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$1,450,000
Est. payment /mo
3 Beds
3 Baths
3,750 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW25132490
Bedrooms 3
HOA Y/N No
Lot Size 3,750 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
TOTAL 6 UNITS (2x Brand New ADUs & 4x Fully Renovated Units). 100% VACANT AT CLOSE OF ESCROW. Located just north of Virginia Country Club and minutes from Bixby Knolls, Trader Joes, SteelCraft, and Atlantic Avenues boutique corridor, 134 E Market St. offers investors the rare chance to own a completely repositioned 6-unit multifamily asset in a high-demand, evolving Long Beach submarket. This turn-key investment features four fully renovated units and two ground-up, newly constructed ADUs, all completed in 2024/2025 and delivered 100% vacant at the close of escrow. Investors have full lease-up control with no tenant buyouts, no rent restrictions on the new construction units, and zero deferred maintenance. Lease at full market rents and start cash flowing immediately. Every unit has been thoughtfully upgraded or newly constructed with todays rental market in mind. The property is individually metered for electricity (6 meters) and gas (4 meters; ADUs are electric only). Water and trash are master-metered, with the utility setup creating the potential for RUBS implementation, subject to lease terms and management approach offering an opportunity to streamline expenses and improve net operating income. With a projected CAP rate of 6.43%, pro forma gross income of $143,400, and offered at just $1,450,000, this is a rare chance to acquire a low-maintenance, high-yield multifamily asset in a submarket seeing strong rent growth and city-backed revitalization - one of Long Beachs most strategic rental corridors.
TOTAL 6 UNITS (2x Brand New ADUs & 4x Fully Renovated Units). 100% VACANT AT CLOSE OF ESCROW. Located just north of Virginia Country Club and minutes from Bixby Knolls, Trader Joes, SteelCraft, and Atlantic Avenues boutique corridor, 134 E Market St. offers investors the rare chance to own a completely repositioned 6-unit multifamily asset in a high-demand, evolving Long Beach submarket. This turn-key investment features four fully renovated units and two ground-up, newly constructed ADUs, all completed in 2024/2025 and delivered 100% vacant at the close of escrow. Investors have full lease-up control with no tenant buyouts, no rent restrictions on the new construction units, and zero deferred maintenance. Lease at full market rents and start cash flowing immediately. Every unit has been thoughtfully upgraded or newly constructed with todays rental market in mind. The property is individually metered for electricity (6 meters) and gas (4 meters; ADUs are electric only). Water and trash are master-metered, with the utility setup creating the potential for RUBS implementation, subject to lease terms and management approach offering an opportunity to streamline expenses and improve net operating income. With a projected CAP rate of 6.43%, pro forma gross income of $143,400, and offered at just $1,450,000, this is a rare chance to acquire a low-maintenance, high-yield multifamily asset in a submarket seeing strong rent growth and city-backed revitalization - one of Long Beachs most strategic rental corridors.
TOTAL 6 UNITS (2x Brand New ADUs & 4x Fully Renovated Units). 100% VACANT AT CLOSE OF ESCROW. Located just north of Virginia Country Club and minutes from Bixby Knolls, Trader Joes, SteelCraft, and Atlantic Avenues boutique corridor, 134 E Market St. offers investors the rare chance to own a completely repositioned 6-unit multifamily asset in a high-demand, evolving Long Beach submarket. This turn-key investment features four fully renovated units and two ground-up, newly constructed ADUs, all completed in 2024/2025 and delivered 100% vacant at the close of escrow. Investors have full lease-up control with no tenant buyouts, no rent restrictions on the new construction units, and zero deferred maintenance. Lease at full market rents and start cash flowing immediately. Every unit has been thoughtfully upgraded or newly constructed with todays rental market in mind. The property is individually metered for electricity (6 meters) and gas (4 meters; ADUs are electric only). Water and trash are master-metered, with the utility setup creating the potential for RUBS implementation, subject to lease terms and management approach offering an opportunity to streamline expenses and improve net operating income. With a projected CAP rate of 6.43%, pro forma gross income of $143,400, and offered at just $1,450,000, this is a rare chance to acquire a low-maintenance, high-yield multifamily asset in a submarket seeing strong rent growth and city-backed revitalization - one of Long Beachs most strategic rental corridors.
Location
State CA
County Los Angeles
Area Long Beach (90805)
Zoning Assessor
Building
Lot Description Sidewalks
Story 2
Lot Size Range 1-3999 SF
Others
Monthly Total Fees $58
Acceptable Financing Exchange
Listing Terms Exchange
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Listed by Naomi Yamagami Reed • Sage Real Estate Group, Inc.