SELLER OFFERING $15, 000 TOWARDS INTEREST RATE BUY-DOWN FOR BUYER 4-unit property, live in one unit and let the remaining 3 units pay your mortgage! Perfect for an investor looking for a renovated multifamily in a downtown location with high rental demand. The property has an attractive unit mix of (2) 2-bedroom 1-bath and (2) 3-bedroom 1-bath units. All 4 units have been meticulously renovated in 2023 including new flooring, cabinetry, Quartz countertops, light fixtures, wall heaters, water heater, sinks, appliances, blinds, and fresh paint. The property boasts a completely upgraded electrical system in 2023, including a full re-wire, new main service panel, and sub panels, as well as a 2024 Silicone white roof! Enjoy gross scheduled rents of $113, 220 per year, a 13.0 GRM, a 5% cap rate, and upside in rents. Additionally, unit 807 (3bd 1ba) and unit 803 (2bd 1ba) will be available at close of escrow, ideal for an owner-occupant or investor to select their tenant and capture market rent!
Property Features
Bedrooms
- Bedrooms: 10
- Bedrooms On Main Level: 6
Bathrooms
- Total Bathrooms: 4
- Full Bathrooms: 4
- Bathrooms On Main Level: 2
Other Rooms
- Kitchen, Living Room, Main Floor Bedroom, Main Floor Primary Bedroom, Primary Bathroom, Primary Bedroom
Heating and Cooling
- Heating Features: Wall Furnace
- Heating: Yes
Land Info
- Lot Description: 0-1 Unit/Acre
- Lot Size Acres: 0.0688935
- Lot Size Source: Assessor
- Lot Size Square Feet: 3001
Multi-Unit Info
School Information
- School District: Long Beach Unified
Homeowners Association
- Calculated Total Monthly Association Fees: 0
Amenities and Community Features
- Community Features: Curbs, Sidewalks, Street Lights, Urban
Other Property Info
- Source Listing Status: Active
- County: Los Angeles
- Directions: E 8th St and Atlantic Ave
- Source Property Type: Residential
- Area: 4 - Downtown Area, Alamitos Beach
- Source Neighborhood: Downtown (DT)
- Parcel Number: 7274016016
- Postal Code Plus 4: 4512
- Subdivision: Downtown (DT)
- Zoning: LBCO
- Property Subtype: Quadruplex
- Source System Name: C2C
Building and Construction
- Total Square Feet Living: 3312
- Year Built: 1914
- Common Walls: 2+ Common Walls
- Entry Level: 1
- Entry Location: Street
- Living Area Source: Assessor
- Property Age: 110
- Property Attached: Yes
- Levels or Stories: Two
- Building Total Stories: 2
- Structure Type: Quadruplex
- Year Built Source: Public Records
Utilities
- Sewer: Public Sewer
- Water Source: Public