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$ 2,030,000
Est. payment | /mo
6,743 Sqft Lot
$ 2,030,000
Est. payment | /mo
6,743 Sqft Lot
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Wrigley Area (Wr)
MLS Listing ID SB26098552
HOA Y/N No
Year Built 1953
Lot Size 6,743 Sqft
Property Sub-Type Apartment
Property Description
Priced to sell! This well-performing 10-unit building is located in the South Wrigley neighborhood of Long Beach. The rear garages were converted to 2 brand-new 1BD/1BA ADU's at 485 square feet each. Priced with very high in-place cash flow at close with actual rents resulting in an 8.85X GRM and 7.3% cap rate. New electrical meters and main installed. This 1950's built property is located about 1.5 miles from Downtown Long Beach, and less than a mile to the 710 freeway, making this a strong rental location for tenants and investors. Tenants can utilize the nearby Metro Line, shopping centers, medical facilities, schools, and dining. Don't miss out on this incredible opportunity! Available for sale with neighboring property, 1952 Pine. Offering memorandum in supplemental materials.
Location
State CA
County Los Angeles
Area 5 - Wrigley Area
Interior
Fireplace No
Laundry Common Area
Exterior
Parking Features Assigned
Pool None
Community Features Urban
Total Parking Spaces 2
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7209017010
Energy Description 625.5
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
Listed by Malcolm Zeger Buckingham Investments, Inc 626-483-7983, DRE #02013882
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