$845,000
$800,000
5.6%For more information regarding the value of a property, please contact us for a free consultation.
6,534 Sqft Lot
SOLD DATE : 08/31/2021
Key Details
Sold Price $845,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 21763586
Sold Date 08/31/21
Construction Status Fixer
HOA Y/N No
Year Built 1929
Lot Size 6,534 Sqft
Lot Dimensions Assessor
Property Description
Five unit investment property located within an Opportunity Zone of Long Beach. Listed for a modest $160,000 per unit, this late 1920's construction property consists of six bedrooms and five bathrooms. Every unit stands independent, with no common walls. Four buildings provide one bedroom and one bathroom each. The fifth building, located at the rear of the property, contains two bedrooms and one bathroom. Units are separately metered for gas and electricity. Renovations have included over half of the windows being replaced with double-pane windows and roofs are five years new. Rear alleyway access provides the opportunity to create a minimum of 5 personal parking spaces for tenants. With additional renovations, and the substantial rental upside potential, investors could net an 8.20% cap rate at market rents. *SOLD AS-IS* **DO NOT DISTURB TENANTS**
Location
State CA
County Los Angeles
Area 9 - Poly High
Zoning LBR2N
Interior
Heating WallFurnace
Fireplace No
Exterior
Parking Features Concrete, Public
Building
Story 1
Architectural Style Bungalow
Construction Status Fixer
Others
Senior Community No
Tax ID 7210040007
Financing Cash,Conventional,Private
Special Listing Condition Standard
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Bought with Jimmy Thach • Seal Real Estate
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REALTOR® | Lic# 02111780