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Listed by Christopher Crosby • Buckingham Investments, Inc
$1,475,000
Est. payment /mo
10 Beds
4 Baths
3,312 SqFt
UPDATED:
12/13/2024 04:20 AM
Key Details
Property Type Single Family Home
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 3,312 sqft
Price per Sqft $445
MLS Listing ID CRSB24227269
Bedrooms 10
Full Baths 4
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1914
Lot Size 3,001 Sqft
Property Description
**SELLER OFFERING $15,000 TOWARDS INTEREST RATE BUY-DOWN FOR BUYER** 4-unit property, live in one unit and let the remaining 3 units pay your mortgage! Perfect for an investor looking for a renovated multifamily in a downtown location with high rental demand. The property has an attractive unit mix of (2) 2-bedroom 1-bath and (2) 3-bedroom 1-bath units. All 4 units have been meticulously renovated in 2023 including new flooring, cabinetry, Quartz countertops, light fixtures, wall heaters, water heater, sinks, appliances, blinds, and fresh paint. The property boasts a completely upgraded electrical system in 2023, including a full re-wire, new main service panel, and sub panels, as well as a 2024 Silicone white roof! Enjoy gross scheduled rents of $113,220 per year, a 13.0 GRM, a 5% cap rate, and upside in rents. Additionally, unit 807 (3bd 1ba) and unit 803 (2bd 1ba) will be available at close of escrow, ideal for an owner-occupant or investor to select their tenant and capture market rent!
Location
State CA
County Los Angeles
Interior
Heating Wall Furnace
Cooling None
Fireplaces Type None
Fireplace No
Laundry None
Exterior
Pool None
View None
Private Pool false
Building
Lot Description Street Light(s)
Story 2
Water Public
Schools
School District Long Beach Unified
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James Dye
Broker Associate | License ID: 00897803
Broker Associate License ID: 00897803