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Key Details
Sold Price $1,800,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 8,303 sqft
Price per Sqft $216
Subdivision Alamitos Beach (Ab)
MLS Listing ID SB16102303
Sold Date 06/24/16
HOA Y/N No
Year Built 1959
Property Description
Low Rise Garden Style Value add opportunity in Downtown Long Beach. The building is comprised of 2 Studios, 1 two bedroom, and 9 one bedroom units. This property is located on street-to- alley corner lot, and has been well maintained. The subject property provides 6 one car garages and onsite laundry facility that offer additional rental income.
The property also offers a private common area courtyard and newer landscaping. The property is in a strong rental market with shortage of rental units and a surplus of tenants. Most of the tenants are long term, so there is an opportunity to increase rents. A Higher rent range is also achievable through cosmetic upgrades to the units. The building is located 5 to 10 minutes from the recently updated Pike, and provides easy access to the 405, 110, 710 and 91 freeways.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBRR4R
Interior
Fireplace No
Exterior
Garage Spaces 6.0
Garage Description 6.0
Pool None
Community Features Curbs, Street Lights, Sidewalks
Utilities Available Sewer Connected
Total Parking Spaces 14
Private Pool No
Building
Lot Description Corner Lot
Story 2
Entry Level Two
Water Public
Level or Stories Two
Others
Senior Community No
Tax ID 7269006001
Acceptable Financing Cash to New Loan, Submit
Listing Terms Cash to New Loan, Submit
Financing Cash
Special Listing Condition Standard
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Bought with Scott Garland • Miller & Desatnik Realty Co.
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