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$2,750,000
Est. payment /mo
4 Beds
4 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Pending
Purchase Type For Sale
Subdivision Belmont Shore (Bsd)
MLS Listing ID PW25031111
Bedrooms 4
Property Sub-Type Res Income 2-4 Units
Property Description
Income and expense are using projected market values and put property operating near a projected 6% Cap and 11X Gross (Current estimated 4.43% and 13.3X). Located in the affluent community of Belmont Shore, a Southern California beach community and college town being just a few minutes from CSU Long Beach. Both buildings (also for sale with 5290 Division: 8U for $2,150,000) are meticulously cared for, and both have been upgraded with copper plumbing, and most unit interiors have been upgraded. The investments provide the opportunity to increase your return by increasing the rents to market and separate metering the building utilities, therefore, providing immediate lower overhead/increased cash flow and continued added value in the future with rising utility costs being transferred to the tenants. Laundry is leased and managed by a 3rd party offering further income upside by canceling the contract and installing your own machines. Some units are turning over and may be rented at rates and differ from current income rent roll stated below. Insurance rates stated here are estimates may not be current rate for new owner, so buyer must get own insurance quotes including flood insurance if needed. No parking, street parking only.
Location
State CA
County Los Angeles
Zoning Assessor
Direction From 2nd Street, East on Argonne, will be on left at 1st Street
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 3
Level or Stories 3
Others
Tax ID 7247016013
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Listed by AJ Nay AJ Nay, Broker