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Long Beach,CA 90802
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Subdivision Downtown (Dt)
MLS Listing ID SB25232214
HOA Y/N No
Year Built 1967
Lot Size 7,387 Sqft
Property Sub-Type Quadruplex
Property Description
Huge 1960's construction 4 unit in 5 blocks to the beach with all townhome style units. Extra large owner's unit currently configured as 2 beds and 2 baths, but originally 3 beds with primary suites. Three other large two story 2 bedroom units, one with 1 bath, and two with 2 baths. 2 out of 4 units recently remodeled with vinyl floors, new kitchens, and bathrooms. Large lot with 5 garages spaces plus extra square footage in the rear. Very attractive metrics at $291/square foot, 12.3X GRM on actuals with a significant 16% upside to 10.5X GRM and a market cap rate of 5.8%.
Ideal location in the heart of Alamitos Beach only 5 blocks to the sand. 3 blocks from Downtown Long Beach's East Village Arts District with numerous restaurants, retail, and entertainment options. Over $8 Billion in new development in the immediate vicinity. 63% of households within 5 miles are renters with an average household income of $98,000+ (per CoStar research).
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Fireplace No
Laundry None
Exterior
Parking Features Garage Faces Front
Garage Spaces 5.0
Garage Description 5.0
Pool None
Community Features Suburban
Utilities Available Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected
View Y/N No
View None
Roof Type Composition
Total Parking Spaces 5
Private Pool No
Building
Lot Description Rectangular Lot
Faces East
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7266016024
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard