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Additional details
Listed by Cody J. Charnell • Sage Real Estate
$2,650,000
Est. payment /mo
4,630 SqFt
UPDATED:
12/16/2024 06:38 PM
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,630 sqft
Price per Sqft $572
Subdivision Eastside
MLS Listing ID PW-24249846
Year Built 1923
Lot Size 6,503 Sqft
Property Description
**SELLER FINANCING AVAILABLE**Discover this charming Spanish-style 13-unit apartment building nestled in the heart of Long Beach's 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.
Location
State CA
County Los Angeles
Zoning LBR2N
Interior
Heating Wall Furnace
Laundry None
Exterior
Parking Features None
Pool None
Community Features Curbs
Building
Lot Description 11-15 Units/Acre
Sewer Public Sewer
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