Perfect for investors with a current cap rate of 7.07% and GRM of 12.81 and a market cap rate of 8.47% and GRM
of 10.86. Located on a quiet side street off one of the major thoroughfares in North Long Beach providing a great location and ease of commute for
tenants. The… Read More property is close to local bus stops, multiple parks, and shopping centers, as well as The Michelle Obama Library. The property sits within 2 miles of both the 91 and 710 freeways. The property is also only a short drive to both downtown Long Beach and the Beach. This fourplex
consists of a front building made up of three 1 Bed 1 Bath units each with a garage, and a rear building which is a detached 4 Bed 2 Bath house. The
rear house sits at ~1728 sqft. While the front building units average ~485 sqft. The tenants pay their own utilities, keeping the utilities low. This
building is currently fully occupied and has had less than 3% vacancy over the last 3 years. Two of the units have been partially renovated during
the most recent tenant transitions. This property also has storage and laundry room opportunities for potential sellers to build out. Price
$1,150,000 Price/Unit $287,500 Price/sqft $361 Current Cap Rate 7.07% Market Cap Rate 8.47% Current GRM 12.81 Market GRM 10.86. Property is priced to sell, seller is firm on price. Read Less
Property listed by Southland Property Group, Perry Karn 310-259-7556
Listing Snapshot
Days Online
1
Last Updated
Property Type
Quadruplex
Lot Size
0.13 Acres
Year Built
1949
MLS Number
PW26061687
Additional Details
Building
Built in 1949, 2 buildings, 2 stories, Entry level: 1, Entry location: Front
Community
StreetLights, Suburban, Sidewalks
Expenses
Insurance: $8,500, Operating: $8,500
Garage
3 spaces
Income
Gross Income: $89,791, Gross ScheduledIncome: $92,568, Net Operating Income: $81,291
Laundry
CommonArea, ElectricDryerHookup, GasDryerHookup
Lot
0.1286 acres, ZeroToOneUnitAcre
Parking
3 open parking spaces, 6 total parking spaces, Assigned
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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