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Key Details
Sold Price $1,800,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
Subdivision Eastside (Es)
MLS Listing ID PW25182759
Sold Date 11/17/25
Bedrooms 8
Lot Size 6,751 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Excellent cash flow building in prime Eastside Long Beach area. 7 units total, four garages with 4 parking spaces in front of garage. All unit doors face south for lots of natural light and share common back yard space for happy tenants. Common area laundry room for convenience. All units have been well maintained and upgraded, granite counters, low maintenance tile flooring and updated bathrooms. Very little deferred maintenance. All 7 unit electrical subpanels upgraded in 2024. Great location. Rose Park is right around the corner, walking distance to shops and restaurants on 4th Street, 7th Street and Redondo. Current monthly income 13,935 (167,220 annual). GRM is 11.3x. Cap rate with 35% expenses is 5.7%. Market rents are 2,250 with garage and 2050 without. Building has been professionally managed with great tenants. The building is the perfect combination of a quality and cash flow. Units show very well as they are upgraded upon vacancy. This is an easy building to own and manage with additional upside.
Location
State CA
County Los Angeles
Zoning Assessor
Direction N/ 7th Street W/Redondo
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7258019020
Acceptable Financing Cash
Listing Terms Cash
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Bought with Anthony Walker Buckingham Investments, Inc