FOR SALE: $1,850,000 – Owner’s Loss, Investor’s Gain: Due to funding requirements for another project, the owner must sell this valuable asset, creating a unique opportunity for investors. Additional Expansion Opportunity with 2 Fully Permitted ADU Plans: The property includes fully permitted, shovel-ready plans for two additional ADU units (each a 2-bed, 2-bath, 2-story design) at an additional cost to construct of $434,000, which will transform this triplex into a 5-unit multifamily property with a proforma annual cash flow of $140,000 upon completion and an estimated cap rate of 6.07%. Property Highlights: • Current Units: 3 fully renovated units $6,185 monthly rental income ($78,600 annually). • Future Expansion: Includes fully permitted plans for two new ADU units, adding 1,584 sq. ft. of living space. • Construction Company: After evaluating estimates from three qualified contractors, we selected the best fit based on
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry Dryer, Washer, Other, See Remarks
Exterior
View None
Building
Lot Description Other
Water Public
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James Dye
Broker Associate | License ID: 00897803
Broker Associate License ID: 00897803