$1,995,000

Multi Family in Long Beach

  • 4 Beds
  • 4 Baths
  • 6,691 Sqft lot
  • Updated: Today
  • Source:
    San Diego MLS  MLS#SB26242091

About the Property

Amazing 7.4% in-place yield plus a 10% upside to an 8.4% cap rate at market! 1953-built, 10-unit property in a dense, high-demand rental area of Long Beach. 8.9X GRM on current rents and 8.1X GRM at market for postwar units under $200K/door. Strong unit mix: (8) 1 bed / 1 bath and (2) 2 bed / 1 bath units. 4 of 10 units just remodeled with new flooring, lighting, kitchens and bathrooms. Community
Amazing 7.4% in-place yield plus a 10% upside to an 8.4% cap rate at market! 1953-built, 10-unit property in a dense, high-demand rental area of Long Beach. 8.9X GRM on current rents and 8.1X GRM at market for postwar units under $200K/door. Strong unit mix: (8) 1 bed / 1 bath and (2) 2 bed / 1 bath units. 4 of 10 units just remodeled with new flooring, lighting, kitchens and bathrooms. Community laundry room plus 4 garages for added income or ADU conversion potential. All units separately metered for gas and electricity. Directly across from Washington Middle School, currently undergoing a $176 million reconstruction. Just a few blocks to the Metro Blue Line rail station, PCH and the 710 Freeway. Over 60% of households within 5 miles are renters with an average household income of over $94,000 (Costar).
…
  • Property type

    Other

  • Floors

    2

Features

  • Garage
  • Walk In Closet
  • Renovated
  • Gas Stovetop
  • Laundry Room
  • Gate
  • Stone Countertops

Explore the Area

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Buckingham Investments, Inc - Torrance

Joined 1 year ago
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Buckingham Investments, Inc - Torrance
California, United States
View agency profile
12
Listings
2025
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Buckingham Investments, Inc - Torrance
Torrance, California, United States
View agency profile
Last updated
Today
First listed
November 12
Listing reference
SB26242091
Listing status
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