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$4,500,000
Est. payment /mo
4 Beds
3 Baths
0.29 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active Under Contract
Purchase Type For Sale
Subdivision North Long Beach (Nlb)
MLS Listing ID PW26036911
Bedrooms 4
Lot Size 0.288 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
We are pleased to present 1075 E. South Street, a 1987 constructed 18 unit building to market in the city of Long Beach. The property features an all two bedroom unit mix with units averaging approximately 868 square feet each with balconies in select units. Current operations deliver a strong 6.37% cap rate and a 10.01 GRM based on existing rents, while still offering approximately 20% upside in gross rental income to market. The property has fully gated and secured parking for 25 spaces in addition to three secure storage spaces in the garage area. Attractive market financing options exist that could potentially boost a cash on cash return of 7% with a 30% down payment (buyer to verify). Situated on a quiet residential street in a solid North Long Beach location, the property combines stable current income, future rent growth potential, and a desirable neighborhood setting.
Location
State CA
County Los Angeles
Zoning Assessor
Direction Off of South and Lemon
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 3
Level or Stories 3
Others
Senior Community No
Tax ID 7124027028
Acceptable Financing Conventional
Listing Terms Conventional
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Listed by Jackson Jorgensen, DRE#02022727 Younglewin Advisors, Inc.
Nearby Locations
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