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$ 1,615,000
Est. payment | /mo
4 Beds
11 Baths
4,944 SqFt
$ 1,615,000
Est. payment | /mo
4 Beds
11 Baths
4,944 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,944 sqft
Price per Sqft $326
MLS Listing ID 26640863
Bedrooms 4
HOA Y/N No
Year Built 1922
Lot Size 5,702 Sqft
Property Description
CHEAPEST PRICED LISTING IN ALL OF LONG BEACH. PRICED TO SELL. 8.4 GRM AND 7.2% CAP WITH UPSIDE TO A 8.0 GRM AND 7.7% CAP. 11 units in Long Beach NOT subject to local rent control, only subject to AB 1482 rent control - maximum annual increase of 5% + CPI (you can increase 8.7% this year). The property is professionally managed and well-maintained. The property is MASTER METERED for all utilities and as such, there is an opportunity for a new owner to either implement a RUBS program or increase rents to cover these costs. Electrical updated in the past 3 years. Qualified Buyers can put as little as 25% down and earn over a 12% cash on cash return against in-place rents. Excellent lender financing available at 5.4% fixed for 5 years - for qualified Buyers. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. Qualified Buyers can put down as little as 25% with excellent bank financing. Additionally, the Long Beach airport is undergoing a $37MM renovation for the upcoming 2028 Olympic Games.
Location
State CA
County Los Angeles
Area 9 - Poly High
Zoning LBR2N
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Parking Features None
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 7268042011
Special Listing Condition Standard
Listed by Jonathan Swire The Agency #01336277
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