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$ 2,200,000
$ 2,450,000 10.2%
Est. payment | /mo
1 Bed
2 Baths
$ 2,200,000
$ 2,450,000 10.2%
Est. payment | /mo
1 Bed
2 Baths
Key Details
Sold Price $2,200,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
Subdivision Eastside (Es)
MLS Listing ID PW24249846
Sold Date 05/16/25
Bedrooms 1
Property Sub-Type Res Income 2-4 Units
Property Description
**SELLER FINANCING AVAILABLE**Discover this charming Spanish-style 13-unit apartment building nestled in the heart of Long Beachs vibrant East Side neighborhood. Combining timeless architectural appeal with modern upgrades, this property presents an exceptional opportunity for investors seeking a value-add asset with significant income potential. With a remarkable 35% upside in rents, a new owner can unlock tremendous cash flow while capitalizing on the extensive improvements already completed. Improvements include the installation of 13 new wall heaters (1990), a full repipe of gas lines (1998), a complete replacement of water supply lines (2006),14 new electric meters (1990), double-pane vinyl windows throughout (2017), new 100 gallon water heater (2022), and all ABS plastic drain lines. The original floor plans also offer an opportunity for reconfiguration to unlock even more rental income potential. This reconfiguration has already been completed on unit #10. Seller financing is available for qualified buyers. Seller's will consider carrying financing with 25% down, 5% interest rate, and up to a 10 year loan term. Financing terms are dependent on offer price.
Location
State CA
County Los Angeles
Zoning Assessor
Direction North of Anaheim and East of Redondo
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 7253008006
Listed by Cody Charnell Sage Real Estate Group, Inc.
Bought with Juan Huizar Sage Real Estate Group, Inc.
Bought with Juan Huizar Sage Real Estate Group, Inc.
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Johnny Fitzmaurice