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Listed by Cody Charnell • Sage Real Estate Group, Inc.
$ 1,670,000
Est. payment | /mo
3,616 SqFt
$ 1,670,000
Est. payment | /mo
3,616 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 3,616 sqft
Price per Sqft $461
MLS Listing ID CRPW25157783
HOA Y/N No
Year Built 1923
Lot Size 6,532 Sqft
Property Sub-Type Other
Source Datashare California Regional
Property Description
Now available in one of Long Beach’s most affordable and high-demand rental neighborhoods, this charming 10-unit Spanish-style apartment building offers a rare blend of character and cash flow. The property features (9) studio units and (1) 1-bedroom/1-bath unit along with a convenient on-site laundry room. With a strong annual gross income of $187,260 and an attractive 6.2% cap rate, this asset presents an excellent opportunity for investors seeking stable returns in a supply-constrained rental market. 4 of the units currently pay RUBS which generates $490/mo. Don’t miss this chance to own a classic, income-producing property in a thriving Long Beach location.
Location
State CA
County Los Angeles
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Laundry Other
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Melanie Peterson-Katz
Partner | Lic# 00890767