2005 construction and just outside of downtown Long Beach, this quadruplex has three large 3 bedroom 1 bathroom apartments, and one 1 bedroom 1 bathroom apartment. The strong income in place has this building at a GRM of 13.3X and a cap rate of 4.2%, and there is approximately… Read More 15% upside in the rents. The building features onsite laundry in select units, a large 2 car garage for each unit with extra parking on the driveway, and is separately metered for gas and electricity. There is a path to substantial upside via the conversion of some of the 8 garage spots to ADUs, as well as offsetting some of the expenses through the use of RUBS. The building is just 3 blocks North of Downtown Long Beach, with ongoing new developments of over $8 Billion. It offers excellent transit access only a few blocks to the metro blue line rail station, PCH, and the 710 freeway. Over 60% of households within 5 miles are renters with an average household income of over $94,000. (Per Costar) Read Less
Property listed by Buckingham Investments, Inc, Anthony Walker 310-561-4776
Listing Snapshot
Days Online
27
Last Updated
Property Type
Quadruplex
Lot Size
0.15 Acres
Year Built
2005
MLS Number
SB25042498
30 Days Snapshot Of 90813
$536k
-2%
(avg) sold price
8
0%
homes sold
149
+79%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Road frontage type: Alley
Appliances & Equipment
GasOven, GasRange
Building
Built in 2005, Building area total: 3,040, Levels: Two, 2 stories, 2 buildings, Architectural style: Modern, Attached, Common walls: TwoCommonWallsOrMore, Construction materials: Stucco
Community
Urban
Cooling
None
Accessibility Features
Accessibility features: None
Expenses
Electric expense: $1,723, Fuel expense: $1,428, Gardener expense: $1,750, Insurance expense: $5,320, Licenses expense: $500, New taxes expense: $19,375, Operating expense: $45,692, Water sewer expense: $3,365
Fence
WroughtIron
Fireplaces
None
Garage
8 spaces
Heating
WallFurnace
Income
Gross income: $116,412, Net operating income: $64,916
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.
Confirm your time
Fill in your details and we will contact you to confirm a time.
