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Key Details
Sold Price $3,450,000
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 9,765 sqft
Price per Sqft $353
Subdivision Alamitos Beach (Ab)
MLS Listing ID PW23183807
Sold Date 10/08/24
HOA Y/N No
Year Built 1962
Lot Size 8,947 Sqft
Property Description
1244 E. 4th Street is a 14-unit apartment asset in vibrant Retro Row neighborhood of Long Beach. The property is offered at 11.36 GRM and 5.78% Cap Rate on current rents. The property is comprised of (2) three- bedroom units; (3) two-bedroom units and (9) one-bedroom units. Thirteen of the 14 units have been fully remodeled with recessed lighting, new flooring, new kitchen countertops, cabinetry, and stainless steel appliance, new bathroom vanities, tiling, and modern fixtures and features throughout. All renovated units offer in-unit washers and dryers. Double-paned windows are featured throughout the building, and (6) garages onsite provide the opportunity for garage income or the potential for additional rental income through conversion to ADUs.
The property is located in prime Retro Row, walking distance from shopping, dining and nightlife amenities.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBCNR
Rooms
Ensuite Laundry Inside
Interior
Laundry Location Inside
Fireplace No
Laundry Inside
Exterior
Garage Spaces 6.0
Garage Description 6.0
Pool None
Community Features Sidewalks
Total Parking Spaces 6
Private Pool No
Building
Lot Description 11-15 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7275006007
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Christian Tait • Marcus & Millichap
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