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$2,349,000
Est. payment /mo
15 Beds
9 Baths
6,403 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 6,403 sqft
Price per Sqft $366
MLS Listing ID 26826121
Bedrooms 15
HOA Y/N No
Year Built 1963
Lot Size 6,751 Sqft
Property Description
PRICED TO SELL - 9.7X GRM AND 6.9% CAP AT MARKET RENTS - IN PRIME LONG BEACH. 8 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.0% total). Located on the East Side of Long Beach close to Belmont Shores and the Traffic Circle. The property is impeccably maintained and professionally managed. Excellent unit mix of 2 and 3 bed units featuring 4 garage spaces in the front of the property (each could be rented for $150 each). Unit interiors are in good condition, but a new owner could choose to upgrade them even further and increase rents to market, approx. 15% above current levels. There is an onsite laundry room. The main electrical panel is 200 AMPS - Buyer to verify. The 3 bedroom unit has a large private patio in the rear of the building. 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.
Location
State CA
County Los Angeles
Area 3 - Eastside, Circle Area
Zoning LBR3T
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Parking Features Assigned
Total Parking Spaces 8
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7257005017
Special Listing Condition Standard
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Listed by Jonathan Swire The Agency #01336277
Nearby Locations
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