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$1,849,000
Est. payment /mo
6,499 Sqft Lot
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC25078995
HOA Y/N No
Year Built 1932
Lot Size 6,499 Sqft
Property Sub-Type Apartment
Property Description
Beautifully restored Spanish Revival 6-unit complex in Long Beach's historic South Wrigley neighborhood. Features (4) large 2-bed/1-bath and (2) 1-bed/1-bath units totaling 5,504 SF. Upgrades include new electrical panels, copper plumbing, on-site laundry, and garages. Assumable financing at 3.20% fixed through May 2026, then 4.20% until Nov 2026, 5.20% until May 2027, and 6.20% until Nov 2027. Current 5.10% cap rate with upside to 6.67% pro forma. Additional income could be achieved through RUBS, pet rent, parking, and potential ADU development where existing garages are located. Excellent location near Downtown, transit, and schools—strong cash flow and long-term upside.
Location
State CA
County Los Angeles
Area 5 - Wrigley Area
Interior
Fireplace No
Laundry Common Area, Laundry Room
Exterior
Garage Spaces 5.0
Garage Description 5.0
Pool None
Community Features Biking, Gutter(s), Sidewalks, Urban
Total Parking Spaces 5
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Acceptable Financing Cash to Existing Loan, Cash to New Loan
Listing Terms Cash to Existing Loan, Cash to New Loan
Special Listing Condition Standard
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Listed by Pat Swanson • Pat Swanson • 213-864-2862