1020 E 12th St, Long Beach is the ideal investment opportunity for anyone looking for great cash-flow and low maintenance/renovated - the property is currently operating at 6.78% cap rate and 10.28 GRM. All units are renovated with new floors, cabinets, appliances, fixtures and windows.… Read More All units are renting at or near market rents. The subject property is comprised of (8) 1Bed+1Bath units, 5 of which are rented to Sec. 8/A.F.H. - guaranteed income! 1020 E 12th St has plenty of parking, which collects $400/month in additional income. There is also a laundry room on site that collects income. Beneficial for the new owner, the property is located just outside the $6 Billion of new development flooding into Downtown Long Beach, including the Long Beach Civic Center, Aquarium, OceanAire Project, CSULB Downtown Village, Broadway Block and Queen Mary Island. OM in supplements. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., Cameron Samimi 310-259-7556
Listing Snapshot
Days Online
67
Last Updated
Property Type
Apartment
Lot Size
0.13 Acres
Year Built
1960
MLS Number
SB25017558
30 Days Snapshot Of 90813
$480k
-17%
(avg) sold price
3
-57%
homes sold
73
-52%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1960, Building area total: 4,698, Levels: Two, 2 stories, 1 building, Architectural style: , Attached, Common walls: TwoCommonWallsOrMore
Community
Urban
Expenses
Operating expense: $45,755
Income
Gross income: $167,796, Net operating income: $117,007
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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