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$ 2,195,000
Est. payment | /mo
16 Beds
10 Baths
7,128 SqFt
$ 2,195,000
Est. payment | /mo
16 Beds
10 Baths
7,128 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 7,128 sqft
Price per Sqft $307
MLS Listing ID 26826345
Bedrooms 16
HOA Y/N No
Year Built 1987
Lot Size 6,494 Sqft
Property Description
PRICE REDUCED - HIGHLY COVETED 1980'S CONSTRUCTION - PRICED AT 9.8 GRM AND 7.0% CAP ON MARKET RENTS for 80's construction. 9 units in Long Beach built in 1987, NOT subject to rent control, only subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7% total). Located in a great location on the East side. Long Beach has undergone major redevelopment with over $8BB of new projects in the past few years. The property is professionally managed and well maintained with onsite laundry. It also features onsite parking for every unit - a rarity in parking impacted Long Beach. The property features an excellent unit mix of 1 and 2 bed units with rents approximately 10% below market. Built in 1987 this property features copper plumbing and modern electrical. Qualified Buyers can obtain a new loan fixed at 6.1% for 5 years, Interest Only. 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. The City also approved a $38MM revamp of Long Beach Airport in preperation for the 2028 Olympic games.
Location
State CA
County Los Angeles
Area 3 - Eastside, Circle Area
Zoning LBR2N
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Parking Features Assigned
Total Parking Spaces 12
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7260032018
Special Listing Condition Standard
Listed by Jonathan Swire The Agency #01336277
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