We are pleased to present 870 W 19th Street, a 7 unit multifamily investment opportunity located on a corner lot in a quiet, family-oriented residential community of Long Beach. Built in 1953, this two-story, walk-up style apartment building features a well-balanced unit mix consisting of four (4) one-bedroom/one-bathroom units and… Read More three (3) two-bedroom/one-bathroom units. Encompassing approximately 5,100 rentable square feet on a 6,565 square foot lot, the property includes three (3) garages currently used for storage, offering potential for future ADU conversion, five surface parking spaces, and the on-site laundry facility provides an additional income stream. The property has undergone significant capital improvements, including new windows, exterior paint, upgraded balcony railing, water heater, and a roof replacement in 2016. The property presents a unique opportunity to acquire a well-maintained pride of ownership building with over 25% rental upside potential while offering low operating expenses, strong in-place income, and future upside through rental repositioning in the high demand rental market of Long Beach. Read Less
Property listed by Matthews Real Estate Investment Services, Kamfar Kyle Mirrafati 866-889-0550
Listing Snapshot
Days Online
3
Last Updated
Property Type
Other
Beds
10
Square Ft.
5,100
Lot Size
0.15 Acres
Year Built
1953
MLS Number
25534083
30 Days Snapshot Of 90806
$780k
-22%
(avg) sold price
4
-42%
homes sold
73
-28%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Levels: Two, Built in 1953, Building area total: 5,100, Living area: 5100, 2 stories, 1 building
Cooling
None
Garage
3 spaces
Heating
WallFurnace
Income
Gross income: $142,536, Net operating income: $92,609
Lot
0.1507 acres, 6,565 square feet, Size: 6,565
Parking
5 open parking spaces, 8 totals parking, DoorSingle, Garage
Property
Zoning: LBR1N
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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