Long Beach, CA 90806,1241 E Wesley DR
Long Beach, CA 90806,1241 E Wesley DR
Long Beach, CA 90806,1241 E Wesley DR
Long Beach, CA 90806,1241 E Wesley DR
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$845,000

$800,000

5.6%
Est.Price: ?

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Est. payment /mo

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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California Regional MLS (CRMLS)
Listed by John McCann • Lyon Stahl Investment Real Estate, Inc.
Bought with Jimmy Thach • Seal Real Estate

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Kris Rainwaters

REALTOR® | Lic# 02111780

+1(602) 561-3114

PO Box 106 Lake Arrowhead, CA 92352

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