PRICE REDUCED TO SELL - SELLER IS MOTIVATED. 10.2 GRM AND 6.7% CAP on in place rents, with upside to a 9.3 GRM and a 7.7% CAP. 8 units located on the East Side of Long Beach - subject to AB 1482 Rent Control (5% + CPI increases). All units are in very good condition. And only $299/SF. There are 2 potential Loan Options on the property. Option 1 - The Buyer can obtain a new loan with 30% down fixed for 5 years. Option 2 - Buyer can assume the existing, fully amortized loan of $1.670.000 fixed at 3.4% until November 2026 at which point it can adjust as much as 2.00%. This option allows a Buyer to purchase this property with less than 20% down. The property has new windows, new exterior paint, new landscaping, new garage doors and is professionally managed. Electrical subpanels were updated in 2024. The main panel is 200 AMPS (Buyer to verify). Most units have W/D hookups. There are 4 garages on the front of the property. Units have individual waters heaters. EMAIL LA FOR MORE INFO INCLUDING A CURRENT RENT ROLL AND SETUP.
Listing courtesy of Listing Agent: Jonathan Swire (jon@jonswire.com) from Listing Office: The Agency.
Listing sold by Anthony Walker from Buckingham Investments, Inc
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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