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$ 1,627,000
Est. payment | /mo
4,944 SqFt
$ 1,627,000
Est. payment | /mo
4,944 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,944 sqft
Price per Sqft $329
MLS Listing ID CL26640863
HOA Y/N No
Year Built 1922
Lot Size 5,700 Sqft
Acres 0.1309
Property Sub-Type Other
Property Description
PRICED TO SELL. 8.7 GRM AND 7.0% CAP WITH UPSIDE TO A 8.1 GRM AND 7.9% 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 8.0% 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. EMAIL LA FOR MORE INFORMATION INCLUDING A CURRENT RENT ROLL AND EXPENSES.
Location
State CA
County Los Angeles
Zoning LBR2N
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 7268042011
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Listed by Jonathan Swire • The Agency
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